Supermarket Income REIT announces two acquisitions and £412m credit facility
Supermarket Income REIT has today announced the acquisition of a Tesco superstore, M&S Foodhall and an Iceland in Chineham, Basingstoke, and the acquisition of an Asda supermarket in Carcroft, Doncaster, for a total purchase price of £82.9m. SUPR has also announced a new £412.1m unsecured credit facility with a bank syndicate comprising Barclays, Royal Bank of Canada, Wells Fargo and Royal Bank of Scotland International. This is the first time the Company has accessed unsecured debt financing.
Commenting on today’s news Ben Green, Director of Atrato Capital Limited, the Investment Adviser to Supermarket Income REIT plc, said
“These acquisitions further strengthen and complement SUPR’s portfolio. Chineham Park was a rare opportunity to acquire a Tesco, an M&S Foodhall and an Iceland in a single transaction. The Asda acquisition represents the longest duration asset in the portfolio with a very long 100 year lease. The new unsecured facility is a significant milestone for SUPR, the scale and quality of the portfolio now enabling the Company to finance on an unsecured basis. We are delighted with the level of financing support received from our existing and new relationship banks, affirming the robust nature of the grocery sector.”
Below is a video, shot with the investment team of Atrato Group, the advisors behind SUPR, highlighting the Group’s investment strategy
