W P Carey completed the acquisition of a hypermarket portfolio from Casino Guichard-Perrachon for $119m.

W P Carey, net lease REIT specializing in corporate sale-leasebacks, completed the acquisition of a hypermarket portfolio from Casino Guichard-Perrachon, one of the largest food retailers in the world, for $119m. "We are thrilled to continue our positive momentum in Europe with the completion of another off-market grocery retail sale-leaseback, an asset class which has proven its resilience during the COVID-19 pandemic. Sale-leasebacks enable companies to easily unlock the full value of their real estate and redeploy into their core businesses. We welcome the addition of these high-quality essential retail assets to our growing portfolio, and we look forward to building on our partnership with our newest tenant," Christopher Mertlitz, W P Carey Head of European Investments.