LeadCrest Capital Partners has made a €70m investment in a 33,500sqm food supermarket portfolio in France.
The European sale-leaseback and build-to-suit investment firm said it has bought six food supermarkets and agreed a forward purchase deal for a seventh asset. The seventh asset is expected to be completed in the fourth quarter of the year.
The acquired assets are located mainly in Paris, Greater Paris and Southern France.
LeadCrest said the assets are let on long term triple net leases to Monoprix Exploitation and Distribution Casino France.
Georges Asmar, portfolio manager at LeadCrest Capital Partners, said: “The newly formed partnership with the Casino Group is perfectly aligned with our company’s strategy to offer an alternative financing solution to companies who seek growth via innovation in a resilient market.
“We value this transaction as a case study for the European retail industry that qualifies sale-leaseback today as an effective post-COVID financing alternative for our partners. The food retail sector has proven to be one strategic pillar for LeadCrest, and we are delighted to see our expertise recognised by key players of the segment such as Casino.”
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