FAQs
Understanding the fund
Greenman NEXT is a regulated open-ended European Long-Term Investment Fund (ELTIF). It invests in a diversified portfolio of grocery-anchored real estate assets located in Europe. The Compartment’s objective is to provide long-term returns through a combination of income and capital growth.
Greenman NEXT is managed by Premier Benchmark Property Limited, trading as Greenman Investments. Greenman Investments is regulated as an Alternative Investment Fund Manager (AIFM) by the Central Bank of Ireland and is responsible for portfolio and risk management.
Greenman Investments has over 20 years of experience in managing real asset funds based in Europe.
Yes, Greenman NEXT is approved under the European Long Term Investment Fund (ELTIF) regulations and managed by Greenman Investments who are regulated by the Central Bank of Ireland (CBI)
The Prospectus and KIID are available on the Greenman NEXT mobile application.
Portfolio & Investment Strategy
Greenman NEXT invests in grocery real estate located in Europe, as well as complimentary assets such as PV and EV-chargers for the store carparks. This strategy focuses on properties where grocery retailers are the primary tenants.
The properties are grocery retail assets typically located in suburban neighbourhoods and are standalone supermarkets. The properties on average have a let area of c. 6,000m2 and an average value of c. €14m.The fund aims to build a diversified portfolio across Europe, which may include standing investments as well as properties under refurbishment or development.
NEXTs properties are let to some of Europe’s largest grocery retailers such as Kaufland and Carrefour.
Typically, Greenman NEXT’s leases are for a minimum term of 15 years.
Tenant default is a general risk of real estate investment that can adversely affect property values and returns. The fund’s strategy focuses on essential retail and major grocers to mitigate this risk, though it cannot be eliminated.
In Greenman Investment’s 20-year history, none of their grocery tenants have defaulted on their rental obligations and typically Greenman NEXT collects over 99% of its rent annually.
Yes, Greenman NEXT can borrow subject to a maximum loan-to-value ratio of 85% at the time of borrowing. NEXT also has a limited ability to borrow up to 10% of its NAV for short-term liquidity purposes.
Typically, Greenman NEXT purchases properties from European grocers via Sale & Lease Back transactions and brand-new supermarkets on forward “risk-free” purchase deals.
Typically, Greenman NEXT does not take any development or construction risk and mostly buys properties where its tenants are already installed and paying rent.
The 4 Zones Strategy & Sustainability
The 4 Investment Zone strategy is the framework for achieving the fund’s investment objectives:
- Real Assets: Investment in grocery property for stable income.
- Utilities: Investment in renewable energy generation (e.g., solar PV) and EV charging infrastructure located on the fund’s properties.
- Resources: Investment in initiatives that utilise property space to support the food and energy supply chain.
- Networks: Investment in data and technology to improve asset efficiency and value.
As an Article 9 fund under the EU Sustainable Finance Disclosure Regulation (SFDR), Greenman NEXT has a sustainable investment objective. Its objective is to contribute to climate change mitigation and adaptation, which includes activities such as improving energy efficiency and increasing renewable energy use within its portfolio. This classification carries specific transparency and reporting obligations.
Financials, Performance & Fees
See the full Schedule of Fund Charges.
The target investment return is 7-9% per annum, based on a minimum investment horizon of approximately 5.5 years.
Since its inception, the fund has achieved an average annual return of 7.01%. An investment of €10,000 at launch would have been valued at €12,453 as of 30 June 2025. Past performance is not a reliable indicator of future results.
The Net Asset Value (NAV) is calculated quarterly by the Fund Administrator under the supervision of the AIFM. Real estate asset values are determined by independent appraisers. The NAV per Share for each class is derived from this calculation.
You can choose to either of:
Income – where you receive a set min. distribution of 1% of your investment value each quarter.
Growth – all your returns are accumulated and grow throughout the period of your investment.
How to Invest
You have three ways to invest, depending on your preference.
Please note: All direct investments must be completed through our mobile app.
1. Invest Directly via the App (Self-Service)
Download the app, set up your profile (minutes), review all fund documents, and invest when ready. Minimum €1,500.
2. Invest with Support from Our Team (Guided)
Request a callback. Our team will answer your questions and guide you through the process. When ready, you complete your investment securely in the app.
3. Invest Through Your Financial Advisor (Advisor-Led)
Discuss NEXT with your advisor. If suitable for you, they can assist. You then complete your investment application directly in the app.
You can invest as much as you like from a min. of €1,500 but you should not invest more than c.15% of your total value.
Exiting the Investment
You can request a redemption of your shares, via the Mobile App, every quarter.
Please note that redemptions are subject to conditions:
Lock-up Period: Shares cannot be redeemed for an initial period of 3 years for Class C and 5 years for Class D from their date of issuance.
You can request a redemption quarterly. You will receive your funds in 6 months (from the end of the uarter you submitted your investment) directly to your bank account.
Want to know more about NEXT?
NEXT is managed by Greenman Investments, a Fund Manager, regulated by the Central Bank of Ireland. Greenman Investments has over twenty-years track record actively managing real estate investment funds and backed by a Group with specialities in property & tenant relationship management, utilities, and data.
