Global asset manager Tikehau Capital has completed its acquisition of 26 commercial real estate assets from France’s Groupe Casino for over €200 mln.
This acquisition is part of a larger deal announced in June 2024, involving a total of 30 assets.
The portfolio consists primarily of hypermarkets and supermarkets leased to major French retailers such as Intermarché, Carrefour, and Auchan. The acquisition aligns with Tikehau Capital's value-add real estate investment strategy which focuses on three core pillars: climate action, biodiversity, and inclusive neighborhoods.
The company plans to revitalize these properties through adaptive reuse, focusing on climate action, biodiversity, and inclusive neighborhoods. By reducing energy consumption and CO2 emissions while supporting local communities, Tikehau Capital aims to create long-term value.
The transaction aligns with the restructuring of the debt of IGC, Groupe Casino's property subsidiary that owns the assets.
The remaining assets are expected to be sold in the coming weeks, subject to standard conditions.
Groupe Casino will continue to manage the acquired properties for the next five years, ensuring operational continuity.
Casino Group plans to use the proceeds from the sale of real estate assets to reduce its financial debt to bondholders of its subsidiary, Quatrim.
