Sale & Leaseback Real Estate Advisory — Spain

    Sale & Leaseback in Spain: unlock capital without giving up your property

    Turn your operating property into capital to grow, reduce debt or strengthen your balance sheet. We structure sale & leaseback transactions from technical and financial diagnosis through investor presentation and closing.

    Confidential assessment · No commitment · Initial reply within 48 hours

    You need liquidity without selling your company or taking on more debt

    If your company owns its property and needs capital to grow, reduce debt or strengthen its balance sheet, you don't have to sell the business or seek more bank financing. Sale & leaseback turns that property into immediate liquidity, while you keep operating in it exactly as you do today.

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    +50 sale & leaseback operations advised in the last 2 years

    From the technical and investment analysis of the asset to investor presentation and deal closing.

    Asset classes we work with

    Industrial & logistics

    Retail & large-scale distribution

    Hotels & residences

    Offices

    Other corporate assets

    Why Sale & Leaseback

    A Smarter Way to Use Real Estate Capital

    Sale & leaseback is not about selling your property. It is about converting a static asset into dynamic capital — maintaining full operational use while unlocking the financial value embedded in your real estate portfolio.

    Immediate Liquidity

    Convert frozen real estate equity into working capital within weeks, not months.

    Operational Continuity

    Continue operating from the same premises under a structured lease agreement.

    Balance Sheet Flexibility

    Shift from asset-heavy to asset-light. Improve financial ratios and free up borrowing capacity.

    Growth Capital

    Fund acquisitions, expansion, R&D, or debt reduction without diluting ownership.

    Strategic Asset Optimization

    Transform underperforming balance sheet items into productive capital deployment.

    Strategic Impact Score

    Comparative benefit analysis of sale & leaseback model

    Who It's For

    Two Sides of Every Transaction. One Trusted Advisor.

    For Asset Owners & Companies

    Unlock the capital trapped in your real estate

    • You own the property where you operate — but the capital is frozen
    • You need liquidity for growth, acquisitions, or balance sheet optimization
    • You want to continue using the asset under a structured leaseback
    • You need strategic guidance, not just a broker
    Check Whether My Asset Is Suitable
    For Institutional Investors & Funds

    Access well-structured, investor-ready deal flow

    • You seek attractive operational real estate with stable tenants
    • You value technical and legal certainty in every transaction
    • You want ESG-enhanced assets that align with fund mandates
    • You require credible, professional counterparts
    Explore Investment Opportunities

    Is This Right for You?

    We Work With Clients Who Value Precision

    Ideal For

    • Companies that own the real estate where they operate
    • Assets valued above €2M with stable operational use
    • Business owners seeking growth capital without dilution
    • Organizations ready for a structured, confidential process
    • Investors seeking ESG-aligned, well-structured deal flow

    Not Ideal For

    • Residential properties or single-unit assets
    • Distressed assets with significant structural issues
    • Clients seeking a quick, unstructured sale
    • Transactions under €2M asset value

    Our Differentiation

    What Sets Us Apart

    Most intermediaries focus on the transaction. We focus on the strategy behind it.

    VMT Advisory vs. Traditional Brokerage

    Traditional Brokerage
    VMT Advisory

    Technical Analysis, Not Guesswork

    We assess asset quality, risk exposure, performance metrics, and investor expectations with rigorous methodology — not assumptions.

    Strategic Transaction Structuring

    Every lease term, escalation schedule, and tax implication is modeled to optimize value for both seller and investor.

    Investor-Side Intelligence

    We understand what institutional investors need. Your asset is prepared to meet their standards before it reaches the market.

    ESG as a Value Driver

    Sustainability is not a compliance checkbox. We use ESG to increase asset attractiveness, reduce risk, and strengthen the investment narrative.

    Technology-Enabled via Voombu

    Our proprietary technology partner supports ESG management specifically designed for sale & leaseback transactions.

    Ver en detalle los servicios de asesoramiento sale & leaseback

    Our Process

    From Diagnosis to Execution. With Precision.

    Every transaction follows a structured, transparent process designed to reduce complexity and build confidence at every stage.

