Moor Park Capital Partners has completed the acquisition of Banc Sabadell's Spanish real estate portfolio in a EUR 403 mln sale-and-leaseback transaction. CBRE advised Moor Park on the deal while CBRE's EMEA Debt Advisory team arranged the financing for the acquisition, which was first announced in March.

Moor Park Capital Partners has completed the acquisition of Banc Sabadell's Spanish real estate portfolio in a EUR 403 mln sale-and-leaseback transaction. CBRE advised Moor Park on the deal while CBRE's EMEA Debt Advisory team arranged the financing for the acquisition, which was first announced in March.

The portfolio comprises 378 bank branches located mainly in Cataluña, Madrid and Asturias. This is London-based Moor Park's first transaction in Spain and one of the largest so far in 2010. 'This transaction means achieving a great goal for Moor Park Capital Partners as it's our first deal in the Spanish market,' said Gary Wilder, Executive Chairman of Moor Park Capital Partners.

'This is a significant result given current market conditions. We were able to bring together a combination of different specialist teams to advise Moor Park at every level in one of the most important and complex transactions so far this year,' said Adolfo Ramirez-Escudero, executive managing director of CBRE Spain. 'CBRE Spain carried out the three most important recent deals in the market: Banco Santander, BBVA and Banc Sabadell.'

Clifford Chance acted as legal advisors for the transaction.

Bank Sabadell is realising EUR 265 mln of gross capital gains from the disposal, it said. The lender was advised by BNP Paribas, Cushman & Wakefield and law firm Garrigues.