Driving Progress, Delivering Income

Designed to generate income through real estate investments, OPEN specialises in German retail properties let to some of Germany’s leading grocery retailers.

Diversifying its investment strategy beyond real estate, OPEN also invests in the utilities, resources, and networks sectors, enhancing its core real estate portfolio’s resilience and growth potential.

Recognized as an Article 9 fund under the SFDR and EU Taxonomy, OPEN stands as the largest Article 9 real estate fund currently available. Committed to a sustainable investment objective, OPEN aims to reduce its real estate’s Scope I and II greenhouse gas (GHG) emissions, targeting net zero by 2050.

Greenman OPEN operates under the supervision of the CSSF in Luxembourg as a regulated open-ended alternative investment fund.

Fund Strategy

Greenman OPEN’s core strategy is ensuring the maximum amount of a property’s rental income is converted into frequent and consistent investor returns over the long-term. To do this we focus on the following:

Food Retail

OPEN acquires retail centres anchored by Germany’s leading grocers. Over 60% of OPEN’s rent is generated by these grocers on long (15-20 year) leases, providing strong covenants for the fund and driving stable, long-term income for investors.

Returns-Driven Sustainable Investing

OPEN’s investment strategy is designed to align with its commitment to sustainable investing. By selecting investments that meet both financial and sustainability criteria, OPEN ensures that returns are frequent, regular, and contribute to sustainable growth. This dual focus underscores OPEN’s commitment to responsible investing, benefiting both investors and the broader community.

Future-Ready Real Estate

OPEN takes a collaborative approach to its properties, working with tenants and other partners to deliver smart buildings that help the fund meet its net zero goals, fitting for the future of retail.

Investment Zones

OPEN’s investment strategy focuses on four complementary investment zones. These zones are designed to enhance portfolio diversification, maximize returns, and contribute to sustainable development. By strategically targeting these areas, OPEN is setting new benchmarks for sustainability and creating future-ready real estate assets, aligning with our commitment to environmental responsibility and positioning OPEN at the forefront of innovation in the grocery retail real estate market.

Real Estate

OPEN invests in German real estate, leased to leading grocery retailers on long-term leases. The real estate portfolio is currently valued at €1.21 billion and generates €615.7 million in annual rental income, with 68% coming from highly creditworthy grocery tenants. One of OPEN’s core strategies is ensuring the maximum amount of a property’s rental income is converted into frequent and consistent investment returns over the long term. Following the ‘buy and hold’ strategy, the fund continuously expands its portfolio to include German supermarkets and grocery-anchored real estate.

View our real estate portfolio.

Utilities

OPEN invests in the generation and sale of renewable energy from the real estate it owns. Renewable energy is generated via photovoltaic (PV) panels installed on the roofs and in the car parks of OPEN’s properties. Currently, 18% of the electricity generated is sold to OPEN’s tenants, with plans to expand this initiative further within the year. Additionally, electric vehicle charging stations are operational at several real estate locations owned by OPEN, supporting thousands of charges to date. These activities generate additional income for OPEN and support the fund’s sustainability objectives for the future.

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Resources

OPEN invests in equipment that maximizes the use of unused resources in its real estate. This includes implementing modular vertical farms at brownfield sites to supply grocery tenants and installing carbon-capturing technology on HVAC systems. These farms efficiently produce fresh produce, while the advanced HVAC systems capture and store carbon dioxide, lowering carbon footprints and improving indoor air quality. These initiatives not only enhance resource efficiency but also contribute to environmental sustainability by reducing carbon emissions and promoting local food production.

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Networks

OPEN invests in the collection and analysis of data produced by its real estate portfolio with a strategic focus on generating income for the fund and potentially increasing long-term investor returns. A project currently being rolled out across OPEN’s portfolio will allow for better analysis of energy production and usage at the retail centres as well as measuring the carbon footprint of the properties.

View our ESG Page.