Natixis Partners Real Estate has acted as financial advisor to Adeo Group on the sale & lease back of a pan-European portfolio of more than €500 million to Batipart and Covea

On September 17, 2020, Adeo has successfully completed the disposal of a pan-European portfolio of real estate assets to Batipart and Covea, in the form of a sale and lease back for over €500 million. Adeo, international leader in the home improvement and distribution of do-it-yourself products industry, mainly under Leroy Merlin, Bricoman, Weldom and Aki brands with a turnover of over €23 billion, will retain 20% of the newly created structure for this acquisition. The portfolio, consisting of 42 stores in four countries (France, Spain, Italy and Portugal), is fully let to Leroy Merlin and Bricoman brands and represents a total surface area of more than 400,000 sqm secured by long-term leases. Convinced by the fundamentals of the do-it-yourself distribution sector, and by the performance of the Adeo group business model, which proved to be particularly resilient during the current sanitary crisis, Batipart has forged this strategic long-term partnership in order to accelerate its expansion and diversification in Europe.