German lender BayernLB has financed the acquisition of Pradera’s second Spanish grocery portfolio with a €35 mln loan.
The grocery stores, located in the urban centres of Vittoria and Leioa, are both let on long leases to Grupo Eroski, the leading grocery chain in the Basque region.
Pradera arranged the acquisition of the portfolio on behalf of one of Universal-Investment’s Special (SIF) Funds.
BayernLB also financed Pradera’s first acquisition of a Spanish grocery portfolio in October last year.
Peter Davies, fund director at Pradera commented, ‘The financing of our second grocery portfolio on behalf of an institutional fund launched on the fund service platform of Universal-Investment further cements our relationship with BayernLB. We now have a substantial portfolio of grocery assets in northern Spain which have been financed by BayernLB and we look forward to continuing our relationship with them in Spain and other jurisdictions.’