Greenman OPEN pays €55m for supermarkets portfolio

Greenman OPEN, one of the largest food-anchored retail real estate investment funds in Germany, has acquired a portfolio of six EDEKA supermarkets for €55 million ($60 million).

Five of the retail properties are located in the Bavarian towns of Bad Windsheim, Hof, Kemnath, Marktleuthen and Zell am Main, while the sixth is located in Dresden, eastern Germany. The properties, which total 20,660 square meters (1.3 million square feet), were acquired directly from EDEKA Northern Bavaria-Saxony-Thuringia under a brand new long-term sale-and-leaseback agreement.

GFORM, a Greenman subsidiary, will manage the properties going forward.

As part of Greenman’s commitment to ensuring the sustainability of its properties, Greenman Energy will install photovoltaic systems and electric-vehicle charging infrastructure at the assets, with a total estimated annual electricity capacity of 1 million kilowatt hours on the rooftops.

“We are delighted to be entering into o