Mercadona pursues sale and leaseback on 27 stores

Date: 12/06/2020 Comments: 0
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Mercadona pursues sale and leaseback on 27 stores

While Mercadona owns majority of the store properties it operates, but has decided to enhance its liquidity by putting up 36 assets in March 2020 for sale. The Spanish supermarket giant is now in talks with American corporate real estate investment fund, LCN Capital Partners, for a 27 store sale-and-leaseback deal. The price of the assets under negotiation, which is presently under due diligence phase, is estimated to be around EUR180 million, in the event if the transaction is closed on the current terms. The sale and leaseback will include a 15-year lease commitment and could be closed by July 2021, according to Expansión.

Source: https://www.kantarretailiq.com/ContentIndex/NewsDetails.aspx?id=1531312

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