Arkéa REIM acquires two Spanish retail parks

Arkéa REIM's SCPI Transitions Europe has expanded its portfolio with the acquisition of two commercial properties in Spain, offering 11 years of secured rental income. 

Eroski Calahorra

The acquisitions include a shopping centre with a hypermarket in Calahorra and a retail park in Pamplona.
These properties, spanning roughly 10,000 m² and 4,000 m² respectively, are easily accessible and situated in well-established, busy commercial zones.
Both locations are fully leased to Eroski, a prominent Spanish retailer, and Forum Sport, its subsidiary specializing in sports equipment in northern Spain. 
While primarily single-tenant properties, portions are subleased to well-known brands like Orange, Jysk, and Tiendanimal, enhancing the variety of retail options and attracting local customers. The existing leases have an average remaining term of 11 years, ensuring stable rental income for the long term.
Abdelkader Guennioui, director of Fund Management, commented: "With this new transaction, we are continuing the diversification of Transitions Europe. This acquisition, completed in less than two months, also demonstrates our ability to execute deals quickly and efficiently in a once-competitive environment."
Arkéa REIM received support and advice during the acquisition process from Catella Asset Management Ibéria, law firm Pérez-Llorca, Cushman & Wakefield, and Albion.
Arkéa Real Estate Investment Management is the real estate management company of Crédit Mutuel Arkéa.