Monday, November 30, 2020
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Pradera Pays €130 Million for a Portfolio of Eroski Hypermarkets

Invesco Real Estate has closed the sale of six Eroski hypermarkets and the Puente de la Ribera shopping arcade in Tudela (Navarra) to Pradera.

Real estate transactions are continuing in the supermarket segment, investors’ retail asset of choice following the Covid-19 crisis. On this occasion, it is the British investment company Pradera that has decided to expand its portfolio of assets in Spain with the acquisition of a portfolio of hypermarkets, all operated by the Basque distribution group, Eroski, as well as a shopping arcade in Tudela.

Pradera has paid around 130 million euros, according to sources close to the operation, for six hypermarkets located in the Basque towns of Arrasate, Ordizia, Urola, Zalla, Zarautz and Tudela (Navarra). In Tudela, it has also purchased the Puente de la Ribera shopping arcade. In total, the portfolio spans a gross leasable area (GLA) of 53,500 square metres.

Read the full article in Spanish.

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