Lar España is part of its heritage. The group, which has already shed its warehouses and logistics floors, its office buildings and the housing development that it developed together with Pimco, now wants to sell a portfolio of occupied commercial premises and operated by Grupo Eroski and distributed throughout Spain.
Of the 22 assets for sale, ten establishments are located in the Basque Country, seven stores are located in the Balearic Islands, two in Navarra, another two in Cantabria and one in La Rioja, according to Expansión. These premises have a total leasable area of about 28,000 m2 and Eroski will remain in them until at least March 2031.
These assets had a market value of more than 54 million euros and were bought by Lar España in March 2017 at a price of 47.6 million. The operation is included in the normalized rotation of already mature assets, according to the same sources.
Lar España decided a couple of years ago to focus its attention on shopping centers to become a Socimi specialized in this type of asset. Within the framework of this strategy, the company sold its portfolio of logistics assets in July 2018 to the US fund Blackstone for an amount close to 120 million euros, as well as four office buildings located in Barcelona and Madrid during 2018 and 2019 for a total amount of 185 million .
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