I
CG Real Estate will purchase a €203.5 million portfolio of 24 Lidl grocery sites in a sale‑and‑leaseback deal that broadens its long‑term, income‑generating European holdings. The transaction, executed for the Strategic Real Estate II Fund, is one of the firm’s biggest retail‑anchored acquisitions and deepens its stake in the resilient non‑discretionary grocery market.

    The 50,000 m² portfolio covers 17 sites in the UK, 4 in Ireland and 3 in Spain, with individual stores ranging from 1,780 to 2,325 m² and at various development stages. ICG will buy each property upon practical completion, with the first closing in October 2025 and the final one scheduled for July 2026. All assets will be leased back to Lidl on long‑term triple‑net terms, freeing the retailer’s capital for expansion while giving ICG investors a secure, predictable rental stream backed by a global grocery leader.

    Lidl reported €88.6 billion in revenue and €5.5 billion in EBITDA in 2024, operating over 12,000 stores in more than 30 countries. The deal cements ICG’s standing in the European sale‑and‑leaseback arena, where it targets mission‑critical properties with durable cash flows and leverages its proprietary sourcing network to remain a preferred partner for corporates seeking liquidity.

    Krysto Nikolic, Global Head at ICG Real Estate, said: “This acquisition aligns with our SRE II strategy, securing purpose‑built, mission‑critical assets let on long‑term leases to Lidl, a leading non‑discretionary grocery brand. It offers Lidl a path to recycle capital into core operations while delivering our investors stable, growing rental income.”