Global alternative asset manager Tikehau Capital has acquired a supermarket portfolio in Italy in a €37m sale and leaseback.
Tikehau, through an Italian fund managed by Investire, has acquired the five properties located along the Italian Tuscan coast from grocery operator Unicoop Tirreno.
As part of the deal, a new triple-net lease with a 24-year term has been agreed with Unicoop Tirreno, Tikehau said.
Edoardo Crotta, executive director of real estate at Tikehau Capital, said: “We are very pleased with this acquisition, which consists of mission-critical assets for the Unicoop Tirreno distribution back-bone, located across key tourist hubs and providing trading performances well in excess of the Italian average.
“We believe in having exposure to high-quality, daily needs-based real estate retail, which has proven to be a stable and defensive asset class with a positive growth outlook in the long term.”
Frédéric Jariel, co-head of real estate at Tikehau Capital, said: “Our ability to source and execute off-market transactions in a difficult environment demonstrates the global reach and depth of our relationships.
“We look forward to further enhancing these properties, especially from an ESG perspective, with the goal of making these assets even more attractive to end users.”
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