The socimi Merlin Properties is finalising the sale of its Caprabo supermarket portfolio. According to Cinco Días, the US REIT Realty Income will pay 100 million euros.
The portfolio is made up of 28 assets, down from 33 in 2015. Merlin bought these properties from the families that owned Caprabo. The socimi led by Ismael Clemente has sporadically sold some individual supermarkets. Their valuation only accounts for 1% of the total portfolio.
Merlin continues to eliminate non-strategic assets from its portfolio. They include its portfolio of BBVA branches, valued at two billion euros. It consists of 693 assets, with a gross value of €1.855 billion.
Spain is the third-largest market for European investment in supermarkets. In 2020, €675 million were invested in this asset class, behind Germany (€3.1 billion) and the United Kingdom (€1.7 billion). Last year, 21% of retail activity was related to this asset class, while historically, it has been an average of just 7%.
