French property investment fund has purchased a 5,890m² retail warehouse from sporting goods brand, Wala, who will remain as tenant of the unit. The property has traded at a yield of 7% triple net.
CORUM is a French real estate investment company or Société Civile de Placement Immobilier (SCPI) which invests in properties throughout the eurozone, with a target dividend yield of 6%. Since its inception in 2012, CORUM has consistently generated a yield over 6% for its clients and in 2018, CORUM XL also surpassed its target dividend yield. The firm has a capitalisation of c. €1.5 billion as of the 31st of December 2018.
Since 2011, Wala has been trading in the property which is located on the southern exit of Tarragona next to the Francolí & Entrevías business & industrial complex.
CORUM is not new to Tarragona’s property market and, in fact, its first acquisition in Spain was the Media Markt store in the city’s Gavarres Retail Park. The fund bought the store in 2013 and sold it 3 years later to CILOGER at a yield of c. 6% triple net.