Supermarket Income REIT teams up with British Airways fund for stake in 26 Sainsbury’s stores

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Supermarket Income REIT has entered into a 50-50 joint venture (JV) with British Airways Pension Fund to acquire a stake in a portfolio of 26 Sainsbury’s supermarkets.

The 25.5% stake is being acquired from British Land Plc for GBP102 million (USD125 million).

Supermarket Income REIT’s contribution to the JV is GBP51 million excluding costs.

The sum will be satisfied from the REIT's existing cash balances and credit facilities.

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