French retail group Leclerc has acquired a portfolio of seven hypermarkets in the vicinity of Madrid from the Basque supermarket and foodstore retailer Eroski for an undisclosed amount.

The assets comprise 40,000 m2 of retail space and two adjacent petrol stations.

Leclerc said the acquisition brings the number of retail properties in Spain to 18. The French group is also active in France, Italy, Poland, Portugal, Andorra and Slovenia.

The sale is part of Eroski' strategy to focus on neighbourhood centres. Last week, the group sold a portfolio of 28 petrol stations in northern Spain to AXA Real Estate Investment Managers' Alternative Property Income Venture (APIV) fund for EUR 55 mln. Debt for the acquisition, which was undertaken on behalf of APIV's clients, was provided by a pool of four Spanish banks. La Caixa is the agent bank and the other financiers are BBVA, Banesto and Banco Santander.

All 28 of the petrol stations are subject to a 20-year triple-net lease with Eroski and are well located, adjoining an Eroski hypermarket, consolidated shopping centre or retail park. Geographically they are located in eight different regions in northern Spain, Eroski's traditional base.