All Market News: Portuguese Real Estate Intelligence

Real Estate Investment Funds with €10.6 Billion Under Management at Year End
25 January 2021 According to data published by Portugal’s Securities Market Commission (CMVM), real estate investment funds (FII), special real estate investment funds (FEII) and the real estate management funds (FUNGEPI) had a total of 10.5836 billion euros under management in December 2020, an increase of €159.0 million (1.52%) compared to November. Interfundos (12.5%), Square AM (11.3%) and Caixa Gestão de Ativos (9.2%) had the highest shares of the assets. December also saw the creation of three new special real estate investment companies: “Substância Numérica - SICAFI” and “Coincident Discovery, SICAFI”, managed by Lynx, and “Almost Future, SICAFI” managed by Silvip. According to the CMVM, “In the period under analysis, countries in European Union were the target of the totality of the investment made in real estate assets, with 47.1% of the portfolio of open FIIs and FEIIs applied in real estate in the services sector.” Original Story:  Jornal Económico - Maria Teixeira Alves Translation: Richard Turner
Mercure Fátima is Accor Hotels' Latest Bet on Portugal
21 January 2021 - Ana Custódio Just a week ago, Accor Hotels increased its portfolio in Portugal with the inauguration of a new hotel, the Mercure Fátima, maintaining its commitment to investing in the country. The 72-room hotel is located five minutes' walk from the Sanctuary of Fatima, next to the Basilica of the Holy Trinity. The Mercure Fatima opened its doors on the 14th and has 72 rooms of various sizes. Accor described the new facilities as "the perfect choice for travellers looking for local and authentic experiences, providing a refuge linked to the symbolism and spiritual atmosphere that the city conveys." Accor Hotels currently has 38 hotels in Portugal under the brands Ibis, Ibis Budget, Ibis Styles, Mercure, Novotel and Sofitel. By the end of the year, the French group will also open another new brand: Mama Shelter, in Lisbon. The hotel in Fatina is the eighth Mercure hotel in the country, following the inauguration of the Mercure Porto Centro Aliados last November. Translation: Richard Turner
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