Dentons advises Blue Owl Capital and joint venture partner Supermarket Income REIT PLC on £215 million secured term loan

London-Dentons has advised US alternative asset manager Blue Owl Capital and its joint venture partner Supermarket Income REIT PLC (SUPR) on the completion of a £215 million secured term loan through a bank syndicate comprising Barclays, HSBC, ING and SMBC Group.

Dentons advised Blue Owl Capital on their initial joint venture with SUPR earlier this year, marking the company's first major investment in the UK grocery sector, forming an initial portfolio of eight supermarket properties contributed by SUPR, with a combined value of £403 million.

The partnership also supports SUPR's capital recycling strategy, enabling it to reduce debt and reinvest in new opportunities. The seed portfolio-comprising five Tesco stores, two Sainsbury's, and a Morrisons-features omni-channel locations supporting both in-store and online grocery fulfilment.

The Dentons team was led by Co-Chair of Global Real Estate Evan Z. Lazar, Head of UK Real Estate Rob Thompson and UK Banking and Finance partner Simon Tweedle. The UK Banking and Finance team also included Pamela Gilmour (counsel) and Cecilia Donkor (associate).

Evan Lazar commented: "It's a pleasure to advise the Blue Owl Capital and SUPR joint venture as it seeks to grow its portfolio over the coming years."

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