FRANKFURT, Germany--(BUSINESS WIRE)--Slate Asset Management L.P. (“Slate”), announced today that its affiliate acquired a grocery real estate portfolio in Germany for €31.5 million. The portfolio contains 27 properties with a lettable area of approximately 60,000 m². The properties are located within nine different states with a majority in Baden-Württemberg and Bavaria. The main tenants are Netto, Penny and Edeka. Goodwin Procter LLP acted as the legal and tax advisor to Slate on this transaction.
Since December 2016, Slate has completed a total of 10 portfolio acquisitions in Germany. Today, Slate’s European portfolio is comprised of 160 grocery real estate properties in Germany totaling over 260,000 m² of gross leasable area. The majority of the tenants are among the largest global retailers in the world, including Edeka, REWE, Lidl and Aldi. Slate is committed to expanding its presence within the German market and continues to seek grocery-anchored acquisition opportunities.
About Slate Asset Management L.P.
Slate Asset Management
L.P. is a leading real estate investment platform with over $6 billion
in assets under management. Slate is a value-oriented manager and a
significant sponsor of all of its private and publicly-traded investment
vehicles, which are tailored to the unique goals and objectives of its
investors. The firm's careful and selective investment approach creates
long-term value with an emphasis on capital preservation and outsized
returns. Slate is supported by exceptional people, flexible capital and
a proven ability to originate and execute on a wide range of compelling
investment opportunities. Visit slateam.com to
learn more.
