The x+bricks Group has successfully signed a contract with TLG Immodilien AG for the acquisition of 120 grocery-anchored properties. The acquisition volume amounts to approx. €500m. The transaction increases its property portfolio to a total of 220 assets only two years after the establishment of the company. The value of the portfolio increases to around €1bn.

“Thanks to the outstanding performance of our team, we have compiled a property portfolio of the highest quality in just two years. We will build on this in the future and continue to grow at full speed”, said Sascha Wilhelm, CEO of x+bricks Group. “With our latest acquisition, the proportion of our rental income that we generate with tenants who supply Germany’s population with everyday consumer goods will increase to well over 80%. Our portfolio thus proves to be absolutely robust – even in times of crisis”.

“This is one of the largest portfolio transactions of grocery-anchored properties ever executed in Germany. Already today, we are one of the leading investors in grocery-anchored real estate”, said Tom Danzel, Chief Transaction Officer of x+bricks Group. The deal is subject to customary and statutory conditions for execution. The transaction is expected to close in the fourth quarter of 2020.