Supermarket Income REIT Plc. has acquired a further stake in the beneficial interest in one of the United Kingdom’s largest portfolios of supermarket properties from an Aviva Investors managed fund. The purchase price was €132.3 million ($1559.81 million).
The 25.5 percent beneficial interest has been acquired through the company’s existing 50-50 joint venture with British Airways Pension Trustees Limited (BAPTL).
The joint venture acquired its initial 25.5 percent beneficial interest from British Land Plc. in May 2020. Following this second acquisition, the joint venture’s ownership in the portfolio is 51 percent. The remaining 49 percent beneficial interest is held by Sainsbury’s Plc.
The portfolio offers strong property fundamentals and scope for progressive valuation growth in excess of the company’s targeted annualized total shareholder return. The portfolio was originally created through two sale-and-leaseback transactions by Sainsbury’s in