    01

    Confidential Diagnosis

    We begin with a private consultation to understand your strategic objectives, assess the asset in question, and determine whether a sale & leaseback structure is the right path forward.

    02

    Viability Assessment

    A thorough analysis of the asset's technical condition, market value, operational characteristics, and transaction feasibility — giving you a clear picture before any commitment.

    03

    Strategic Structuring

    We design the optimal transaction structure: lease terms, pricing, legal framework, tax implications, and ESG positioning — all tailored to maximize value for both parties.

    04

    Investor Alignment

    We match your asset with qualified institutional investors whose mandate, risk profile, and ESG requirements align with your transaction — ensuring credible and efficient negotiation.

    05

    Closing & Execution

    We coordinate all parties through the closing process — legal, financial, technical — ensuring documentation is complete, terms are met, and the transaction is executed with precision.

    Ver el proceso de sale & leaseback fase por fase

    Track Record

    Success Cases. Proven Experience.

    A selection of advisory engagements across multiple asset classes and locations in Spain, supporting institutional investors and asset owners in their investment decisions.

    Our team has participated in advisory processes across a broad range of real estate asset types in Spain — from logistics warehouses and shopping centres to supermarkets, petrol stations, hotels, car dealerships, and municipal markets.

    This accumulated experience enables us to identify technical risks, assess CAPEX requirements, review regulatory compliance, and provide structured support throughout investment and asset management processes.

    Each engagement is approached with the same rigour: thorough documentation review, on-site technical inspection, and a clear, actionable reporting framework designed for investor-grade decision making.

    Offices, Logistics & Industrial

    Offices, warehouses, industrial complexes, and refrigerated facilities

    Production Center7,858 sqm

    Client / Investor

    Audiovisual group

    Location

    Getafe, Madrid

    Service

    Advisory & Asset Analysis

    Singular corporate asset linked to specialised operational use. Technical analysis, functional understanding and solid narrative for market and investors. Operational complexity requiring rigorous reading.

    Corporate Building11,932 sqm

    Client / Investor

    Corporate group

    Location

    Villaviciosa de Odón, Madrid

    Service

    Advisory & Structuring

    Large-scale corporate asset with significant weight in a structured operation — relevant in terms of surface, use, and capacity to attract investors when properly structured technically and documentally.

    Office Building3,861 sqm

    Client / Investor

    Real estate investment manager

    Location

    Madrid

    Service

    Advisory & Asset Analysis

    6-storey office building (ground + 5), floor plates 405–744 sqm, 10 parking spaces, rooftop terrace. Built 1976, partial refurbishment 2017. Compatible uses: residential, hospitality, commercial. Repositioning potential.

    Warehouse20,000 sqm

    Client / Investor

    Real estate investment manager

    Location

    Antequera, Málaga

    Service

    Technical Due Diligence

    Comprehensive technical and documentary review supporting the investor's acquisition decision on a large-format logistics asset in southern Spain.

    Warehouses43,000 sqm

    Client / Investor

    Real estate investment manager

    Location

    Bilbao & Madrid

    Service

    Technical Due Diligence & Energy Audits

    Multi-site assessment covering structural condition, MEP systems, and energy performance across two major logistics hubs.

    Refrigerated Building2,000 sqm

    Client / Investor

    Food distribution group

    Location

    Madrid

    Service

    Technical Due Diligence

    Specialised review of a temperature-controlled facility, evaluating refrigeration systems, insulation integrity, and regulatory compliance.

    Warehouse10,000 sqm

    Client / Investor

    Real estate investment manager

    Location

    Zaragoza

    Service

    Technical Due Diligence

    Technical assessment of a mid-size logistics asset in a key distribution corridor, with focus on structural and operational risk.

    Warehouse4,500 sqm

    Client / Investor

    Real estate investment manager

    Location

    Valencia

    Service

    Technical Due Diligence & Energy Audit

    Integrated technical and energy assessment supporting acquisition analysis in one of Spain's primary logistics markets.

