Sale of Cash & Carry stores becomes largest sale and leaseback in CE
Metro Properties, a company belonging to the Metro AG group, sold a portfolio of 11 Cash & Carry stores in Poland, Hungary and the Czech Republic as part of sale and leaseback transactions. This means that Metro and Makro Cash & Carry will continue to run their warehouses in all of these locations on the basis of long-term lease agreements. The transaction amounts to over €250 million.
The real estate portfolio was acquired by FLE GmbH, a company investing on behalf of the AIF regulated fund, based in Vienna, a subsidiary of the French LFPI group.
Metro Properties was advised by Colliers International, which represented the brand in conducting transactions in Poland, Hungary and the Czech Republic. This is the largest transaction this year in Central Europe and one of the largest in Europe in the format of sale and leaseback.
(Retail Net)
