Sainsbury's pays $524 mln for full ownership of store investment vehicles
We’re pleased to see our client Supermarket Income REIT (SUPR) has exchanged contracts in the sale of its interest in the Sainsbury’s Reversion Portfolio to Sainsbury's for a total gross consideration of £430.9 million (excluding costs).
For professional investors only. Capital at risk.
Our Director Ben Green, commented:
"This investment has been highly accretive for SUPR’s shareholders and is further evidence of the long-term strength and value of UK grocery property."
Patrick Dunne, Director of Group Property, FM & Procurement at Sainsbury's, also commented:
"We are pleased to have reached a positive outcome…and [we] look forward to continuing to work with Supermarket Income REIT in the future."
Read the RNS here for more information including background of the transaction: https://lnkd.in/e7HzzwTC
You can also read the summary from Reuters here: https://lnkd.in/ecV4Qyzb