Slate Asset Management Continues Its European Expansion with Approximately €90.0 Million Essential Real Estate Portfolio Acquisition in Austria and Slovakia
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.
About Business Wire
101 California Street, 20th Floor
CA 94111 San Francisco
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
IL-NEXTSENSE3.12.2021 16:02:13 CET | Press release
NextSense Emerges to Unlock Brain Health with Key Partners UCB, Heraeus, UC San Diego, and Emory University
HEALTHCARE+-EXPO-TAIWAN3.12.2021 15:17:08 CET | Press release
Healthcare+ Expo Taiwan to Build an Ecosystem of Digital Transformation in Healthcare
EUROFINS-SCIENTIFIC3.12.2021 14:07:10 CET | Press release
Eurofins Technologies Launches a New Multiplex RT-PCR Assay for Combined SARS-CoV-2 Screening and Rapid Detection of the Omicron (B.1.1.529) Variant of Concern
CCG3.12.2021 13:55:08 CET | Press release
How Can Chinese Cities Increase Their Global Communications Impact? Joint Report and Index from CCG and Xinhuanet Sizes up Strategies and Offers Valuable Suggestions
VALUENCE-HOLDINGS3.12.2021 10:57:10 CET | Press release
Valuence Japan Nanboya, BRAND CONCIER Recognized as No.1 in Five Categories in Japan, Including for Overall Purchase Volume, for Luxury Brand Goods and Other Items!
NY-MOODY’S3.12.2021 10:02:10 CET | Press release
Moody’s Acquires PassFort and Agrees to Acquire kompany, Expanding KYC and Compliance Capabilities
DEXLEVO3.12.2021 08:43:06 CET | Press release
DEXLEVO's Liquid Polymer Filler Raises KRW 26 Billion in Pre-IPO Funding
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