    Warehouses15,000 sqm

    Client / Investor

    Real estate investment manager

    Location

    Several Locations

    Service

    Energy Audits

    Portfolio-wide energy performance evaluation across multiple warehouse assets, identifying efficiency improvements and CAPEX priorities.

    Warehouse & Project Monitoring5,500 sqm

    Client / Investor

    Real estate investment manager

    Location

    Barcelona

    Service

    TDD & Project Monitoring

    Combined due diligence and ongoing project monitoring, ensuring construction quality and timeline adherence for a new logistics development.

    Warehouse19,000 sqm

    Client / Investor

    Real estate investment manager

    Location

    Oviedo

    Service

    Technical Due Diligence

    In-depth technical review of a large industrial asset in northern Spain, assessing building condition, installations, and CAPEX requirements.

    Warehouse13,000 sqm

    Client / Investor

    Real estate investment manager

    Location

    Madrid

    Service

    Technical Due Diligence

    Detailed assessment of a logistics facility in the Madrid metropolitan area, supporting the investor's risk evaluation framework.

    Warehouse2,500 sqm

    Client / Investor

    Real estate investment manager

    Location

    Madrid

    Service

    Technical Due Diligence

    Technical review of a compact logistics unit with focus on building envelope, systems condition, and regulatory status.

    Warehouse5,200 sqm

    Client / Investor

    Real estate investment manager

    Location

    Barcelona

    Service

    Technical Due Diligence

    Thorough technical evaluation in the Barcelona logistics corridor, covering structural integrity and installation performance.

    Warehouse & Project Monitoring4,000 sqm

    Client / Investor

    Real estate investment manager

    Location

    San Sebastián

    Service

    TDD & Project Monitoring

    Due diligence combined with construction phase oversight, ensuring alignment between project specifications and delivery quality.

    Retail & Shopping Centres

    Shopping centres, retail parks, car dealerships, and commercial premises

    Shopping Centre42,000 sqm

    Client / Investor

    Real estate investment manager

    Location

    Valencia

    Service

    Technical Due Diligence

    Comprehensive assessment of a major shopping centre, evaluating structural systems, common areas, MEP infrastructure, and tenant fit-out conditions.

    Retail de gran formato33,000 sqm

    Client / Investor

    Real estate investment manager

    Location

    León

    Service

    Technical Due Diligence

    Large-format retail asset evaluation including building condition, car park infrastructure, and compliance with current building regulations.

    Retail Park12,000 sqm

    Client / Investor

    Real estate investment manager

    Location

    Figueres

    Service

    Technical Due Diligence

    Technical review of a multi-tenant retail park, assessing unit conditions, shared infrastructure, and maintenance requirements.

    Commercial Centre13,000 sqm

    Client / Investor

    Real estate investment manager

    Location

    Vigo

    Service

    Technical Due Diligence

    Detailed evaluation of a commercial complex in northwestern Spain, covering building fabric, services, and environmental risk factors.

    Commercial Premises500 sqm

    Client / Investor

    Real estate investment manager

    Location

    Alicante

    Service

    Technical Due Diligence

    Focused technical review of a high-street commercial unit, assessing condition, accessibility compliance, and fit-out status.

    Car Dealership14,000 sqm

    Client / Investor

    Real estate investment manager

    Location

    Málaga

    Service

    Technical Due Diligence

    Technical review of a major automotive retail facility, evaluating showroom, workshop, and exterior areas including environmental factors.

    Supermarkets & Food Retail

    Supermarkets, municipal markets, and food distribution

    Supermarket2,900 sqm

    Client / Investor

    Real estate investment manager

    Location

    Barcelona

    Service

    Technical Due Diligence

    Technical assessment of a prime supermarket asset, reviewing building systems, cold chain installations, and operational suitability.

    Two Supermarkets2,800 sqm

    Client / Investor

    Real estate investment manager

    Location

    Gijón & Avilés

    Service

    Technical Due Diligence

    Parallel evaluation of two supermarket assets in Asturias, providing a comparative risk and condition analysis for portfolio acquisition.

