Ireland’s Greenman Group has acquired Polish asset manager and developer Newbridge Poland, which has been rebranded as Greenman Poland.
Led by Barbara Wojdelko, formerly managing partner at Newbridge, the Warsaw-based company has €150 mln of assets under management, including retail parks and shopping centres totalling 87,000 m2.
The assets are anchored by leading European retailers including Carrefour, Rossmann, JYSK, Pepco and Spar.
Greenman Poland will be appointed as asset manager for Greenman Investment’s fund, Greenman European Supermarkets (GES), which acquires grocery-anchored real estate across Europe.
GES has already acquired three retail parks in Namyslów, Grodzisk Mazowiecki and Wloclawek, managed by Greenman Poland.
Johnnie Wilkinson, CEO of Greenman Group, commented: ‘This acquisition confirms our commitment to greater European expansion. As well as securing the assets, we’ve also managed to partner with a team of extremely experienced convenience store real estate experts who add an important level of geographic diversity to our platform and investors in the funds.’
Barbara Wojdelko, CEO of Greenman Poland, added: ‘This deal is the culmination of a strong period of growth at Newbridge. With the combination of the Greenman Group’s sector experience and our deep local knowledge we will deliver our shared growth strategy and are looking forward to expanding our assets under management in Poland and the broader Central Eastern European region with further acquisitions for the Greenman European Supermarket fund, as well as for other European funds and mandates.’
Greenman Poland will align its social and sustainability initiatives with Greenman Group’s comprehensive ESG and net zero carbon plan, working together with subsidiaries, including Greenman Energy, to install photovoltaic panels and electric vehicle charging points at suitable assets, and Potager Farm, to install vertical farming units.
The acquisition marks an important milestone Greenman Group’s growth as it sets its sights on further European expansion into grocery-anchored real estate investments.