Savills Investment Management (“Savills IM”), the international real estate investment manager, has acquired two new Aldi supermarkets in Spain for its European food retail strategy. The purchase price was not disclosed. The strategy now has capital commitments from German institutional investors of around €370 million, raised since 2020.
The first supermarket in Alzira, Valencia was acquired from developer Ten Brinke at the end of June and comprises around 1,660 sqm of lettable space. The asset benefits from growing local demand for food retail and has leading food retailer Aldi secured as a long-term tenant for the entire space. Eversheds Sutherland, Arcadis, and PwC acted as advisors for the transaction.
The second, newly constructed property in Aranjuez, south of Madrid, has around 1,770 sqm of lettable space and was acquired from developer OMO Retail at the end of 2022 as part of an off-market transaction. The location benefits from its proximity to Madrid and a fast-growing retail market in the region. The property is also fully let to Aldi on a long-term lease. The building has been constructed to high ESG standards. A photovoltaic system has been installed on the roof, and electric vehicle charging stations and bicycle parking are part of the on-site amenities. Savills Investment Management was advised for the transaction by CMS, Arcadis, and PwC.
Following these successful transactions, the cooperation with Ten Brinke and OMO is expected to be further expanded in the medium and long term.