Real estate investment manager Savills IM has acquired two new properties housing Aldi supermarkets in Spain for an undisclosed price.
A 1,660-square-metre supermarket in Alzira, Valencia was acquired from developer Ten Brinke. The asset benefits from growing local demand for food retail and has Aldi secured as a long-term tenant for the entire space.
The second is a newly constructed 1,770 square metre property in Aranjuez, south of Madrid, which was purchased from developer OMO Retail as part of an off-market transaction. The property is also fully let to Aldi on a long-term lease.
Savills IM expects to further expand the cooperation with Ten Brinke and OMO in the medium and long term and is prospecting investment opportunities in thriving locations in Spain, Portugal, Italy, the UK, Ireland, Benelux, and the Nordics.
In addition to the acquisitions in Spain, Savills IM acquired, by forward purchase, a new supermarket property in Dublin’s Adamstown district, which is let to Aldi and Tesco.
Food Retail Strategy
Savills IM’s food retail strategy, diversified across seven countries, now has around €370 million in capital commitments from German institutional investors, raised since 2020.
The Spanish deal comes two months after Savills IM acquired a supermarket portfolio comprising four strategically located properties in Portugal for €39 million.
The four established supermarkets are located in Gulpilhares, Olhão, Castelo Branco, and Nazaré. The total rental space of 21,600 square metres is fully leased on a long-term basis to food retailer Continente.
Last week, commercial real estate firm Cushman & Wakefield announced it will manage four Continente Modelo supermarkets purchased by Savills IM.
