SLATE
22.11.2021 07:02:14 CET | Business Wire | Press release
Slate Asset Management ("Slate”), a global alternative investment platform focused on real estate, announced today the acquisition of a portfolio of essential real estate assets located across Austria and Slovakia for approximately €90 million. The acquisition expands Slate’s European platform into two new, centrally located and fast-growing markets and further increases the firm’s exposure to high-quality essential real estate assets.
The portfolio comprises approximately 66,000 square meters across nine single-tenanted assets, all of which are let on long-term leases to OBI, one of Europe’s largest DIY operators and a market leader in Austria and Germany. Six of the OBI stores are geographically dispersed across Austria, including OBI’s Austrian headquarters in Vienna, which is centrally located within walking distance of public transit and several large residential developments. The three Slovakian assets are long-leased, high-quality properties that are well located in larger Slovakian cities.
The acquisition further builds on Slate’s successful track record within the essential real estate sector throughout Europe. Essential real estate has proven to be a defensive asset class with resilient income streams and strong investment fundamentals. The hardware and DIY sector in particular has benefitted from strong performance over recent years and proven its resiliency throughout the pandemic, with stores widely remaining in operation.
“We are pleased to be acquiring another stabilized, income-producing essential real estate portfolio that establishes a foothold for us in two rapidly growing European markets,” said Brady Welch, Founding Partner at Slate Asset Management. “OBI is a staple of the European DIY landscape with consistently strong performance. This transaction not only increases our exposure to a market category that has proven to be necessity-based and highly defensive, but also further expands our network of relationships with a diversified group of leading essential goods providers in Europe.”
Schoenherr Attorneys at Law, Drees&Sommer, Gleeds and KPMG advised Slate on this transaction, which is expected to close in January 2022.
About Slate Asset Management
Slate Asset Management is a global alternative investment platform focused on real estate. We focus on fundamentals with the objective of creating long-term value for our investors and partners. Slate’s platform spans a range of investment strategies, including opportunistic, value add, core plus and debt investments. We are supported by exceptional people and flexible capital, which enable us to originate and execute on a wide range of compelling investment opportunities. Visit slateam.com to learn more.
View source version on businesswire.com: https://www.businesswire.com/news/home/20211121005006/en/
Link:
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Navan Drives Global Travel and Expense Efficiencies at Viessmann Generations Group23.6.2026 10:01:00 CEST | Press release
Global purpose-driven family company improves transparency, cost control and employee experience with Navan Navan (NASDAQ: NAVN), the global AI-powered business travel and expense platform, today announced its collaboration with Viessmann Generations Group, a global family company with 109 years of entrepreneurial heritage, guided by the purpose of co-creating living spheres for generations to come. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260623797613/en/ Global purpose-driven family company improves transparency, cost control and employee experience with Navan Since implementing Navan in 2023, Viessmann Generations Group has increased transparency, reduced manual effort and improved the employee experience across travel and expense. Before partnering with Navan, Viessmann Generations Group managed travel and expense processes across several tools and workflows. Employees faced long support wait times, while the finan
ISOPLUS Selects Navan to Consolidate Global Travel and Expense Operations23.6.2026 10:00:00 CEST | Press release
Leading manufacturer of pipe systems deploys AI-powered platform to establish policy control, eliminate manual accounting, and drive measurable cost savings Navan (NASDAQ: NAVN), the global AI-powered business travel and expense platform, today announced it has been selected by ISOPLUS, a leading manufacturer of pre-insulated pipe systems for district heating and cooling, to consolidate its global travel and expense program. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260623669736/en/ Leading manufacturer of pipe systems deploys AI-powered platform to establish policy control, eliminate manual accounting, and drive measurable cost savings Following the success of Navan’s partnership with the wider Viessmann Generations Group, ISOPLUS has chosen to consolidate its travel and expense operations with Navan – moving away from significant unmanaged travel and expense. “Navan automates that tedious work and gives us the real-ti
Infobip and Digitas Middle East Sign Expansion of Their Strategic Partnership to Power AI-Driven Customer Engagement for Global Brands23.6.2026 10:00:00 CEST | Press release
The global AI-first cloud communications platform Infobip, today announced a partnership with Digitas, the Marketing Transformation arm of the Publicis Groupe, the world's foremost communications agency holding group. Under the partnership, Infobip and Digitas ME will build a joint service practice around the Infobip AgentOS platform, bringing together Infobip's enterprise communications infrastructure and Publicis Groupe’s deep capabilities in data, AI, customer experience strategy, and media transformation. The partnership is supported by a global framework agreement with the roll out starting across MENA and APAC initially. The collaboration addresses a growing need: bringing together marketing transformation, AI-driven personalisation, and real-time business messaging into a single, coherent customer experience. Where Publicis Groupe shapes how global brands engage their customers, across media, data, loyalty, and commerce, Infobip provides the communication infrastructure to make
Hytera Launches W60 Wearable MCS Radio to Extend Mission-Critical Communication Beyond PMR Coverage23.6.2026 09:58:00 CEST | Press release
Hytera, a leading global provider of critical communications technologies and solutions, launched the W60 Wearable MCS Radio at Critical Communications World (CCW) 2026. Designed to complement existing PMR systems, the lightweight wearable device helps organizations maintain mission-critical communications beyond the coverage limits of traditional radio networks, supporting safer and more connected operations across public safety, transportation, energy, and industrial sectors. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260622677096/en/ W60 Wearable MCS Radio for connected operations beyond PMR coverage Extending Communication Beyond PMR Coverage Maintaining reliable communications in basements, tunnels, underground facilities, and other hard-to-cover environments remains a challenge for many organizations. Expanding PMR infrastructure in these locations often requires significant investment and deployment time. The W60
Samsung Unveils Industry's Fastest UFS 5.0 Solution for Next-Gen On-Device AI Applications23.6.2026 09:10:00 CEST | Press release
Samsung’s UFS 5.0 solution achieves industry's highest data transfer speed of 10.8GB/s, enabling faster storage and processing in mobile memoryEnhanced power efficiency and smaller package to provide optimal mobile AI experiences Samsung Electronics Co., Ltd., the world leader in advanced memory technology today announced that, for the first time in the industry, it has developed the industry's fastest Universal Flash Storage (UFS) 5.0 solution, which will help enable seamless and highly efficient AI services on future mobile devices. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260623632789/en/ Samsung Unveils Industry's Fastest UFS 5.0 Solution for Next-Gen On-Device AI Applications The milestone sets a new benchmark for the next-generation mobile memory market as the enhanced performance is expected to allow mobile device users with significantly reduced latency and faster response times when running large language mode
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom