El Corte Inglés to sell its logistics centres

What: They represent a portfolio of 1.2 million square meters distributed in fifty warehouses.

Why is it important: The operation is the first step in a strategy to reduce debt by obtaining EUR 2 billion from the sale of real estate assets.

BNP Paribas has valued the company’s logistics assets to EUR 400 million. All of them won’t be put for sale.

While some real estate assets have already been transformed into dark stores, Marbella’s centre will be transformed into offices to be leased.