Frankfurt, June 29, 2020 – The x+bricks Group (“x+bricks”) has signed a contract with TLG Immobilien AG for the acquisition of 120 grocery-anchored properties. The acquisition volume amounts to approx. EUR 500 million. With this transaction, x+bricks increases its property portfolio to a total of 220 assets only two years after the establishment of the company. The value of the portfolio increases to around EUR 1
“Thanks to the outstanding performance of our team, we have compiled a property portfolio of the highest quality in just two years. We will build on this in the future and continue to grow at full speed”, says Sascha Wilhelm, CEO of x+bricks Group. “With our latest acquisition, the proportion of our rental income that we generate with tenants who supply Germany’s population with everyday consumer goods will increase to well
over 80 percent. Our portfolio thus proves to be absolutely robust – even in times of crisis”.
The acquired portfolio with a total lettable space of around 290,000 sqm is spread across Germany with a focus on the metropolitan regions of Berlin/Potsdam (21%), Dresden (19%) and Leipzig (9%). The existing tenants include all major German grocery operators.
“This is one of the largest portfolio transactions of grocery-anchored properties ever executed in Germany. Already today, we are one of the leading investors in groceryanchored real estate”, says Tom Dänzel, Chief Transaction Officer of x+bricks Group.
The acquisition agreement is subject to customary and statutory conditions for execution. The transaction is expected to close in the fourth quarter of 2020.
During the transaction, x+bricks was advised and supported by White & Case, EVERCORE, Drees & Sommer, Görg, Leverton and DocEstate.
x+bricks is a Luxembourg-based investor specialised in grocery-anchored properties. The company, which has developed the software solution PATA for real estate analyses, focuses on the purchase of portfolios and individual properties in German cities. x+bricks was founded by Sascha Wilhelm in 2018. At the time of the publication, the group’s property portfolio comprises 100 assets with a total value of around EUR 400 million. Further information can be found at: https://xandbricks.com.
Anke Sostmann Executive Director
Feldhoff & Cie. GmbH
Eschersheimer Landstraße 55
D-60322 Frankfurt am Main
Telefon: +49 69 26 48 677 – 14
Mobil: +49 159 04 02 85 05