Nearly €500 mln of retail assets are coming for sale in Spain, in two of the largest sales mandates for the retail sector this year.
Spanish REIT Merlin has recruited agent CBRE to divest a portfolio of 14 Caprabo supermarkets with a price tag of €100 mln.
According to a news report by Spanish paper Cinco Dias, the assets have been part of Merlin's portfolio since 2015. They were bought as part of a larger deal involving a total of 33 supermarkets.
Meanwhile, department store giant El Corte Inglés is said to be seeking a buyer for two major assets in the Spanish cities of Madrid and Barcelona. The properties - Puerta del Ángel, Barcelona, and Puerta del Sol 10, Madrid - are expected to trade for a total of €370 mln.
The Madrid property in particular is valued at around €170 mln and offers the possibility to be converted to luxury residences.
JLL has been mandated with the sale.
