Tuesday, 19 May 2026
Hahn Group and Sonae Sierra have completed the first acquisitions for the newly launched Hahn Sierra Food Retail Fund, investing more than €70 million in food retail assets across Spain and Portugal.
The acquisitions include an Eroski hypermarket in San Sebastián and two Continente supermarkets in Portugal. The fund also holds options to acquire two additional Continente supermarkets in Portugal, with completion expected before the end of the year.
The portfolio comprises approximately 22,800 sqm of leasable space and has a weighted average unexpired lease term (WAULT) of more than 15 years. According to the companies, an additional portfolio valued at more than €60 million is currently under exclusive negotiation.
The fund, structured as an open-ended special AIF, focuses on food retail assets in Portugal, Spain and Italy. It targets a total investment volume of approximately €600 million and is classified as an Article 8 fund under the SFDR framework.
The Eroski hypermarket is located within the Garbera Shopping Centre in San Sebastián, in Spain’s Basque Country. The asset provides around 14,800 sqm of leasable space and operates as Eroski’s flagship store in the region. The property was originally developed in 1997 and refurbished in 2023.
The Portuguese portfolio consists of four Continente Bom Dia supermarkets with a combined leasable area of around 8,000 sqm. Two of the stores, located in Benedita and Marinha Grande, have already been acquired, while two additional acquisitions remain subject to option agreements. The supermarkets are newly developed assets scheduled to open between 2025 and 2026 and are designed to meet A+/NZEB energy efficiency standards.
All four Portuguese stores are leased to Sonae MC, which operates under the Continente brand.
The Hahn Sierra Food Retail Fund secured approximately €150 million in equity commitments from six institutional investors during its first closing and remains open to additional subscriptions.
