German food-retail-focused real estate fund Greenman OPEN has added 10 supermarkets worth around €60m to its portfolio.

Greenman has acquired the 22,500sqm Chase portfolio of supermarkets located in the federal states of Saxony, Bavaria, and Thuringia in a sale and leaseback deal with Edeka Nordbayern-Sachsen-Thüringen.

Greenman said the supermarkets will be managed by its subsidiary Gform in a long-term relationship with supermarket chain Edeka.

The deal follows Greenman’s acquisition of the Primus portfolio in 2023 also from Edeka Nordbayern-Sachsen-Thüringen.

James McEvoy, CEO of Gform and representative of Greenman OPEN, said: “We are delighted to be now entering into our second sale-and-lease-back agreement with Edeka Nordbayern-Sachsen-Thürigen, and the seventh time with the broader Edeka Group as Germany’s largest food retailer.

“This demonstrates our long-standing partnership with Edeka, which we continue to strengthen through a trusted collaboration.”

Stephan Köhler, the head of strategic real estate and portfolio management at Edeka Nordbayern-Sachsen-Thüringen, said: “The sale of this portfolio is part of our long-term financing strategy to secure our major projects in the areas of logistics and production as well as the development of our market portfolio. 

Greenman OPEN

Source: Gform

“For our strategy in the area of development and portfolio optimisation in Northern Bavaria, Saxony and Thuringia, we rely on long-standing partners. We are very pleased about entering into another collaboration with Greenman Open, an excellent investor who shares our long-term visions and goals. At the same time, we can rely on the expertise and long-term commitment of Gform as the manager of the properties.”

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