Supermarket Income REIT (SUPR) has entered into a strategic joint venture with funds managed by Blue Owl Capital.
The joint venture has been seeded with eight high yielding, omnichannel supermarket assets from SUPR’s existing portfolio, which have been transferred into the joint venture at a 3 percent premium to book value, as at 31 December 2024. The seed portfolio has a combined value of £403 million ($tk million), an average net initial yield of 6.6 percent (cap rate of 7.1 percent) and a WAULT of 11 years.
The company will retain a 50 percent stake in the joint venture and therefore will receive a net cash consideration of £200 million ($tk million) in respect of the sale of the assets.
The joint venture provides a platform for further growth, seeking to acquire additional high yielding supermarket assets, with a view to grow the assets of the joint venture up to £1 billion ($tk billion) during the coming years. The intention of the joint venture partne
