The international real estate investment manager Savills Investment Management (Savills IM) has acquired two Aldi supermarkets in Aranjuez (Madrid) and Alzira (Valencia) within the framework of its European Food Retail Strategy, according to a statement.

Specifically, both assets, which are newly built, add up to a Gross Lettable Area (GLA) of 3,420 square meters fully leased with long-term contracts to Aldi, one of the leading distribution operators in the Spanish market.

In this way, the ‘super’ in Aranjuez, acquired by Savills IM from Omo Retail, has a GLA of close to 1,770 square meters and the building enjoys solid ESG credentials: they include a photovoltaic system on the roof, charging stations for electric vehicles and parking for bicycles.

For its part, the Alzira supermarket offers close to 1,660 square meters of GLA. With the acquisition of this modern commercial space of new construction, the European Food Retail Strategy of Savills IM is positioned in a location with a growing demand from the local population. Until now, this asset was owned by the promoter TenBrinke.

Savills has stressed that after the success of these transactions, it is planned to expand the collaboration with Ten Brinke and OMO in the medium and long term.

The general director of Savills Investment Management for Spain and Portugal, Fernando Ramírez de Haro, has welcomed these acquisitions. “Investing in two new-build retail assets, strong ESG credentials and strategically located in populations with strong demand allows us to continue to harness the returns derived from the stability and resilience of essential ‘retail’,” he said.

“With this transaction, we consolidate Savills IM’s portfolio of ‘retail’ assets in Spain and Portugal, a country in which we recently acquired four long-term leased supermarkets from a leading operator,” he recalled.

For the transaction of the Aranjuez asset, Savills Investment Management has had the support of CMS, Arcadis and PwC, while for the Alzira operation, Eversheds Sutherland, Arcadis and PwC were the company’s advisors.

The European Food Retail Strategy has capital commitments from institutional investors worth around 370 million euros and has a diversified asset portfolio with a presence in seven countries: Spain, the Netherlands, Ireland, Denmark, the United Kingdom, Germany and Portugal.

The fund still has capital to invest and continues to seek investment opportunities in strong locations in Spain, Portugal, Italy, the UK, Ireland, the Benelux (Belgium, the Netherlands and Luxembourg) and the Nordic countries.