Greenman OPEN Becomes Europe’s Largest Real Estate ELTIF

Greenman Investments, a market-leading sector-specific real estate investment fund manager (“Greenman”), announced today that its flagship fund, Greenman OPEN (“OPEN”), has successfully converted into a European Long-Term Investment Fund (ELTIF). This conversion, following the introduction of the ELTIF 2.0 framework earlier this year, positions OPEN among the first real estate funds to embrace these new regulations, significantly enhancing its accessibility to retail investors across the EU.

By simplifying administration and enhancing investor protection the ELTIF 2.0 regulation lowers entry barriers, allowing a wider group of retail investors to invest in the fund. In response to these regulatory advancements, Greenman has developed the GM OPEN app, which will increase accessibility to the fund and provide existing investors with updates on their investments, including their value, as well as important fund and market information.

The fund will continue to specialise in grocery-anchored retail real estate in Germany, with a current portfolio of 90 assets valued at over €1.28 billion.

The opportunity to reach a wider investor base, provided by ELTIF 2.0, supports Greenman’s long-term ambitions for OPEN and by 2033, expects to have around 100,000 investors from 16 nations, with projected net assets exceeding €3.5 billion. As leaders in the German market and responding to the strong demand for supermarket investments in the region, Greenman plans to utilise its marketing passport to first target German retail investors in early 2025.

John Wilkinson, CEO & Executive Director of Greenman, commented on the transition:

"The shift to ELTIF status presents a fantastic opportunity to broaden Greenman OPEN’s reach across Europe. We are seeing considerable interest, particularly from German retail investors, where the appeal of grocery-anchored assets is particularly strong."

Tom Göricke (Partner) and Jérôme Mausen (Counsel), representing the law firm Elvinger Hoss Prussen, which played a pivotal role in the conversion process:

"We are delighted to have assisted Greenman Investments in respect of this successful transition to a Luxembourg Part II fund under the ELTIF regime. This provides the framework for opening the fund to retail investors which should enable continued growth under a robust regulatory framework, positioning it for long-term success and sustainability."

The ELTIF conversion and the launch of the Greenman OPEN app be celebrated at the “OPEN INVEST” event on September 17th at the RDS in Dublin. For more information about the event please visit Open Invest - Greenman OPEN.