Greenman OPEN and Schoofs Immobilien to develop €215m of supermarket-anchored mixed-use assets in Germany

Greenman OPEN, one of Germany’s largest food retail–focused investment funds, has appointed Schoofs Immobilien, a German retail real estate developer, to develop €215 million ($212 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-Württemberg, Bavaria and Saxony. The properties will be anchored by EDEKA, REWE, ALDI Süd and Tegut supermarkets and are scheduled for completion by 2025. Once completed, they will have a WARLT of 15 years.

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 t