Merry Christmas from Greenman. Please note that we will close for the holidays on Wednesday 23rd of December and reopen on Wednesday 6th of January 2021

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  • About Us
    • History
    • Team
      • Finance Ireland
      • Finance Germany
      • Acquisitions
      • Portfolio
      • Debt Capital Markets
      • Marketing & Technology
      • Distribution
      • Fund Services
      • Compliance
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  • Investments

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Greenman OPEN’s strategy is to deliver income to investors through the conversion of rental income into frequent and regular distributions over the long term.

 

The Centres in GMO’s portfolio are let on long term leases to full service food retailers, food discounters and non or near food retailers. Rents paid by these tenants are used to consistently fund investor distribution targets.

 

GMO follows a “buy and hold” strategy and correspondingly acquires centres which have the capacity to meet investor distribution targets over the long term. GMO acquires Centres with complimentary investment and operational characteristics and combines them into one attractive portfolio.

Fund at a Glance | Portfolio Breakdown | Key Centres

GMO
Portfolio

No. of Centres: 72
Combined Market Value: €880m
% of Rent paid by Food Tenants: 66%
Main Anchor Tenant: EDEKA
Annual Rental Income: €47m
Combined WARLT: 8 years

GMO
Breakdown
of Portfolio
by Asset
Type

GMO
Breakdown
of Portfolio
by Tenant
Sector

 

Key Centres

To ensure that GMO can achieve its targeted investor returns, each centre considered for acquisition must adhere to a strict set of investment criteria.
The centres must be located in areas with sufficient demographics and socioeconomic profiles to support the retail concepts in the long term.
Each centre must also be anchored by one of Germany’s leading food retailers on a long lease with no break clause (typical anchor tenant lease terms are for a period of 15 years).

KAMEN

Year Acquired 2015
Market Value €27m
Total Area 7,730 sqm
No. of Tenants 11
Anchor Tenant REWE
Annual Net Rent €1.41m
WARLT 12.11 years
Website

HOMBERG

Year Acquired 2019
Market Value €35m
Total Area 11,935 sqm
No. of Tenants 17
Anchor Tenant REWE
Annual Net Rent -
WARLT 13.94 years
Website

Mahlsdorf

Year Acquired 2014
Market Value €15m
Total Area 5,054 sqm
No. of Tenants 3
Anchor Tenant EDEKA
Annual Net Rent €0.72m
WARLT 10.06 years
Website

BIESDORF

Year Acquired 2018
Market Value €97m
Total Area 32,288 sqm
No. of Tenants 61
Anchor Tenant KAUFLAND
Annual Net Rent €4.60m
WARLT 8.51 years
Website
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| [email protected]
Dublin: +353 (0) 1 647 1121, Crescent Hall, Mount Street Crescent, Dublin 2, D02 YF20
Berlin: +49 (0) 30 555 7929 10, Jägerstrasse 59-60, 10117 Berlin
Frankfurt: +49 (0) 69 9203 4666, Kleine Bockenheimer Straße 5, 60313 Frankfurt am Main
Premier Benchmark Property LTD., t/a Greenman Investments is authorised as an Alternative Investment Fund Manager by the Central Bank of Ireland under the European Union (Alternative Investment Fund Managers) Regulations 2013.
Authorisation number C123941.
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GMO 2021: Catalysts for Change

In 2021, for the second edition of our GMO event series, we invited panellists to discuss how COVID-19 has acted as a catalyst for changes already afoot in the retail real estate industry

More than 200 participants joined our moderator David O’Meara from Greenman and the panel of experts in an open discussion on the market insights, trends and challenges of the retail and real estate market.

Panellists

  • Bobby Healy, CEO & Founder, Manna
  • Sandra Ludwig, Managing Director, Grossmann & Berger
  • Angelus Bernreuther, Zentralbereiche, Kaufland
  • Matthew Thompson, Head of Retail Strategy, Colliers International UK
  • David Farquhar, CEO, Intelligent Growth Solutions
GMO 2020: A New Decade

As 2020 is the start of a new decade we wanted to look forward and consider what will/may influence retail and real estate funds, in particular Greenman OPEN (GMO), as we move towards 2030.

200 participants joined our panel of experts in an open and frank discussion on what technologies are impacting the retail and real estate markets.

Panellists
Christian Schimanski, Hamburg Commercial Bank, Germany
Dr Holger Wolf, White & Case LLP, Germany
Lynda Boylan, Manna.Aero, Ireland
Dr Angelus Bernreuther, Kaufland, Germany
Emily Bohill (Moderator), Bohill Partners, London

Insights from the Day

– The outlook for bricks and mortar German grocery stores looks stable with digitalisation focusing on addressing customer needs & overall retail experience.

– Drone deliveries could provide a low cost, high speed, environmentally friendly solution to last mile logistics, potentially working together with grocery stores in the future.

– Blockchain has the ability to revolutionise the way real estate sector operates from smart contracts to management and execution of property sales and leases.

