Slate snaps up 19 more grocery stores

12/03/2019

Slate Asset Management has acquired 19 properties with 32,300 sqm of retail space from a private investment company. All of the properties have an anchor tenant from the grocery segment – most are occupied by Netto, Penny, Edeka, or Lidl supermarkets – and are scattered across eight German states, primarily Saxony-Anhalt and North-Rhine Westphalia. This eleventh portfolio acquisition has increased Slate’s German portfolio to 177 properties, with a total gross lettable area of around 285,000 sqm. Slate was advised on legal and tax matters for the transaction by Goodwin Procter and KPMG. Savills and Eastdil Secured advised the seller.


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