real-estate-transactions Market News: Portuguese Real Estate Intelligence

#Brainsflash - Of note last weel was the annoucement that the Hard Rock Hotel Algarve will open in Portimão.
July, 24, 2023

Hipoges and JLL finalise land sale for Campolide – Nova Goa residential development

Hipoges and JLL have completed the sale of the land for this new real estate project, which will have approximately 7,500 m2 of above-ground construction and 59 apartments. This residential asset, covering about 7,500 m2 and culminating in the construction of 59 apartments, bears the signature of architect Regino Cruz, known for sustainable integration into the surroundings and maximizing the lifespan of high-quality projects for users and the community. The project also benefits from a premium location in the city of Lisbon.

Californian Investors Acquire Boutique Farmhouse Hotel

The transaction was conducted by Athena Advisers, representing the buyer, and CBRE, acting on behalf of the owners, in the sale of the boutique hotel Pensão Agrícola, located in the Tavira region. The small rural hotel will now become the holiday residence of a Californian family while continuing to operate as tourist accommodation. The investment value was not disclosed.

EUR 20 million investment in Eagle 3 development

The Eagle 3 building, located in Oeiras Golf, is a development co-exclusively marketed by Porta da Frente Christie’s and JLL. With an initial investment of 20 million euros, the Eagle 3 building aligns with the trend of moving residences from central Lisbon to Oeiras. It is inspired by greenery and designed for a sophisticated lifestyle that combines golf at the doorstep with the beach just ten minutes away.

Cushman & Wakefield and Savills responsible for sale of two Cifial plants

Cushman & Wakefield and Savills, under a co-exclusive arrangement, are responsible for the commercialization of two factories owned by Cifial, located in Santa Maria da Feira and Viseu. At the Bodo site, the property is situated on a plot of 58,409 square meters with a built-up area of 24,403 square meters. As for the Santa Comba Dão site, it is located on a plot of 69,190 square meters with a built-up area of 17,373 square meters.

Hard Rock Hotel Algarve to open in Portimão

Hard Rock International and Mercan Properties have just announced plans to launch the new Hard Rock Hotel Algarve in Portugal. The new development will be located near the stunning Praia do Vau beach in Portimão, further expanding the global reach of this iconic brand. The investment amount has not been disclosed. The hotel unit, expected to begin construction in early 2024 and open in the summer of 2026, will feature around 275 luxury rooms and suites, as well as 150 apartments with personalized brand services.

FIIA CA Património Crescente acquires La Vie Funchal shopping center

CBRE advised CentroNovoFunchal SA in the sale of La Vie Funchal Shopping Center to the Open Real Estate Investment Fund CA Património Crescente. The selling entity, CentroNovoFunchal S.A., is owned by approximately 50% by the HLP fund, managed by ECS Capital, and about 40% by Grupo Oitante, along with other minority shareholders. In this transaction, the seller was advised by Uria Menéndez – Proença de Carvalho and NewCycle, while the buyer was supported by RPE and Engexpor.

#Brainsflash - Of note last week was the announcement that Borgwarner is investing 90 million euros in new industrial unit in Viana do Castelo
July, 03, 2023  

The CVM Group has announced the construction of the Pacífico Building in Vila Nova de Gaia, with a total investment of 13.5 million euros.

The residential project will consist of 62 units spread across 11 floors and 3 basement levels. It is located on Avenida dos Descobrimentos and will have a total construction area of 11,273 square meters.

The building will feature a variety of apartment sizes, including T1 (10), T2 (27), T3 (21), and T4 (4), and the construction is scheduled to be completed by October 2025.

Spanish company Albatross Capital and Portuguese company Quantico SA have formed a joint venture called Quest Capital, combining their operations, projects, expertise, teams, and capabilities.

Quest Capital is a pan-European real estate investment and asset management company, starting with over one billion euros in Assets under Management, 600,000 square meters of real estate assets, and a portfolio of over 6,000 residential and commercial units.

The joint venture aims to leverage the combined resources and experience of both companies to enhance their presence in the real estate market and maximize investment opportunities across Europe.

BNP Paribas REIM acquires Pier III office building.

The building, currently serving as Accenture’s new headquarters in Portugal, spans 4,500 square meters and includes 101 parking spaces.

Designed by architect Carrilho da Graça, the Periptero building is a state-of-the-art structure and stands as one of the most iconic buildings along Lisbon’s riverside.

The investment amount for the project has not been disclosed.