    Supermarket7,000 sqm

    Client / Investor

    Real estate investment manager

    Location

    Almería

    Service

    Technical Due Diligence

    Large-format supermarket review covering structural condition, refrigeration systems, loading areas, and regulatory compliance.

    Municipal Market5,000 sqm

    Client / Investor

    Real estate investment manager

    Location

    Madrid

    Service

    Technical Due Diligence

    Assessment of a public market facility, evaluating building condition, health and safety compliance, and refurbishment needs.

    3 Supermarkets4,500 sqm

    Client / Investor

    Real estate investment manager

    Location

    Several Locations

    Service

    Technical Due Diligence

    Portfolio-level assessment of three supermarket assets, delivering a unified risk framework for the investor's acquisition committee.

    Supermarket2,000 sqm

    Client / Investor

    Real estate investment manager

    Location

    Barcelona

    Service

    Technical Due Diligence

    Focused review of a neighbourhood supermarket, assessing building envelope, MEP systems, and short-term CAPEX requirements.

    Petrol Stations

    Fuel stations and related assets

    Petrol Stations1,300 sqm

    Client / Investor

    Real estate investment manager

    Location

    Leganés, Madrid

    Service

    Technical Due Diligence

    Specialised assessment of fuel retail infrastructure, including tank condition, environmental compliance, and canopy structures.

    Two Petrol Stations13,000 sqm

    Client / Investor

    Real estate investment manager

    Location

    Madrid & Bilbao

    Service

    Technical Due Diligence

    Dual-site evaluation covering fuel systems, environmental risk, convenience store facilities, and regulatory licensing status.

    8 Petrol Stations120,000 sqm

    Client / Investor

    Real estate investment manager

    Location

    Several Locations

    Service

    Technical Due Diligence

    Large-scale portfolio assessment across eight fuel stations nationwide, delivering standardised risk reporting for an institutional acquisition.

    Hotels

    Hospitality assets across Spain

    Hotel Portfolio (6 assets)30,100 sqm

    Client / Investor

    Real estate investment manager

    Location

    Alcalá de Henares, Barberà del Vallès, Cornellà, Alicante, Murcia, Málaga

    Service

    Sale & Lease Back · Energy Audit

    Energy audit of a portfolio of six hotels across Spain (Campanile), with comparative analysis between assets, identification of efficiency improvements, and technical support for sustainability and operational optimisation decision-making.

    Hotel1,500 sqm

    Client / Investor

    Real estate investment manager

    Location

    Cádiz

    Service

    Technical Due Diligence

    Assessment of a coastal hospitality asset, evaluating building condition, MEP systems, guest area standards, and renovation needs.

    Hotel2,700 sqm

    Client / Investor

    Real estate investment manager

    Location

    Zaragoza

    Service

    Technical Due Diligence

    Technical review of an urban hotel asset, covering structural condition, room inventory, public areas, and compliance with hospitality regulations.

    This track record reflects our capacity to deliver consistent, high-quality technical advisory across diverse asset types, geographies, and transaction structures. Every engagement is treated with the same level of rigour, discretion, and strategic focus.

    Calculadora orientativa: valor y renta de tu operación

    Introduce dos variables y obtén la tercera. Estimación orientativa para operaciones sale & leaseback NNN.

    Simulador orientativo; no constituye asesoramiento financiero. Supone arrendamiento NNN (renta neta). El valor real depende de la calidad del inquilino, el WALB, la ubicación y el estado técnico del activo.

    ESG & Technology

    ESG Is Not an Add-on. It's a Value Driver.

    In sale & leaseback transactions, ESG is not a compliance exercise — it is a strategic lever. Assets with strong ESG credentials attract better investors, command stronger valuations, and carry lower long-term risk.

    We integrate ESG thinking into every stage of the advisory process: from initial asset assessment to investor presentation. This ensures your property is not just transaction-ready — it is investment-grade.

    ESG enhancement also strengthens our ability to attract new clients and investors who are actively seeking sustainable deal flow — creating a virtuous cycle of value for all parties.

