FRANKFURT, Germany--(BUSINESS WIRE)--Slate Asset Management L.P. (“Slate”), announced today that its affiliate acquired three grocery-anchored real estate portfolios (the “Portfolios”) in Germany from three separate sellers. The Portfolios contain 19 properties with a lettable area of approximately 27,600 m². The properties are located within nine different states across Germany, with a majority in Saxony and Bavaria. The main tenants are Lidl, Netto, Penny and Edeka. Goodwin Procter LLP acted as the legal advisor to Slate on this transaction.
Since December 2016, Slate has completed a total of 14 portfolio acquisitions in Germany. Today, Slate’s European platform is comprised of 192 properties in Germany totaling approximately 286,000 m2 of gross leasable area. The majority of the tenants are among the largest global grocers in the world, including Lidl, Aldi, Edeka and REWE. 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 focused alternative 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 demonstrated ability to originate and execute on a wide range of compelling investment opportunities. Visit slateam.com to learn more.