Greenman OPEN achieves a +0.94% like-for-like change in NAV for Q2 2024, its 11th consecutive positive uplift and consistent performance.
Investment Zones Update
Real Estate: A sale and leaseback acquisition of 10 EDEKA supermarkets as well as a framework agreement impacting leases across 7 of OPEN’s properties with grocer Kaufland has helped to increase OPEN’s gross asset value to €1.28bn (up 6% quarter-on-quarter).
Utilities: With 8 photovoltaic (PV) locations becoming operational in Q2, c.9% of OPEN’s portfolio is now covered in PV and generating renewable energy. To date, 1.2m kWh of renewable energy has been produced on OPEN’s real estate.
Networks: OPEN has over 90,000 data points related to the real estate market and its portfolio. A pilot project is currently underway, uses this data to help calculate the CO2 emissions of OPEN’s real estate portfolio, capturing live energy readings at the properties as well as energy being produced supporting tenants in running their internal systems more efficiently and supporting OPEN’s target of a net zero portfolio.
Resources: The Resources pathway was developed to make use of under or unused infrastructure in OPEN’s portfolio. Potager Farm, OPEN’s vertical farm, was built on a brown site in Berlin city, 600m away from one of OPEN’s largest retail centres. To date, it has sold over 5,000 pots of basil, parsley, and mint, via the online supermarket Knuspr.de with targets to sell products to OPEN’s retailers.
Looking Forward
The second half of the year will bring some significant milestones for Greenman OPEN, one of which will be its largest event to date. On the Tuesday the 17th of September OPEN will welcome members of the public to join the team in the RDS main hall to see the different projects and teams that work on and support the fund in reaching it’s targets. Visit Potager Farm’s booth and try some vertically grown herbs, see Greenman Energy’s hyperfast EV charger in action, or speak to OPEN’s property management team about the projects they are working on with OPEN’s tenants that will see the realisation of one of Germany’s first net zero retail centres.
As we continue to navigate 2024, the outlook for Greenman OPEN remains positive, driven by strategic investments and a clear focus on innovation and sustainability.
If you missed it live, you can watch the Q2 webinar here.
