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El Corte Inglés Puts Portfolio on the Market for 80 Million Euros

The company has commissioned BNP Paribas to sell twelve assets totalling around 500,000 square metres. Estimates are that the operation could reach 80 million euros.

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El Corte Inglés has commissioned BNP Paribas to sell a large portfolio of logistics land in different locations throughout Spain. The Spanish group intends to divest a series of assets that it considers non-strategic.

In total, the portfolio is made up of twelve assets, totalling around 500,000 square metres. Estimates are that their sale could total 80 million euros. BNP is ready to begin the process of selling El Corte Inglés’ portfolio as a whole, although individual sales are not ruled out, according to Cinco Días.

The portfolio consists mainly of plots of land for logistics or industrial use that the group does not consider essential, although it also includes 70,000 m2 of built logistics space.

The assets are spread throughout Spain but are mainly located in Catalonia, Castilla-La Mancha, Castilla y León, Andalusia and Aragón, among other locations, mostly in secondary areas.

Read the full article in Spanish

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