Marsh Raises $78 Million in Sale-Leaseback

INDIANAPOLIS - Marsh Supermarkets here raised about $77.8 million by selling eight supermarkets to a real estate company and agreeing to lease them back, according to the properties‘ buyer, H&R REIT of Toronto. The eight properties acquired by H&R were among an unspecified number of properties acquired for sale-leaseback by Cardinal Paragon, Dallas, and its New York-based partner, Drawbridge Special Opportunities Advisors, as part of a previous agreement with Marsh‘s new owner, Sun Capitral Partners, an H&R spokesman told SN. “The sale-leasebacks will allow us to re-invest in our business to improve our company,” a Marsh spokeswoman told SN. Jon Springer