Eroski Sociedad Cooperativa, a Spanish supermarket owner and operator, has recently inked a sale-leaseback agreement on a 13-property portfolio. The New York based W. P Carey & Co LLC through CPA®:17-Global, a publicly held, non-traded REIT has paid $51 million for the portfolio.

While talking to reporters, executive director of W. P. Carey, Jeffrey Lefleur said, “The Eroski acquisition represents an opportunity to enter the Spanish market by investing in well-located retail locations leased to an established brand name retailer.”

Further, Lefleur added, “In addition, the acquisition is consistent with W. P. Carey's investment strategy of purchasing mission critical assets that also provide industry and geographical diversification to our investment portfolio.”

Now, Eroski will rent the property for a long-term basis, however, there is no exact declaration of time released by the company. The company was headed by Rupert Lea and Yola Camacho of Cushman & Wakefield Spain.

A report stated that the company has managed to consolidate its debt & 23 lenders have agreed to restructure the debt into one short-term loan worth $2.4 billion. The loan is set to mature in January 2014.