Generating Income

Greenman’s sole investment focus is the creation of consistent annual income for our investors.

 

Greenman has developed an investment model which is designed to generate investor income from the purchase, operation and sale of German retail centres. Our investment policies, corporate structures and fee arrangements are all designed to maximise the conversion of tenant rent obligations into predictable and consistent long term investor distributions.

Income
Breakdown

Sector
Speciality

Greenman only acquires one asset type – food dominated retail parks, hybrid centres, neighbourhood centres and retail warehouses.

 

Typically the centres are located in suburban areas, are constructed to specifications determined by the tenants who occupy them, are frequently visited daily by local consumers to purchase essential items and transact at yields materially higher than shopping centres or high street properties.

 

As we only acquire one asset type all our operational procedures and management capacity have been developed specifically for this asset type.

Operational Benefits of the Food Retail Asset:

  • Highly creditworthy tenants
  • Long WARLTs
  • High occupancy rates
  • Ease of management and low cost of operation (relative to shopping centres)
  • Planning restrictions limiting nearby competition

Portfolio by
Type

Tenants

Greenman focus solely on centres that are anchored by leading “Full-Assortment” food retailers and that all, or a large percentage of its rent, is contributed by these food retailers. Over 66% of the total portfolio’s rent comes from leading German full food retailers. Key tenants include EDEKA, REWE and Kaufland, Germany’s top 3 full food retailers.

Portfolio by
Tenant
Sector

Tenants

Greenman focus solely on centres that are anchored by leading “Full-Assortment” food retailers and that all, or a large percentage of its rent, is contributed by these food retailers. Over 66% of the total portfolio’s rent comes from leading German full food retailers. Key tenants include EDEKA, REWE and Kaufland, Germany’s top 3 full food retailers.

Operational
Control

Greenman provide asset and operational functions, including daily management activities, throughout the AIFs corporate structures. The control and oversight over all operational processes gives the team a 360-degree view of centre and tenant performance and builds strong, long lasting relationships with our key tenants.

 

The in-house vertical integration of services also ensures processes are managed quickly and efficiently. It allows the team to respond to tenant issues, early market and retail trend indicators and investor queries without delay.

 

This hands-on approach allows Greenman to accumulate a significant body of proprietary data, market knowledge and trend awareness that gives our funds an invaluable competitive advantage.

WARLT
Maintenance

Greenman focus on generating income for the long term. As such, the team focus their asset management priorities towards encouraging tenants to use their extension options at early stages in their lease cycles, ensuring we retain rental income for the long term. By maintaining a centre’s WARLT, we also protect a centre’s long-term value, marketability and exit possibilities.

Sustainable
Debt

Greenman only secure debt which is sustainable, with consideration to the centre, its tenants WARLT and ownership strategy for the long term. Conservative debt planning is a core constituent of our investment strategies and typically our funds have debt policies which restrict borrowing to LTVs of c. 60% and below. Low LTVs also provide operational flexibility, low finance costs, access to a large number of lenders and market visibility.