Spanish retailer Eroski has entered into a sale-and-leaseback deal with WP Carey & Co., the global investment management company.
WP Carey has acquired two warehouse logistics facilities in Elorrio and Mallorca, for a total of EUR43m (US$53m). This is the second transaction with Eroski in seven months and brings the combined total of financing provided by WP Carey to Eroski to more than EUR115m. The properties are leased to Eroski under long term leases.
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Established in 1969, Eroski is the third-largest food and consumables retailer in Spain. Eroski operates more than 100 hypermarkets and 1200 supermarkets, franchises over 500 Aliprox fast-food outlets, and manages gas stations, drugstores and travel agencies.
The Eroski acquisitions are in addition to WP Carey’s recent sale-leaseback financings provided to leading European retailers, including Agrokor, Tesco, and OBI.
