Intermediate Capital Group has completed its acquisition of the two-strong Gravitas portfolio, a Sainsbury's and a Tesco store, for £60 million, taking its recent investment in the supermarket sector to £90 million.
The supermarkets are the 112,000-square-foot Tesco Extra on Fratton Way in Fratton near Portsmouth and the 72,000-square-foot Sainsbury's on Brewery Road in Hoddesdon, Hertfordshire.
International investor ICG is investing for its Strategic Real Estate Series funds.
CBRE advised ICG on the acquisition. Morgan Williams advised the vendor.
The acquisitions follow ICG's circa £30 million acquisitions earlier this year of an Asda superstore at 31 Britannia Way in Clydebank from LondonMetric following its takeover of LXi REIT, for £10.4 million, and a 40,000-square-foot Tesco in Sowerby Bridge in West Yorkshire.