FLE buys €250m sale-and-leaseback CEE store portfolio

FLE, the Austrian subsidiary of French investment group LFPI Group, has purchased 11 cash-and-carry stores in Poland, Hungary and the Czech Republic from Metro Properties, the real estate company of Metro AG, in a sale-and-leaseback transaction.

The value of the deal is approximately €250 million ($275 million).

The portfolio comprises five stores in Poland (in Warsaw, Wroclaw, Krakow and Lublin), three in Hungary (all in Budapest) and three in the Czech Republic (all in Prague).

The portfolio was acquired on behalf of the an AIF regulated fund.

METRO and MAKRO Cash & Carry will continue to operate all wholesale locations on the basis of long-term lease contracts.