Aberdeen Asset Management has bought four supermarkets in Portugal in a sale-and-leaseback transaction worth €40 mln.
The assets were acquired from Sonae Group on behalf of the Aberdeen European Balanced Property Fund (AEBPF) as part of the company's strategy to increase its presence in the Iberian market.
The supermarkets are leased to the Continente chain and located in Oporto, Palmela, Sintra and Loulé, with a total gross lettable area of 23,000 m2.
AEBPF is an open-ended core real estate fund for institutional investors based in Luxembourg, with a focus on the Eurozone. The fund had a gross asset value at the end of 2015 of €687 mln and has an investment target of €1 bn of assets under management.
