Greenman OPEN Secures Sustainable Framework Agreement with Kaufland for Seven Retail Centres in Germany

Greenman OPEN has finalized a long-term strategic framework agreement with Kaufland, securing leases for seven key retail centers across Germany. This deal enhances OPEN’s portfolio by extending its Weighted Average Rent Lease Term (WARLT) to 10.4 years and increasing rent to term by €190 million.

A key component of the framework agreement is an innovative initiative to provide tenants with access to a variety of sustainability initiatives. These initiatives are managed by the Greenman Group’s subsidiaries and partners at the sites of the assets, which include:

• Renewable energy generation (PV systems and EV charging).
• Social educational projects to foster community engagement.
• The use of innovative technologies like Direct Air Capture to reduce carbon emissions.

Nick Wazynski-Reuber, Head of Expansion at Kaufland, commented:

“We are pleased to continue our successful cooperation with Greenman OPEN, a reliable partner and investor who shares our vision. This framework agreement enables us to expand our presence at strategically important locations.”

Henning Hedemann, Head of Strategic Relations at GFORM, the portfolio manager for OPEN, emphasized the value of Kaufland as a tenant:

“Kaufland, with its commitment to sustainability and innovation, is an ideal tenant for all seven centers, and we look forward to future-proofing the properties together.”

This strategic agreement between OPEN and Kaufland promises long-term benefits for both parties. Combining financial stability with a strong commitment to sustainability, this collaboration serves as a model for how retail real estate can drive innovation and have a positive impact.