Greenman OPEN has acquired three standalone Edeka markets with a total area of approximately 18,500sq m.
The properties are located in Weyhe in Lower Saxony, Taucha in Saxony and Freyburg in Saxony-Anhalt. The cash & carry market in Weyhe, was acquired as part of an off-market, 20-year, sale and leaseback deal directly with EDEKA MiHa. The other two properties, acquired as forward turnkey deals, are let to EDEKA on 15-year leases. These two properties are part of the developer framework agreement that OPEN signed with developer Schroder Holding, in 2021. Both assets will be handed over following completion in September and November this year.
“These properties are an excellent addition to the ever-growing Greenman OPEN portfolio as they will provide long-term essential income to OPEN while also supporting our net zero approach for the fund. The DGNB-rated assets ensure that the properties are sustainable, energy and resource efficient, and future-proofed, providing long-term value not only for us as owner, but also for our tenants and the surrounding community,” said James McEvoy, Head of Acquisitions at Greenman. “This is our fifth successful sale-and-leaseback deal with one of Germany’s largest food retailers, it reaffirms our long-standing partnership with EDEKA MiHa, and we look forward to expanding on it in the future.”
