Supermarket Income REIT buys Carrefour portfolio in France

Mon, 29th Apr 2024 09:46

(Alliance News) - Supermarket Income REIT PLC on Monday said it has acquired the Carrefour SA supermarket portfolio in France for EUR75.3 million.

Supermarket Income is a London-based real estate investment trust, with a GBP1.73 billion portfolio of assets occupied by the likes of chains including Tesco PLC, J Sainsbury PLC and Waitrose.

To fund the acquisition, the Supermarket Income has drawn EUR81.7 million from its existing HSBC revolving credit facility, the firm said.

In addition, the firm said that the portfolio acquisition comprises of 17 "strong performing omnichannel supermarkets" which are operated under the Carrefour Market brand. The portfolio has been acquired with a weighted average lease term of 12 years.

According to Supermarket Income, Carrefour is one of the largest grocers in the world, achieving total sales of EUR94 billion in 2023. Carrefour operates across 30 countries.

Shares in Supermarket Income were up 0.4% at 73.00 pence each in London on Monday morning.

By Sabrina Penty, Alliance News reporter

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