– The continuation of a lower for longer interest rate environment will result in debt remaining cheaper for longer & yield gaps remaining significant. – Greenman OPEN targets to achieve €1bn AUM by the end of 2020.

GMO Performance Q3 Update

Greenman OPEN’s Q3 Performance webinar was held on Thursday 5 November.

Key takeaways:

– Greenman OPEN’s asset class market share has increased as investors search for the stability food retailers offer.

– Foreign investment has increased by 14% y-on-y underlining their confidence in Germany’s security & stability.

– Retail remains open under new Covid-19 restrictions in Germany. Coupled with additional VAT cuts to stimulate spending.

– CFO underlines target to achieve half a billion NAV by end of year and CEO discusses possibility of drone delivery trial with Manna in the new year.

Panellists
Johnnie Wilkinson
David O’Meara
Michael Barry
James McEvoy
Catherine Choo

Consistency in Chaos

Greenman OPEN (GMO) ran a webinar, Consistency in Chaos, as the first in a series of online discussions. Greenman’s management team discussed how the GMO fund can fit into client’s pension portfolio and provide them with consistent income for the long term. As well as the latest research, insights and considerations for both investors and landlords in the Food Retail real estate sector.

Additional topics included:

– Insights on the impacts of Covid-19 on retailers and investors;

– What are the long-term effects on the industry.

Panellists
Johnnie Wilkinson
David O’Meara
James McEvoy
Catherine Choo


    Greenman at Expo Real 2019

    John Wilkinson, CEO, Greenman, talks to The Real Estate Day at Expo Real 2019 about how Greenman OPEN, as a buy and hold fund, believe they can generate income for their investors by focusing on micro-locations across the country, as German food retailers are financially strong and online shopping in this sector has not yet taken off.

    COVID-19 – Latest Updates

    During this time of uncertainty, Greenman’s priority is the health and safety of our staff, clients, business and our communities.

    We remain fully operational and we do not anticipate any material disruption of our services to you.

    However we are implementing our contingency plans for both our staff and our operations to ensure that our services are consistently and securely provided to our clients, including where we are working remotely. With that in mind, we would like to share with you some measures that we have taken that will ensure that we maintain the levels of service and responsiveness you expect from Greenman, with the need to adapt to the circumstances in which we now find ourselves.

    Our offices will remain closed for the week of the 16th and all physical meetings are cancelled. This will be reviewed weekly and we will update you on any changes. All post, phone calls and emails will continue to be received and forwarded to the relevant people. If in-person visits are deemed to be essential, we will communicate with our visitors about their recent travel history and potential exposure to the coronavirus.

    We will continue to monitor the specific implications of the virus on our staff and our services, taking guidance from Ireland’s Health Service Executive, the Irish Government and the World Health Organisation.

    We hope you stay healthy during the coming weeks. Should you require any further information or would like to speak to a member of our team, please do not hesitate to contact us.

    The Democratisation of Real Estate

    Germany’s open-ended retail real estate funds saw record inflows in 2019 as the gap widened on the spreads between government bond yields and returns from the property market, as new data published by Berlin-based rating agency Scope shows.

    As a comparison, the average yield on 14 open-ended mutual real estate funds over the past 15 years has always shown a positive differential, or premium, over German government bonds, with this spread, or “excess return” only widening since 2013. Net inflows in 2019 were only exceeded in 2009 and 2016.

    As Frank Netscher, analyst at Scope, puts it: “The 3.8 percentage-point spread between yields on open-ended real estate funds and German government bonds has very rarely been so wide. “On the one hand, yields on government bonds have fallen steadily, with the yield on 10-year German bonds in negative territory for much of 2019. On the other hand, yields on open-ended real estate funds have also risen steadily, driven primarily by increases in the value of properties in fund managers’ portfolios.” Read more here in ReFire:

    https://www.refire-online.com/markets/record-inflows-into-german-open-ended-funds-as-yield-spreads-widen/?utm_source=dlvr.it&utm_medium=linkedin

    Greenman Berlin Office Opening

    It was wonderful to celebrate the opening of our new office with so many business partners, investors, colleagues and friends who have been part of and helped Greenman over the past few years. Having outgrown our last office, the new space in Berlin set over three floors, provides us with ample room to expand into as we continue to grow.

    A special thank you to his excellency, Ambassador Nicholas O’Brien for speaking at the reception and to our friends at Lough Ree Distillery for bringing their Slingshot Irish Gin to the event for us to try.

    Frankfurt Office

    • Email: [email protected]
    • Phone: +49 (0) 69 9203 4666
    • Kleine Bockenheimer Straße 5, 60313 Frankfurt am Main
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    Berlin Office

    • Email: [email protected]
    • Phone: +49 (0) 30 555 7929 10
    • Jägerstrasse 59-60, 10117 Berlin
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    DUBLIN OFFICE

    • Email: [email protected]
    • Phone: +353 (0)1 647 1121
    • Crescent Hall, Mount Street Crescent, Dublin 2, D02 YF20, Ireland
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