Batipart acquired a pan-European real estate asset portfolio for an amount of more than € 500 million under the Leroy Merlin and Bricoman brand.
Posted - 01.10.2020
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Batipart, alongside Covéa, acquired a pan-European portfolio of real estate assets, in the form of a "sale and lease back" from Adeo group for an amount of more than € 500 million. Adeo, the leading international retailer and distributor of do-it-yourself (DIY) and home improvement products in Europe mainly under the Leroy Merlin, Bricoman, Weldom and Aki brands with a turnover of over € 23 billion, will retain 20% of the newly created structure. The portfolio comprises 42 real estate assets spread over 4 countries (France, Spain, Italy and Portugal) totaling 400,000 square meters of leasable space and are fully leased with Leroy Merlin and Bricoman.
Batipart was advised by Elvinger Hoss Prussen real estate and finance team under the lead of Philippe Hoss, partner, and Stéphanie Pautot, counsel, the investment funds team under the lead of Joachim Cour, partner, and by Elisabeth Adam, partner, for certain tax aspects.