Supermarket Income REIT has used the proceeds from the sale of the Sainsbury’s reversion portfolio to pay off its £202.8m debt facility.
The sale, which completed on 17 March, saw the supermarket take back control of 26 sites, which had been held in a joint venture vehicle.
The REIT has received £279.3m as the first tranche of the total £430.9m to be paid by Sainsbury’s.
It has used the proceeds to repay in full its debt facility with JP Morgan Chase Bank, which was secured against its investment in the SRP Portfolio.
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