US sale and leaseback specialist WP Carey has announced a €102 mln sale-leaseback of three hypermarket properties located in Southern and Central France.
The portfolio comprises a total of 39,500 m2 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.
‘We are thrilled to continue our positive momentum in Europe with the completion of another off-market grocery retail sale-leaseback, an asset class which has proven its resilience during the Covid-19 pandemic,’ said Christopher Mertlitz, head of European investments, WP Carey. ‘Sale-leasebacks enable companies to easily unlock the full value of their real estate and redeploy into their core businesses. We welcome the addition of these high-quality essential retail assets to our growing portfolio, and we look forward to building on our partnership with our newest tenant.’
