US real estate giant Realty Income is expanding its Spanish portfolio with the acquisition of six Carrefour hypermarkets for approximately €100 million.
The hypermarkets are located in Dos Hermanas (Seville), Orense, Torrelavega (Cantabria), Almería, the Las Arenas shopping centre in Las Palmas de Gran Canaria, and Palma de Majorca. Carrefour will continue to operate the stores.
According to the Spanish daily Cinco Dias, this deal highlights investor interest in supermarket and hypermarket properties, considered resilient assets.
In April, the Israeli fund MDSR acquired 22 supermarkets from Carrefour for €120 million from fund manager AEW.
Realty Income
Realty Income, a company operating in the US and European markets, previously acquired seven Carrefour hypermarkets in 2021 for €93 million and a portfolio of Caprabo supermarkets in Spain from Merlin Properties for nearly €100 million.
The New York-listed company has a market capitalisation of over €45.8 billion and a portfolio that includes properties leased to major retailers like Asda, Walmart, Sainsbury's, Tesco, and Carrefour.
Carrefour Property
Carrefour’s real estate division, Carrefour Property, manages and develops the company's real estate assets. The company holds a portfolio of 109 shopping centres, valued at approximately €1.7 billion, and a substantial land bank for future projects.
The French company also owns 204 hypermarkets, 161 Carrefour Market supermarkets, 1,088 Carrefour Express, and 69 Supeco outlets in Spain.
Carrefour Property occasionally sells smaller portfolios as part of its asset rotation strategy. The company emphasises that these real estate transactions support its growth and sustainability goals while maintaining Carrefour's operational presence.
