Greenman has bought €143m worth of food retail properties for its Greenman OPEN fund.
The German specialist food retail real estate investment manager has acquired four MIOS centres from EDEKA MiHa for €25m in a sale and leaseback transaction and has also bought a portfolio of 29 EDEKA MiHa supemarkets worth €118m from TLG Immobilien.
Greenman said by acquiring the MIOS centres, Greenman OPEN now owns properties that span each of EDEKA’s operational brands and will have the opportunity to witness at “first hand” how EDEKA’s various retail concepts develop in the long term.
Including these acquisitions, Greenman has increased the volume of Greenman OPEN’s assets to €570m, making it Germany’s largest food retail-focused investment fund, the manager said.
Johnnie Wilkinson, CEO and executive director of Greenman Investments, said: “Our latest purchases for the Greenman OPEN fund complement our existing portfolio of food-dominated retail stores across Germany.
“This is our 4th sale and leaseback transaction with EDEKA MiHa and we look forward to developing our long-standing relationship with EDEKA and maximising the potential of this portfolio in the coming years”.