Greenman OPEN agreed a €95.5 million framework agreement with Schoofs Immobilien, a leading German developer. This was the first framework agreement of its type that Greenman OPEN has entered into and it highlights the trust and commitment of each party in working together to develop and build a long-term relationship.

The Greenman team, including Head of Portfolio, Moritz Lind, were delighted to join Oliver Stöhr and his team at Schoofs at their Richtfest in Tuttlingen last week, the first centre to be acquired as part of the framework agreement. A Richtfest is a traditional ceremony in Germany where speeches of thanks are given to those involved in building the project as the roof is being placed.

The event gave the team an opportunity to further strengthen relationships with the city, the Lord Mayor Michael Beck, the Schoofs team and future tenants including Aldi Süd and Rewe. This early introduction to the asset will allow Greenman OPEN to ensure that the Centre, when acquired, will fit seamlessly into the Portfolio and will be cemented as part of the local community, ensuring it is relevant and sustainable for the long-term.