Asset management firm Barings has bought a portfolio of ten supermarkets in Spain, all fully let to French multinational Carrefour, as it moves to access the country’s “resilient” grocery retail market.

The assets were acquired for €73.4 million from real estate firm Kennedy Wilson on behalf of institutional investors.

Comprising a total of just under 40,000 sqm, the supermarkets have been fully let to food retail giant Carrefour for between 22 and 50 years.

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