Global investment and asset management firm Slate Asset Management has acquired 45 properties housing grocery outlets in Germany, for over €420 million.
The acquisitions were conducted across four separate portfolio transactions, expected to close in the first quarter of 2025 and subject to standard closing conditions.
The properties in question are strategically located near major population centres throughout the country and secured by long-term leases with leading German grocery retailers, including REWE Group, Schwarz Group, Edeka Group, and Aldi.
Sven Vollenbruch, managing director leading Slate’s European Investments, pointed out that the transactions were achieved in a slow market.
Vollenbruch stated, “We are very pleased to further scale our exposure to this asset class with these portfolios of high-quality, stabilised grocery properties that are underpinned by Germany’s leading food and essential goods distributors.
Slate has firmly established itself as a leading owner and operator of essential real estate in Germany, and we believe the strong pipeline of opportunities we have cultivated in this sector will drive our continued growth in Germany and across broader Europe.”
Slate Asset Management
Slate Asset Management's European strategy centres on acquiring and managing income-generating essential real estate, particularly grocery stores and related logistics properties.
Since 2016, Slate has completed transactions on over 1,000 properties across seven countries and currently manages a portfolio exceeding 500 essential real estate assets across Europe, owned by Slate and its partners.
In January, Slate Asset Management announced Steven Dejonckheere as its new managing director, leading the global development team, overseeing project origination and execution.
Since joining Slate in 2019, Dejonckheere has been instrumental in expanding the firm's development portfolio. Prior to Slate, he held development positions at Triovest, Capital Developments, and Dream Unlimited.
