Slate Asset Management has invested €420m to acquire 45 grocery properties in Germany through four separate portfolio deals.
The global asset manager said the properties – acquired in the current quarter of the year – are situated near major population hubs across Germany and are fully leased under long-term agreements to grocery and everyday goods retailers, including REWE Group, Schwarz Group, Edeka Group and ALDI.
Sven Vollenbruch, managing director leading Slate’s European investments, said: “In a muted transaction environment, our European team has successfully executed nearly half a billion euros of essential real estate transactions in the first three months of the year.
“We are very pleased to further scale our exposure to this asset class with these portfolios of high-quality, stabilised grocery properties that are underpinned by Germany’s leading food and essential goods distributors.”
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