Alverca Commercial Gallery receives investment of 32 million euros

NHOOD Portugal plans to invest 32 million euros in the transformation of Alverca Shopping Gallery, a space it manages and represents as co-owner along with Auchan.

Ceetrus, the new owner of the property, will contribute to the investment of approximately 32 million euros. The investment aims to revitalize and improve the commercial space, bringing about significant changes to Alverca Shopping Gallery.

Signal Capital and Sonae Sierra develop mixed use project República 5.

The mixed-use project, República 5, in Lisbon, is being developed by Signal Capital and Sonae Sierra, featuring 12 floors dedicated to offices and a unique residential area with 20 apartments.

Located in one of Lisbon’s most prestigious areas near Saldanha, República 5 allocates the majority of its space (11,600 m2) to office use spread across 12 floors.

The project aims to provide a combination of residential and office spaces in a prime location in Lisbon, catering to the demand for both living and working in the city.

Vila Galé Collection Tomar is opening.

The Vila Galé Collection Tomar, representing a €14 million investment, will open on July 1st. It is the result of the recovery and redevelopment of two iconic buildings, the former Convent of Santa Iria and the former girls’ college.

This new hotel property features 100 rooms and combines the historical charm of the convent and college with modern amenities and facilities.

The Vila Galé Collection Tomar offers guests a unique and luxurious experience, blending the rich heritage of the buildings with contemporary comfort and accommodation options.

Montebelo Aguieira Lake Resort & Spa presents a new hotel unit.

The 5-star logistics development boasts a prime location, just twenty minutes away from the A1 highway and the city of Coimbra.

This year, the resort introduces a new hotel facility with 58 accommodation units, adding to its offerings of 155 T1 to T3 apartments and V4 Villas with private pools.

Guests can enjoy a wide range of accommodation options, along with the convenience of the resort’s proximity to major transportation routes and the attractions of Coimbra.

Borgwarner invests 90 million euros in new industrial unit in Viana do Castelo.

American company BorgWarner has inaugurated a new industrial unit in the Lanheses Business Park in Viana do Castelo, dedicated to the production of electric motors and components for electric and hybrid vehicles, including heavy-duty and 100% electric vehicles.

The investment, exceeding 90 million euros, will continue for a year until June 2024. It reflects a commitment to energy transition and will lead to the creation of 350 new jobs.

The new facility reinforces BorgWarner’s focus on the growing market for electric mobility, contributing to the development of sustainable transportation solutions and the local economy.

#Brainsflash - Of note last week was the announcement that a 40-million-euro Rehabilitation Plan will start in 11 Lisbon neighborhoods
June, 14, 2023

The 40-million-euro Rehabilitation Plan for 11 neighbourhoods in Lisbon is about to get underway.

The company Gebalis is starting an intervention and rehabilitation plan in 11 municipal neighborhoods in Lisbon, with a total investment of 40 million euros until 2026.

The rehabilitation work will begin in the Alfinetes neighborhood, located in the Marvila parish. The project will cover seven buildings and 68 units, with planned interventions on roofs and facades.

This initiative aims to improve the condition of the buildings and living spaces, contributing to the overall revitalization and development of the selected neighborhoods in Lisbon.

Cushman & Wakefield assumes management of 7 assets from MEAG portfolio

The consulting firm has been awarded the management of 48,000 square meters of office assets, consisting of 7 properties. These assets include three buildings in Arquiparque, two in Quinta da Fonte, and two on Avenida da Liberdade.

MEAG, the asset manager of the Munich Re Group, will oversee these assets. MEAG operates branches in Europe, Asia, and North America, providing its expertise to institutional investors as well as private clients outside the group. Currently, it manages assets valued at approximately 307 million euros, with 55 million euros belonging to external investors.

This collaboration will enable efficient management and utilization of the office assets, leveraging MEAG’s experience and expanding its portfolio for both institutional and private clients.

Industrial land in Carregado marketed by CBRE

CBRE is in charge of selling an industrial land in Carregado, consisting of two assets, with a total area of 20,000 square meters. The land is located in the municipality of Alenquer.

The land comprises two assets, totaling 20,065 square meters, and has a potential construction area of approximately 10,000 square meters. One of the lots already has an existing building measuring 2,600 square meters, while the other lot has an approved PIP (Projecto de Intervenção Prévia) that allows for the construction of 6,760 square meters.

This sale presents an opportunity for potential buyers to acquire a sizeable industrial land with existing buildings and approved plans for further construction, providing flexibility and potential for future development in the Carregado area.