W. P. Carey Announces $119 Million (€102 Million) Investment in Hypermarket Portfolio in France
NEW YORK , April 8, 2021 |PRNewswire| -- W. P. Carey Inc. (NYSE: WPC), a leading net lease REIT specializing in corporate sale-leasebacks, build-to-suits and the acquisition of single-tenant net lease properties, today announced a $119 million (€102 million) sale-leaseback of three hypermarket properties located in Southern and Central France . The portfolio comprises a total of 424,800 square feet (39,500 square meters) 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. Key Facts: Market-leading essential retailer: Established in 1898, Casino is one of the world's largest food retailers with approximately 11,000 stores in France and Latin America . Casino maintains a multi-format strategy, operating discount, convenience, cash and carry, supermarket and hypermarket retail stores under various brands. It is also the second largest e-commerce retailer in France . Established locations with limited local competition: The acquired hypermarkets are located in Southern and Full story available on Benzinga.
W. P. Carey Announces $119 Million (€102 Million) Investment in Hypermarket Portfolio in France
NEW YORK , April 8, 2021 |PRNewswire| -- W. P. Carey Inc. (NYSE: WPC), a leading net lease REIT specializing in corporate sale-leasebacks, build-to-suits and the acquisition of single-tenant net lease properties, today announced a $119 million (€102 million) sale-leaseback of three hypermarket properties located in Southern and Central France . The portfolio comprises a total of 424,800 square feet (39,500 square meters) 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. Key Facts: Market-leading essential retailer: Established in 1898, Casino is one of the world's largest food retailers with approximately 11,000 stores in France and Latin America . Casino maintains a multi-format strategy, operating discount, convenience, cash and carry, supermarket and hypermarket retail stores under various brands. It is also the second largest e-commerce retailer in France . Established locations with limited local competition: The acquired hypermarkets are located in Southern and Full story available on Benzinga.