industrial Market News: Portuguese Real Estate Intelligence

Altamira Asset Management Portugal, in Partnership with AXI IMMO, Sells Assets in Poland
21 January 2021 - Ana Custódio Altamira Asset Management Portugal announced in a statement that it had finalised the process of selling assets in Poland in conjunction with the Polish real estate consulting group AXI IMMO, to a major international investor focused on developing logistics assets. The amount of the sale has yet to be disclosed. The Portuguese credit and real estate asset manager, together with AXI IMMO, represented Tiner Polska, whereby the latter sold a warehouse and adjoining land for expansion. The assets consist of a 20,000 square meter warehouse and almost 16 hectares of land in Pietrzykowice, near Wrocław, Poland. Wrocław is one of the most important distribution and production centres serving Western Europe and Poland's fourth-largest logistics region. According to Eduardo Cerqueira, CEO of Altamira Asset Management Portugal, "this transaction signified an unprecedented challenge in terms of representing a client, in this case, Tiner Polska. This was possible due to the cooperation and efforts of all parties involved in this process over the past months. It was an important operation for the group, and we are pleased with the successful outcome and therefore, hopeful concerning the potential of future operations." Translation: Richard Turner
Incus Capital Sells Portfolio of Logistics Assets to M7 Real Estate
19 January 2021 - Ana Custódio Incus Capital has sold a Portuguese logistics portfolio on behalf of an unnamed investment fund to a fund managed by the M7 Real Estate group. The portfolio of seven assets has a total of 74,000 m2 of surface area. The transaction took place at the end of 2020 and sold for an undisclosed price. Tenants include Jerónimo Martins, Efacec and Unicer, among others. The most significant asset is located in Alcochete and has a total covered area of 26,211 m2. The portfolio has four more assets in Greater Lisbon, one in Porto and another in Funchal. Iberian Capital Markets RPE represented Incus Capital in the transaction. Tim Seconde, Head of Capital Markets - RPE Portugal, was proud to “announce the latest logistics agreement. RPE represented Incus Capital in the sale of a portfolio of 7 logistics assets mostly located in Greater Lisbon and Greater Porto.“ In November, M7 Real Estate also acquired a logistics portfolio in Portugal through two transactions totalling €41 million, on behalf of a new joint venture with a Portuguese investment fund. M7 portfolio in Portugal currents consists of more than €175 million in assets. Translation: Richard Turner
2020 Saw the Third Largest Volume of Real Estate Investment in Portugal
6 January 2021 JLL has estimated that 2020 will be the third-best year ever regarding commercial property investment in Portugal. Despite the pandemic, investors maintained a high volume of transactions, with commercial investment totalling approximately €2.6 billion, compared to €3.240 billion in 2019, a drop of around 20%. According to the consultancy, residential real estate investment reached €25.1 billion 2019, compared to estimates of €24.1 billion by 2020. According to Pedro Lancastre, JLL's managing director, "the year began with a surge in all of the market segments and, were it not for the COVID-19 pandemic, 2020 would have been the best year ever for this sector, breaking new records. This totally unexpected situation… has disrupted every facet of our lives, with a profound impact on the economy and also on the real estate market." Original Story:  Vida Imobiliária Translation: Richard Turner