Net-lease focused real estate investment trust (REIT) WP Carey has added two retail assets worth £20m (€23.7m) to its UK portfolio.
The NYSE-listed REIT said it has bought a supermarket triple-net leased to supermarket chain Morrisons and a McDonald’s drive-through food retail property. Both assets are located at Lime Square Retail Park in Manchester.
Christopher Mertlitz, head of European investments at WP Carey, said: “This acquisition underscores our commitment to securing high-quality opportunities in the grocery retail sector. Morrisons and McDonald’s are trusted and enduring brands, and these assets, located in a thriving urban area, are exemplary additions to our portfolio.
“We are pleased to expand our presence in the UK and look forward to building on this success with our valued partners.”
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