America´s Invesco Real Estate has sold a portfolio of supermarkets operated by Spain´s Eroski group, as well as a shopping mall in Navarra (Spain) to British investment company Pradera for €130 million.
Pradera has carried out this operation on behalf of German pension fund Nordrheinische Ärzteversorgung (NAEV). Specifically, the acquired portfolio includes 6 hypermarkets located in the municipalities of Arrasate, Ordizia, Urola, Zalla, Zarautz and Tudela and also the Puente de la Ribera shopping gallery, also located in Tudela, a municipality within the autonomous community of Navarre. In total, the portfolio adds up to around 53,500 square meters of GLA.
Simmons & Simmons Madrid office acted as advisors for Invesco, with a team led by partner Alfonso Fernández-Puebla, which included associates David Gómez Cubillo and Sara Moreno.