Grupo Baraka, a Spanish privately-held real estate investment firm, has reportedly acquired a portfolio of 11 Conforama stores in Spain and Portugal for a total of €140 mln.
The portfolio, which represents around 140,000 m2 of commercial and logistics space, was bought from Conforama Ibérica, the Spanish subsidiary of the French group specialized in the sale of home furnishings.
Spanish press reports say that the package was bought under a sale-and-leaseback structure, with Conforama agreeing to lease back the assets for a term of 30 years.
