How OPEN is Futureproofing Its Portfolio for the Next Decade

For over a decade, Greenman OPEN has been investing in one of Europe’s most dependable real estate sectors: grocery-anchored retail in Germany. The portfolio is anchored by some of Europe’s leading grocery retailers, whose stores serve thousands of customers weekly, providing a foundation of steady, reliable rental income to the Fund.

OPEN’s properties, valued at over €1.26 billion, generates c. €60m of rental income annually with over 60% of that income coming from Europe’s leading grocers, EDEKA, ALDI, LIDL, and Kaufland. These retailers sign long lease agreements of 15-20 years with no break clauses. If the fund did nothing more than collect its rent for the next 10 years, it would still generate around €596 million in rent to term. However, OPEN is doing much more than that.

The strength of this core portfolio gives OPEN the freedom to think long-term and actively future proof our assets. We are proactively preparing for the next ten years, ensuring the portfolio remains valuable, efficient, and resilient against changes in technology, customer habits, and environmental standards

We do this through four key areas of investment:

1. Real Estate: Strengthening our Foundations

This is about upgrading our properties and securing long-term leases with our tenants.

What we’re doing: We develop partnerships with our large grocery tenants. An example is a large-scale project with EDEKA, covering 34 properties in OPEN's portfolio. In return for OPEN’s investment in photovoltaic panels, EV charging, and smart technology, the tenant signed new long-term “Green” leases across all properties.

The result for investors: This project is expected to increase rents by 147% over the lease term and extend the weighted average remaining lease term (WARLT) by 103%. This extends our guaranteed income stream and directly increases the fundamental value of the property.

2. Utilities: Turning Energy into Income Streams

We’re turning unused space like rooftops and carparks into a source of clean energy and new revenue.

What we’re doing: Through Greenman Energy (GME), we install and operate solar panels and electric vehicle charging stations at OPEN’s properties.

The result for investors: We sell this clean energy directly to tenants and the public, creating a new, growing income streams. We've already seen a single day generate €3,100 in charging revenue. When scaled across our entire portfolio, this has the potential to reach €8 million in annual income, on top of our core rent.

3. Networks: Using Smart Data to Boost Efficiency

Knowledge is power. We're installing a "digital backbone" across our entire portfolio to track energy and property performance in real-time.

What we’re doing: Our smart data platform, edyfi, uses sensors and smart meters to give us a live view of every property.

The result for investors: This helps us identify waste, reduce operating costs, and make smarter, more profitable decisions. By the end of 2025, OPEN will be one of the first funds in its sector with this level of digital visibility across its portfolio, keeping us ahead of the curve.

4. Resources: Unlocking New Value from Our Space

We're finding innovative ways to use our properties that support the local community and generate additional returns.

What we're doing: Potager Farm, the fund’s urban farming initiative transforms unused spaces into vertical farms, growing fresh produce which is then sold via our grocery tenants.

The result for investors: This pioneers a new, circular model for food production that complements our grocery-focused assets and opens up future revenue opportunities.

Built for the Future

OPEN’s foundation is stability, but its focus is innovation. Each investment zone contributes to a portfolio that is more efficient, more resilient, and better aligned with how people live and shop. Clean energy powers operations, data drives performance, and every property plays a role in supporting the local communities that shop there while delivering strong financial outcomes.

By combining secure, grocery-anchored income with technology, sustainability, and long-term vision, OPEN is positioning itself at the forefront of its industry. For investors, that means confidence today and strength for the future.