Global alternative asset management group Tikehau Capital has acquired a portfolio consisting of five properties with strategically located supermarkets across tourist destinations in Italy for €37 million.
The assets are located along the Italian Tuscan coast adjacent to tourist hot-spot towns, such as Castiglione della Pescaia, Forte dei Marmi, Venturina Terme, Orbetello and San Vincenzo.
The majority of the portfolio has been built or heavily refurbished over the last 10 years and primarily consists of stand-alone assets below 2,500 sqm, providing a resilient layout and format.
The transaction, valued at €37 million, was structured as a sale and leaseback from established grocery operator Unicoop Tirreno, a co-operative brand of the Italian large-scale retail trade (Coop) and market leader on the Tuscan coast. The new agreement consists of a
triple net lease with a 24-year term and adjusted against inflation.
Unicoop Tirreno will continue to manage the supermarkets, and will make no changes at commercial, social and employee level.
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