(Alliance News) - Supermarket Income REIT PLC on Thursday said it acquired four supermarkets across the UK for a total purchase price of GBP76.4 million.
The acquisitions consisted of two Tesco PLC supermarkets located in Cheltenham and Merseyside as well as a J Sainsbury PLC supermarket and Marks & Spencer Group PLC Foodhall, both located in Glasgow.
The real estate investor said the purchase price for the four supermarkets reflected a combined net initial yield of 5.1%.
The acquisitions have been funded, in part, by the first drawdown on the firm's recently announced GBP412.1 million unsecured credit facility, Supermarket Income added.
The Sainsbury's and M&S sites also provide local health and convenience services, occupied by tenants including Superdrug and Costa Coffee. Supermarket Income said these adjoining units added to its existing non-grocery assets which represent less that 10% of its overall portfolio by value.
Shares in Supermarket Income were up 0.8% at 126.00 pence on Thursday in London.
By Heather Rydings; heatherrydings@alliancenews.com
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Supermarket Income (SUPR)
Tesco (TSCO)
Sainsbury's (SBRY)
Marks & Spencer (MKS)