US investment group W. P. Carey said it has completed the acquisition of a portfolio of Eroski supermarkets in Spain for $51 mln (EUR 36 mln). The Spanish sale-and-leaseback purchase was carried out by CPA(R):17 - Global, one of W. P. Carey's publicly-held REIT affiliates, and comprises 13 retail facilities operated by Eroski, the third-largest food and consumables retailer in Spain. Eroski has leased back the properties via a long-term rental agreement.

'The Eroski acquisition represents an opportunity to enter the Spanish market by investing in well-located retail locations leased to an established brand name retailer,' said WP Carey executive director Jeffrey Lefleur. 'The acquisition is also consistent with the group's investment strategy of purchasing assets that provide industry and geographical diversification to our investment portfolio,' he added.

Cushman & Wakefield advised Eroski during the transaction.