ICG Real Estate Agrees to Acquire €203.5M Portfolio of Lidl Stores in Europe
LONDON, Nov. 20, 2025 — ICG Real Estate has agreed to acquire a portfolio of Lidl grocery stores across Europe for €203.5 million, the firm announced. The transaction is structured as a sale-and-leaseback arrangement.
Details of the Real Estate Acquisition
The portfolio comprises 24 retail properties located across multiple European markets. The acquisition was made through AIG Global Real Estate's Strategic Real Estate II Fund. Further details on the specific locations, lease terms, and property sizes were not disclosed.
According to ICG Real Estate, the transaction aligns with its investment strategy for Strategic Real Estate II, which targets income-generating real estate assets. Lidl will continue to occupy the properties under long-term lease agreements.
Market Context
Sale-and-leaseback transactions are a common structure in the retail real estate sector, allowing operators to release capital while maintaining operational control of their stores. Such transactions have remained active in the European market, particularly for essential retail assets.
Strategic Rationale
ICG Real Estate stated that the acquisition supports its focus on stable, income-producing assets. Lidl, as the seller and tenant, continues to expand its retail footprint across Europe. Financial and operational details beyond the purchase price were undisclosed.
Sources
Source: ICG Real Estate Press Release