German retail real estate investor Greenman Open has acquired a portfolio of six Edeka supermarkets in Germany for around €55 mln.
Five of the retail properties are located in the Bavarian towns of Bad Windsheim, Hof, Kemnath, Marktleuthen and Zell am Main, while the sixth is located in Dresden, eastern Germany.
The properties which total 20,660 m2, were acquired directly from Edeka Northern Bavaria-Saxony-Thuringia under a brand-new long-term sale-and-leaseback agreement. Greenman subsidiary, Gform, will manage the properties going forward.
As part of Greenman’s commitment to ensuring the sustainability of its properties, Greenman Energy will install photovoltaic systems and electric vehicle charging infrastructure at the assets, estimating that the rooftops will have a total annual electricity capacity of 1,000,000 kWh.
James McEvoy, 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.’
