The British real estate investment company Rockspring, advised by Savills, has completed the purchase of twenty one Eroski supermarkets in a Sale&Leaseback operation. This is Eroski Group’s fourth transaction completed this year involving the sale of properties under Sale & Leaseback format. Rockspring purchased another two units from Eroski in July, and prior to that AEW acquired one hypermarket portfolio earlier this year.

Savills, property consultants with a long track record of sale & leaseback transactions, says: “The properties acquired by Rockspring benefit from being located in regions where Eroski dominates the market, adding to the deal’s security”. Luis Espadas, head of Capital Markets in Savills Spain, says: “Sale & leaseback transactions involving solid creditworthy tenants are still a favourite amongst investors who seek attractive returns with little risk and long leases with little management involved. We will probably see more transactions of this nature going down before the end of 2010”.