Slate Asset Management’s €31.5 Million Acquisition of a Grocery Portfolio in Germany

Goodwin advised Slate Asset Management on the deal

Slate Asset Management executed the acquisition of a grocery real estate portfolio in Germany by its affiliate. The purchase price amounts to €31.5 million.

The portfolio comprises 27 properties in nine German federal states with a lettable area of over 60,000 square meters. The main tenants are the food retail chains Netto, Penny and Edeka.

Slate Asset Management L.P. is a leading real estate investment platform with over $6 billion in assets under management. Since its market entry in December 2016, Slate has completed a total of ten portfolio acquisitions in Germany as well as eleven sales. The company’s European portfolio today comprises 160 food markets in Germany with a total lettable area of over 260,000 square meters. Tenants are predominantly large food retailers such as Edeka, REWE, Lidl and Aldi.

Goodwin advised Slate Asset Management with a team including Marc Bohne (Picture), Matthias Ruedt von Collenberg, Stephan Kock, Heiko Penndorf, Andreas Mallin, Felix Krueger, Christopher Jeschor and Gleb Lidman.

Involved fees earner: Matthias Rüdt von Collenberg – Ashurst; Marc Bohne – Goodwin Procter; Christopher Jeschor – Goodwin Procter; Stephan Kock – Goodwin Procter; Felix Krueger – Goodwin Procter; Gleb Lidman – Goodwin Procter; Andreas Mallin – Goodwin Procter; Heiko Penndorf – Goodwin Procter;

Law Firms: Ashurst; Goodwin Procter;

Clients: Slate Asset Management LP;