International law firm Simmons & Simmons advised a joint venture comprising UK investment manager Atrato Group Limited and GIC on the acquisition from the Carrefour Group of a portfolio of real estate assets located in France and Spain, as part of a sale & leaseback transaction. Simmons & Simmons also advised this joint-venture on the financing of this transaction.
The acquisition from the Carrefour Group of the portfolio, worth a total of approximately €290 million, covers 35 real estate assets comprising 6 hypermarkets and 26 supermarkets located in France, and 3 hypermarkets located in Spain. The assets acquired by the joint-venture have been leased back to the Carrefour Group under new commercial leases with a term of 12 years.
The firm's multidisciplinary, cross-border team was led and coordinated by Elisa Bocianowski, Partner in the firm's Paris office.
The French team also comprised:
- Real Estate Law and Transactional Practice: Louis Delestrée, Counsel, Antoine Delagrange, Salomé Setrouk, Victoire Potel and Judriana Bongolo;
- Tax Law: Chloë Nessim, Partner, Leila Chikhi, Carla Calvet-Scalia and Julien Luydlin;
- Real Estate Finance: Céline Larmet, Partner, Alexandre Grevet, Counsel, and Sumeyra Karabulut.
The firm's Spanish team was led and coordinated by Alfonso Fernández-Puebla, Partner in the firm's Madrid office.
The Spanish team also comprised:
- Real Estate Law and Transactional Practice: Ángel Maestro Martí, Counsel, Javier del Álamo Lombardía and Natalia Giménez;
- Tax Law: Juan Sosa, Partner, and Juan Manuel Cocho Archiles, Counsel;
- Real Estate Finance: Ignacio González, Counsel, Pablo García-Foncillas and Iria Baillo.
