FRANKFURT, GERMANY--(Marketwired - September 29, 2016) - Slate Asset Management L.P. ("Slate"), announced today that it has agreed to purchase 67 predominantly grocery-anchored real estate assets totalling 136,000 m2 of gross leasable area located throughout Germany (the "Portfolio").
"We have been monitoring acquisition opportunities in Europe, in particular Germany, for over two years," said Blair Welch, Partner and Co-Founder of Slate. "The current economic landscape provides a compelling opportunity to acquire high-quality assets that can be financed on good terms. This acquisition provides an attractive entry point into Europe for Slate and we continue to actively monitor opportunities to expand our European presence."
The Portfolio includes 67 assets primarily located along regional or arterial roads offering high visibility. The majority of the tenants are the largest global retailers in the world, including Lidl, Aldi, Edeka and REWE.
Avison Young provided real estate advisory to Slate. Goodwin Procter LLP acted as German legal counsel and KPMG LLP provided advice on the tax and legal structure. Savills acted on behalf of the vendor.
About Slate Asset Management L.P.
Slate Asset Management L.P. is a leading real estate investment platform with over $3.5 billion in assets under management. Slate is a value-oriented company and a significant sponsor of all 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 about Slate Asset Management L.P.
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Slate Asset Management L.P.
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