    Specialized Technology for ESG Analysis in Sale & Leaseback Operations

    A technology solution designed to structure, centralize, and analyze ESG information in sale & leaseback operations. It provides consistent, traceable, and auditable data, reinforcing investor confidence and enabling faster, more rigorous due diligence processes.

    E

    Asset Quality Improvement

    ESG upgrades increase operational efficiency, reduce tenant risk, and future-proof the asset.

    S

    Investor Attractiveness

    Sustainability-aligned assets are preferred by institutional funds with ESG mandates.

    G

    Risk Reduction

    Environmental, social, and governance transparency reduces perceived and actual transaction risk.

    Frequently asked questions about sale & leaseback in Spain

    Sale & leaseback is a transaction in which a company sells its property to an investor and, at the same time, signs a long-term lease to keep using that same asset. The company obtains immediate liquidity while keeping full operational continuity in its premises. It is especially useful for companies that want to release capital without relocating.

    The most common assets are industrial and logistics warehouses, retail premises, retail parks, offices and hotels. In general, any operational (non-residential) property with a minimum value of €2M, stable occupancy and a solvent tenant can be viable. Tenant quality and lease length are key factors for the investor.

    A well-structured process can be completed in 3 to 6 months, depending on the complexity of the asset, the investor profile and the technical and legal due diligence. Rigorous preparation of the asset and documentation significantly reduces timelines and execution risk.

    The tax implications depend on the structure of the transaction and the seller's profile. In general, the selling company may defer the corporate income tax impact on the capital gain, and lease payments are deductible as an operating expense. Specialist tax advice is essential to optimise the structure before closing.

    In 2026, indicative minimum yields for institutional investors range from 4.1% for prime retail premises in Madrid or Barcelona to 8.5% for higher-risk secondary assets. Prime logistics assets sit between 5% and 6%. The exact yield depends on asset type, location, lease length (WALB), tenant quality and technical condition.

    Yes. That is precisely how sale & leaseback works: you sell the property and simultaneously sign a long-term lease (usually 10 to 20 years) that lets you keep using the asset without interrupting your business. Day-to-day operations are not affected.

    We work with assets from €2M. Below that threshold, the typical institutional investor profile is not accessible and the relative cost of structuring is not efficient. Contact us if you are unsure whether your asset meets the criteria.

    Is your asset eligible?

    Find out in 3 minutes whether your property matches the profile investors look for

    10 questions. No personal data. Immediate result with a free value report.

    This analysis is fully confidential. We store no data, require no registration and none of your answers are saved on our servers. The report is generated and downloaded directly in your browser.

    Question 1 of 1010%

    Are you the registered owner of the property?

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    Success story

    How an international audiovisual company used its real estate to support a global restructuring

    An international audiovisual company was carrying out a global restructuring and needed to unlock capital tied up in real estate. We analysed their main properties in Spain from a technical and investment perspective, assessing which could be part of a sale & leaseback without affecting business continuity. We supported the deal strategy, identified the right investor profile and structured lease terms aligned with operational needs. The transaction enabled the company to convert real estate into liquidity, retain strategic facilities and gain greater financial flexibility.

    Is your company reviewing its real estate structure or looking to unlock capital? We assess whether a sale & leaseback can be part of the strategy.

    Request a confidential analysis

    Confidential Inquiry

    Confidential Diagnosis

    Briefly tell us about your situation. We respond within 48 hours, no commitment, fully confidential.

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    In the media

    Sector Ejecutivo — Business & Economy Magazine (No. 323)

    Thousands of companies fail to make the most of their real estate assets

    September 2026

    Interview on sale & leaseback, the NextGen TDD concept and the sale & leaseback of an audiovisual group's production centre.

    Coming soon online

    Cadena de Suministro

    The bricks holding back your growth

    3 July 2026

    Sale & leaseback as a solution for logistics companies with capital tied up in their own real estate assets.

    The reference book

    VMT Guide: Building Consciously Beyond Bricks and Returns

    VMT Guide: Building Consciously Beyond Bricks and Returns

    Verónica Martín Tolosa

    ROHO, 2025

    The reference book for executives and CFOs who want to understand the real value of their real estate assets before making any decision about them.