Debt deal for a new sustainably constructed retail park in Höhr-Grenzhausen, Rhineland-Palatinate
Bank consortium deal led by Westerwald Bank eG, with participation of Nassauische Sparkasse (Naspa) and Sparkasse Westerwald-Sieg
Forward fixing loan with seven-year term
Modern project development with approx. 14,000 square metres of rental space opens in the first quarter of 2023
Greenman OPEN
Focus on German shopping centres anchored by food chains is at heart of Greenman’s Covid recovery
When Covid-19 descended on Europe in March 2020, retail landlords, forced to renegotiate leases and give payment freezes, were probably wondering why they entered the sector in the first place.
One Irish landlord had a different take. For Greenman, a real estate investment fund manager, the pand
Greenman OPEN (OPEN), one of the largest food retail-focused investment funds in Germany, announces the acquisition of a grocery anchored retail park in Rhineland-Palatinate. This is the third acquisition in OPEN’s €95.5 million portfolio development framework agreement with Schoofs Immobilien Frankfurt, the leading German retail real estate developer.
Located on a c.20.000 sqm plot with a tota
Greenman OPEN (OPEN), one of the largest food retail-focused investment funds in Germany, has signed a €30 million Revolving Credit Facility which was arranged by Santander. OPEN will use the facility to support investments in their German grocery-anchored retail portfolio.
Neil Hennessy, Head of Debt Capital Markets at Greenman, commented: “It is important to us to be able to work with Santand
Greenman OPEN (OPEN), one of the largest food retail-focused investment funds in Germany, has signed a seven-year €19.5 million debt deal with BayernLB to finance the acquisition of a retail park in Sonneberg, Germany.
The centre is anchored by MARKTKAUF, part of the EDEKA Group and one of Germany’s leading food retailers. Other tenants include TOOM Baumarkt, Möbel Boss, CF Fitness and the Dani
After some tough years for the sector, investor appetite is expected to return in 2022.
After years of doom and gloom around retail, optimism is finally returning to the sector.
Having proved its resilience during the pandemic, there is no surprise that the convenience subsector is highly sought after, but investor interest is now growing for a broader range of retail properties. Out of town
In June this year we attended the Richtfest of our retail centre in Wittenberge. 8 months later, the anchor tenant REWE opened its new store. The building is one of REWE’s green building designs, built in accordance with the Green Building criteria of the German Sustainable Building Council, and is one of the highest standards of sustainable supermarkets. As a result of the advanced and considered
Greenman OPEN agrees new debt deal with HypoVereinsbank to finance the acquisition of a sustainable retail park in Brandenburg
Greenman OPEN (OPEN), one of the largest food retail-focused investment funds in Germany, has signed a five-year €5.6 million debt deal with HypoVereinsbank (UniCredit Bank AG) for the acquisition of a new retail park in Wittenberge, Germany. The transaction which is a
The food dominated retail hybrid centre “Drehscheibe Homberg” in Homberg (Efze) was acquired by OPEN last year and was added to its operational portfolio in April 2021.The centre, which is located in the city centre of Homberg in the northern part of Hesse, brings city flair to the middle of the small town which is characterized by half-timbering and blends harmoniously into the existing developme
Greenman OPEN (OPEN), Germany’s largest food-retail focused investment fund, has signed a new seven year debt facility for €17 million to refinance the Berlin Hansa-Centre, marking the fund’s first financing deal with MünchenerHyp.
The Hansa-Centre is located in the Berlin district of Hohenschönhausen and is a large hybrid centre anchored by EDEKA, Germany’s largest food retailer. The centre wa
What will the supermarket of the future look like? In Germany, REWE Group has recently opened its first Green Farming market in Wiesbaden (southern Germany) and has set a new standard for a new generation of green supermarkets in Europe.
The approximately 1,500m² supermarket already catches the eye from the outside with its unusual architectural concept: pillars made of stacked wood form the su
Market analysts have been increasingly discussing the effects of rising inflationary pressures globally. As the worldwide vaccination campaign gathers pace, the reopening of economies and the quick rebound in activity that has followed has fuelled inflation in some regions. In May 2021, US inflation as measured by the consumer price index (“CPI”) increased by 5.0% year-on-year, hitting a remarkabl
The acquisition of a newly built centre is always exciting. Especially when you can see the lifecycle of the property, from foundations to being fully built. The completion of OPEN’s new retail centre in Wittenberge is progressing. This week, the Greenman team led by Head of Portfolio, Moritz Lind, together with the developer Hans Harms and his team from Harms Consulting, were pleased to celebrate
Last week, the centre in Tuttlingen opened its doors after only twelve months of construction. Rewe and Aldi took the first step and each opened a new store in the mixed-use hybrid centre with long-term leases of 15 years. A total of around 3,200 square metres of sales space is available, and a bakery is attached to the Rewe store. The building includes 150 parking spaces for bicycles and cars, as
The new food dominated retail hybrid Centre in Homberg (Efze) which was acquired by Greenman OPEN (OPEN) last year, is now fully operational with OPEN collecting its first month’s rent from 1st April 2021.
The developer and seller Schoofs Immobilien has successfully handed over the centre to the grocery focused investment fund. The centre is located in the city centre of Homberg, an attractive
Michael Irving, Investment Consultant at Greenman, recently spoke to Moneycube.ie about Greenman OPEN’s strategy, performance and targets for 2021 and why it is time to invest now.
Read the full blog post here on Moneycube.ie.
Greenman OPEN has recently completed a deal to acquire a new, turnkey retail center in Wittenberge, Brandenburg. The deal, which has been acquired directly from German developer Harms Consulting GmbH & Co. KG has a total volume of c. €10.6 million, bringing the fund closer to reaching its target of €1bn AUM. Greenman OPEN was represented by Frankfurt-based legal advisors White & Case.
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