Slate: Canadian firm buys supermarket portfolio for €32mn
The Canadian-based company Slate Asset Management has acquired another German retail portfolio through a subsidiary. The acquired 27 properties comprise 60,000 sqm of lettable space spread across nine German states, primarily in Baden-Württemberg and Bavaria. The agreed purchase price was €31.5mn. The main tenants are the supermarket chains Netto, Penny and Edeka. No information was disclosed about the seller. Goodwin Procter advised Slate on legal and tax matters. Slate entered the German market in 2016 with the acquisition of 67 properties from the Eurocastle portfolio, followed by nine further package deals. The Canadian company says it currently manages 160 supermarkets with over 260,000 sqm of lettable space in Germany. It is seeking further properties with supermarket anchor tenants.
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