Canadian real estate investment platform Slate Asset Management L.P. revealed that its affiliate bought a grocery real estate portfolio in Germany for 31.5 million euros ($36 million).
The portfolio, which contains 27 properties with a lettable area of approximately 60,000 square meters, is fully let to tenants including Netto, Penny and Edeka.
The properties are located within nine different states with a majority in Baden-Württemberg and Bavaria. Goodwin Procter LLP acted as the legal and tax advisor to Slate on this transaction.
Moreso, Slate is committed to extending its footholds within the German market as it continues to seek grocery-anchored acquisition opportunities.