W. P. Carey announces €102m investment in hypermarket portfolio in France
W.P. Carey Inc. announced a €102 million($119 million) sale-leaseback of three hypermarket properties located in Southern and Central France. The portfolio comprises a total of 39,500 square meters (424,800 square feet) and is triple-net leased to Distribution Casino France, a wholly owned subsidiary of Casino Guichard-Perrachon (Casino), one of the largest food retailers in the world.
Key Facts:Market-leading essential retailer: Established in 1898, Casino is one of the world’s largest food retailers, with approximately 11,000 stores in France and Latin America. Casino maintains a multi-format strategy, operating discount, convenience, cash-and-carry, supermarket and hypermarket retail stores under various brands. It is also the second largest ecommerce retailer in France. Established locations with limited local competition: The acquired hypermarkets are located in Southern and Cent