Greenman OPEN invests €215m in mixed-use retail parks across Germany

Greenman OPEN has appointed Schoofs Immobilien to develop €215 million ($209 million) of supermarket anchored mixed-use retail parks in Germany.

The 11 assets are located near large cities with growing populations in Hesse, Rhineland-Palatinate, Baden-Wurttemberg, Bavaria and Saxony. Tenants include EDEKA, REWE, ALDI Sud and Tegut supermarkets. The properties are scheduled for completion by 2025.

The assets will also include around 200 residential apartments. This signals Greenman OPEN’s commitment to mixing grocery retail with housing to help meet the demand for housing in suburban areas seeing rapid population growth.

The properties are targeted to be of DGNB (German Sustainable Building Council) gold standard and if achieved they will make a significant move along Greenman OPEN’s path to net-zero by 2040.

“As the European economy continues to be buffeted by rising inflation and interest rates, grocery anchored retail remains a stable asset