Slate Asset Management L.P. (Slate), announced that its affiliate acquired three grocery-anchored real estate portfolios in Germany from three separate sellers.
According to the press release, the portfolios contain a total of 19 properties with a lettable area of approximately 27,600 square metres.
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.
Since December 2016, the Toronto-based firm has completed a total of 14 portfolio acquisitions in Germany. Today, Slate’s European platform is comprised of 192 properties in Germany totalling approximately 286,000 square metres of gross leasable area.
Goodwin Procter LLP acted as the legal advisor on this transaction.