W. P. Carey Inc., a net-lease REIT, has announced a $102 million (€87 million) sale-leaseback of a 27-property supermarket portfolio located in Northern Spain and the Balearic Islands.
The supermarket portfolio comprises a total of 481,000 square feet (45,000 square meters) and is triple-net leased under three 20-year master leases to Eroski Sociedad Cooperativa (Eroski), one of the largest food retailers in Spain.
“Due to our longstanding commitment to building strong tenant partnerships, we were able to secure this off-market transaction with an existing tenant to acquire a portfolio of high-quality supermarket assets. Our experience structuring and closing transactions in the Spanish market was critical in achieving a timely close. We look forward to continuing to grow our real estate footprint in Spain and to building on our partnership with Eroski,” said Christopher Mertlitz, Executive Director, Investments, W. P. Carey.
 sale-leaseback of a 27-property supermarket portfolio, a total of 481,000 square feet in Spain.){kind=link}