FRANKFURT, GERMANY, Oct. 25, 2017 (GLOBE NEWSWIRE) -- Slate Asset Management L.P. (“Slate”) announced today that it has agreed to purchase four portfolios consisting of 47 grocery-anchored real estate assets totalling 56,474 m2 of gross leasable area located throughout Germany (the “Portfolios”).
“The economic landscape continues to provide a compelling opportunity to acquire high-quality assets,” said Blair Welch, Partner and Co-Founder of Slate. “We are happy with these acquisitions as they continue to solidify Slate’s long term commitment to our European platform.”
The Portfolios include 47 assets in Germany primarily located along regional or arterial roads offering high visibility. The majority of the tenants are amongst the largest global retailers in the world, including Edeka, Lidl and REWE. Following the completion of these acquisitions, Slate Asset Management will own over 100 grocery-anchored assets in Germany.
On behalf of Slate, Goodwin Procter LLP acted as German legal counsel and KPMG LLP provided advice on the tax and legal structure.
About Slate Asset Management L.P.
Slate Asset Management L.P. is a leading real estate investment platform with over $4 billion in assets under management. Slate is a value-oriented manager and a significant sponsor of all of its private and publicly-traded investment vehicles, which are tailored to the unique goals and objectives of its investors. The firm's careful and selective investment approach creates long-term value with an emphasis on capital preservation and outsized returns. Slate is supported by exceptional people, flexible capital and a proven ability to originate and execute on a wide range of compelling investment opportunities. Visit slateam.com to learn more.
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Slate Asset Management L.P.
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