Slate Asset Management Announces its Third Portfolio Acquisition of 2019, Acquiring 19 Grocery-Anchored Properties across Germany
Monday, March 11, 2019
The portfolio contains 19 properties with a lettable area of approximately 32,300 m². The properties are located within eight different states with a majority in Saxony-Anhalt and North Rhine-Westphalia. The main tenants are Netto, Penny and Edeka. Goodwin Procter LLP acted as the legal advisor and KPMG as tax advisor to Slate on this transaction. The seller was advised by Savills and Eastdil Secured.
Since December 2016, Slate has completed a total of 11 portfolio acquisitions in Germany. Today, Slate’s European portfolio is comprised of 177 grocery real estate properties in Germany totaling approximately 285,000 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.
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