Patrizia acquires 24 Lidl supermarkets for over 160 million across Italia, France and Spain

Patrizia, a real-asset investment management firm, has acquired a portfolio comprising 24 newly opened Lidl supermarkets in Italia, France and Spain. The value of the transaction has not been confirmed by the company, but rumours suggest it exceeds €160 million. Specifically, the portfolio comprises 10 properties in Italia, eight in Spain and six in France, with a total retail area of approximately 50,000 square metres.

The properties, all of which are newly built, are fully let to Lidl through its respective operating companies in Italia, Spain and France. The long-term, inflation-indexed lease agreements ensure that Patrizia’s clients enjoy stable cash flows that are protected against price rises, confirming the defensive nature that characterises the large-scale food retail sector.

“The food retail sector,” said Christie Wright, co-head of investment management at Patrizia, “continues to offer investment opportunities where the quality of the property and the strength of the operator guarantee sustainable returns over the long term. The sector also benefits from long-term structural trends, including urbanisation and the steady demand for essential retail outlets in strategic locations. This portfolio fits within our strategy, bringing with it top-tier assets in three key European markets.” Patrizia currently manages approximately €4.2 billion of assets in the retail sector across Europe.