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LONDON & FRANKFURT, Germany – Slate Asset Management (“Slate”), a global alternative investment platform focused on real estate, today announced that it has acquired a portfolio of food real estate assets in Germany for more than 100.0 millions of euros. The acquisition further expands Slate’s platform in Europe and increases the company’s exposure to critical, high-quality real estate assets in the region.
Slate acquired the portfolio in an off-market transaction from KRE // GROUP at an attractive price compared to the replacement cost. The portfolio comprises 30 properties strategically distributed in and around the major metropolitan areas of Germany with high potential for future revenue growth, including Berlin, Hanover, Cologne and Hamburg.
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The main tenants of the portfolio are among the largest distributors of essential goods in the world: Edeka Group, Rewe Group and Lidl. With 93% of portfolio income generated by critical Class A tenants, the assets are well positioned to provide resilient, long-term cash flow.
“Our ability to research and acquire this portfolio of pure groceries in an off-market transaction is a testament to the strong experience and network of relationships we have established in Germany,” said Brady Welch, Founding Partner of Slate Asset Management. “We see an opportunity to step in and implement our hands-on asset management approach to elevate these properties to new standards of efficiency, modernity and performance and create value for our investors, tenants and communities. surrounding areas. ”
Since 2016, Slate has managed and invested in diversified portfolios of essential food and real estate assets across Europe, which play a vital role in the distribution of essential items and services to end consumers. This portfolio is Slate’s third acquisition in Germany in the second half of 2021. The company acquired two additional portfolios with nine collective grocery stores and core real estate assets in the third quarter of this year.
The transaction is expected to be finalized in early 2022.
About Slate Asset Management
Slate Asset Management is a global alternative investment platform focused on real estate. We focus on the fundamentals with the goal of creating long-term value for our investors and partners. Slate’s platform covers a range of investment strategies, including opportunistic, value-added, core plus and debt investments. We are backed by exceptional people and flexible capital, which allows us to create and execute a wide range of exciting investment opportunities. Visit slateam.com to learn more.
Slate asset management