Greenman buys Polish retail asset manager Newbridge

Greenman buys Polish retail asset manager Newbridge
Image: Courtesy of Greenman Group

Greenman Group, the parent company of Dublin-based Greenman Investments, has acquired the retail asset manager and developer Newbridge Poland.

Greenman said the acquisition marks an important milestone in the Group’s growth as it sets its sights on further European expansion into grocery-anchored real estate investments. 

The company will be renamed Greenman Poland and led by Barbara Wojdełko, previously managing partner at Newbridge, and her 15-strong team based in Warsaw who have a wealth of experience managing assets across Poland and the broader CEE region, with a particular expertise in the acquisition, management, and development of retail real estate.

Greenman Poland has €150 million assets under management, comprising of retail parks and shopping centres totalling 87,000 sqm. 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.

Three retail parks, managed by Greenman Poland and located in Namysłów, Grodzisk Mazowiecki and Włocławek, have already been acquired by the fund GES. 

The team will align its social and sustainability initiatives with Greenman Group’s comprehensive ESG and net zero carbon plan, working together with the Group’s specialist subsidiaries – including Greenman Energy, to install photovoltaic panels and electric vehicle charging points at suitable assets, and Potager Farm, to install vertical farming units. 

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 Wojdełko, CEO of Greenman Poland, said: “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.”