GIC and Barzel Properties completed the acquisition of nine Carrefour assets from Carrefour Brazil for $241m.

Transaction Tags

• Brazil
• retailer
• Diversified Retailers
• Acquisition
• Cross Border
• Majority
• Private
• Private Equity
• Completed
• Friendly

Synopsis

GIC and Barzel Properties, a real estate management and development firm, completed the acquisition of nine Carrefour assets from Carrefour Brazil, a food retail group, for $241m. "We are thrilled to complete the acquisition of nine of Carrefour Brazil Group’s assets alongside our strategic partner, Barzel Properties. GIC is confident in the portfolio’s long-term potential in Brazil, which is underscored by the stores’ strong operational performance and warehouses’ strategic locations in major logistics markets,” Lee Kok Sun, GIC Chief Investment Officer of Real Estate.

Sources