19 May Q1 2022 Performance | OPEN records growth in NAV of 1.46% like for like change
Following its strong performance in 2021 (with annual change in NAV for the year of c.7.1%), Greenman OPEN continues to perform consistently, recording growth in NAV of 1.46% like for like change in Q1 2022.
This increase in investment in OPEN’s asset class is largely due to its security and the ability of its tenants to generate rent increases during inflationary periods.
“Whilst it is difficult to predict what will happen over the coming year, from speaking to our advisors and reviewing our market data, we believe that pricing should remain relatively consistent over the next 3-4 months which will be very positive for Greenman OPEN.” – James McEvoy, Head of Acquisitions at Greenman
OPEN’s recent performance webinar highlights:
- CPI-linked leases have protected the portfolio during a high inflation period. OPEN forecasts a 3.4% rise in portfolio rental income, equating to €1.7m, assuming a conservative 5% CPI increase.
- OPEN forecasts a potential c.€33m increase in portfolio value based on rental growth.
- OPEN has originated a strong acquisition pipeline of deals including their 5th sale & leaseback deal with Germany’s leading grocer, EDEKA; €400m off-market deals; and new framework agreements with leading German developers.
An important aspect of the fund is also its ESG framework. OPEN commits to only acquiring carbon neutral properties for the portfolio by 2035.
Greenman Energy and Potager Farm, OPEN’s ESG-linked projects, ensure that the portfolio continues to evolve and stay up to date with consumer and tenant needs, adding value for its investors.
“You can’t monitor until you can measure. As a result, the first step in our carbon neutral journey is to understand what the carbon output of OPEN’s portfolio is currently and from that, develop a metric by which to measure our reduction in carbon emissions in the lead up to our target of being carbon neutral by 2040.” – Catherine Choo, CIO at Greenman
Read more about our latest project, Greenman Energy.