German food-retail-focused real estate fund Greenman OPEN has acquired a portfolio of six assets for €55m in a sale-and-leaseback deal with supermarket chain EDEKA.
The 20,660sqm supermarket portfolio comprises five properties located in the Bavarian towns of Bad Windsheim, Hof, Kemnath, Marktleuthen and Zell am Main, while the sixth is located in Dresden, eastern Germany.
James McEvoy, the head of acquisitions at Greenman, said: “We are delighted to be entering into our sixth sale-and-leaseback agreement with EDEKA, with whom we share a long-standing partnership and a vision for a carbon-neutral future.
“With a total combined catchment population of 500,000, this acquisition complements the expanding Greenman OPEN portfolio and provides long-term and secure income for investors in the fund. As part of our ongoing commitment to creating a net-zero portfolio, the properties will be equipped with solar panels and hyper-charging infrastructure by our sister company Greenman Energy, as well as operating with green leases.”
Stephan Köhler, the head of strategic real estate and portfolio management at EDEKA Northern Bavaria-Saxony-Thuringia, said: “For our expansion strategy in Northern Bavaria we rely on proven cooperation partners. The sale-and-leaseback agreement with Greenman allows us to continue to focus on our core competencies and our sustainable development in the region. Crucial to this is our holistic and sustainable view on properties.”
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