Spanish supermarket and online retailer Mercadona has sold 27 supermarkets to LCN Capital Partners’ European Fund III in a sale-leaseback. The financial terms were not disclosed.
This transaction ensures the continued occupation and operation of the stores by Mercadona through a long-term lease agreement with LCN Capital Partners. The 27 properties are located across Spain, with a strong concentration in Andalusia, Catalonia and Madrid.
Mercadona has historically made significant investments in the acquisition of land and buildings for its operation, and as a result, it has significant real estate holdings. This transaction, the first of its type contemplated by Mercadona, allows the company to increase liquidity from their existing assets for reinvestment into their core business.
Mercadona has created a strategic plan, which is expected to be complete by 2023. The plan includes an investment of €12 billion ($14.2 billion), approximately €1.8 billion (
