Supermarket Income REIT has acquired a portfolio of Carrefour supermarkets in France through a sale-leaseback transaction (SLB) for a total purchase price of €75.3 million ($80.7 million).
The SLB portfolio acquisition is in accordance with the company’s investment policy and comprises 17 strong-performing omnichannel supermarkets that are geographically diversified, with a weighting toward northern France, and operated under the Carrefour Market brand. The stores have an average gross internal area of 40,000 square feet. They have a long history of successful trading and form a key part of Carrefour’s Drive online grocery fulfilment network within their respective catchments.
The SLB portfolio has been acquired with a weighted average lease term of 12 years (with a tenant-only break option in year 10) with annual uncapped inflation-linked rent reviews. Carrefour is one of the largest grocers in the world, achieving total sales of €94 billion ($101 billion
