x+bricks AG has purchased a portfolio of 14 German grocery stores with total rental space of approximately 15,600m². The parties agreed not to disclose the purchase price. All the assets in the portfolio have new leases with a term of at least 15 years. The anchor tenant is Netto Marken-Discount. Following the deal, the company now owns a total of 40 assets.
Sascha M. Wilhelm, founder and CEO of x+bricks AG, commented: “With this portfolio, we have increased the WALT of our overall portfolio to 9.3 years. Looking just at food retailers, which account for almost 80% of the tenants in our overall portfolio and are anchor tenants in all our assets, the WALT is as high as 11 years. All of the properties acquired have an excellent market standing and satisfy Netto’s current space requirements. The acquisition has significantly raised the quality of our overall portfolio again."