Slate Asset Management has invested €72m to buy grocery-anchored and essential-use properties in Germany.

The alternative asset manager said the two portfolios were acquired in separate deals by Slate European Real Estate Fund III, a grocery real estate fund which raised €250m in March.

The portfolios comprise 60,000sqm across Germany and are currently leased to grocery and other essential-use tenants.

Brady Welch, Slate’s London-based founding partner, said: “Both portfolios have performed well throughout the COVID-19 pandemic, providing essential goods and services to consumers on a daily basis even throughout lockdown periods.

“We continue to see attractive opportunities focused on grocery and essential-use real estate across Europe and look forward to deploying further capital across the continent.”

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