The x+bricks Group, a grocery-anchored real estate platform in Germany, has acquired a total of 17 grocery-anchored assets in the country for a total of €55 mln.
The properties are mostly let to retailers Netto and Kaufland and have a weighted average lease term of 12.6 years.
‘Since the foundation of x+bricks in 2018, we have demonstrated exponential growth and aim to continue on this path. Thanks to our excellent market access, we have once again successfully delivered on our growth strategy,’ said Sascha Wilhelm, CEO of x+bricks Group. ‘We continue to strengthen our position as a leading and one of the fastest growing platforms for grocery-anchored real estate in Germany.’
‘Both transactions are an ideal add-on to our highly valuable portfolio. This makes us an even more attractive partner for the grocery retail industry,’ added Tom Dänzel, Chief Transaction Officer of x+bricks Group.
x+bricks was founded by Sascha Wilhelm in 2018 and currently owns 200 properties throughout Germany valued at some €1 bn.
