Year: 2022

#Brainsflash – Of particular note in the last week was the debut of the Hoti Hotéis Group in the residential market with an investment of 110 million euros.

December, 26, 2022

With the year almost over, last week was the result of many new developments in the residential segment. Although in a period of great festivities, the real estate market did not stand still, and once again showed its dynamism and robustness.

At the beginning of the week, the Hoti Hotéis Group announced its debut in the residential market with an investment of 110 million euros. For the three projects which will feature the Group’s entry into the Residence market, the locations chosen were Porto, Aveiro and São João da Madeira. The enterprises have, as a whole, a total area of around 55 thousand square metres.

The very next day, it became public that Sesimbra will receive the new Vale das Amendoeiras development, with 71 homes, scheduled for completion by the end of 2024. Vision Supra Partners is the promoter of the real estate project that represents a total investment of 30 million euros.

In the middle of the week it was announced that Hipoges has sold a building in the centre of Lisbon for 6.8 million euros. The Rodrigues Sampaio building, located next to Avenida da Liberdade, will be the target of an urban rehabilitation project. The transacted asset comprises six storeys above ground for a total of around two thousand square metres.

In the meantime, MVPAR Investments has started the process for the construction of Villa dos Coches. The development, located in Belém, Lisbon, has an investment of 11 million euros, which includes the renewal of the property and the attached contemporary construction. The development is part of the Museu dos Coches complex, one of the most visited tourist attractions in Portugal.

With the week coming to an end, it became public that Habitat Invest and Patron Capital have invested more than 23 million euros in a luxury condominium in Cascais. The transacted land already has an approved project for the development of a condominium consisting of 13 houses, next to Quinta da Marinha. Extending over a total area of around 9,000 m², the land adds up to a gross construction area of approximately 4,500 m².

#Brainsflash – Of particular note in the past week was the sale of Continente at Centro Comercial Colombo to a German fund.

December, 19, 2022

After the first weeks of December having presented themselves a little calmer, the past week was sturdier and more dynamic in terms of investments and transactions in the real estate market. Of particular note, in the recent days, was the retail segment which was recognized by Sonae’s operations, but which opened new spaces for other brands as well.

At the beginning of the week, Sonae announced the sale of the Continente at Centro Comercial Colombo to a German fund, the Union Investment. The asset, whose transaction value has not been revealed, is the first investment by the German fund in the Portuguese retail sector, has a total area of 23,445 m2, and will be managed by Sonae Sierra.

Meanwhile, in the middle of the week, the retailer Aldi announced the opening of two new stores. The municipalities of Marco de Canaveses and Oliveira do Hospital thus get their first Aldi supermarkets. In line with its expansion strategy, the company now has 122 stores in Portugal. Both spaces have a total sales area of around 1,040 m2.

Soon after, the Pestana Group announced the launching of the Pestana Residences CR7 development. The new residential project, located in Praia Formosa, in Funchal, has an initial investment of 50 million euros. In a first phase, the project includes around 88 T2 and T3 apartments.

With the opening of still another store, the retail segment did not come to a halt last week, with Mercadona inaugurating a supermarket in Oeiras. The company reaches the district of Lisbon, and ends 2022 with a network of 39 supermarkets in Portugal. The new store is located in Taguspark and is the last of the 10 that the company had planned to open this year. It has a sales area of 1,900 m2.

With the week coming to an end, Norfin announced the beginning of the construction of Monview in Miraflores. The investment was made by the Arrow Global fund in partnership with three Portuguese private investors from the NXT Evolution Asset Management. The new private condominium will have 168 units which represent an investment of around 80 million euros.

Soon after, Varino Real Estate announced that, over the next 7 years, it plans to invest around 240 million euros in its next development in Funchal, consisting of 7 buildings.

Finally, it became public that the luxury hotel chain Viceroy is going to sell units of the Ombria Resort, located in Loulé, to Highgate. The transaction should be completed in 2023, even before the units are inaugurated. The value of the transaction has not been disclosed.

 

 

#Brainsflash – Of particular note in the past week was the acquisition of a real estate portfolio of logistics warehouses by Bedrock Capital and Europi Property Group

December, 12, 2022

The first week of December started timidly and remained so, largely due to the holidays. However, the retail sector stood out with the opening of new commercial spaces by Aldi and Lidl, which continue their expansion strategies.

Earlier in the week, and in line with the process of modernizing and expanding its network of stores in Portugal, Lidl has opened its first store on a University Campus, at an international level. The new commercial space is located on the University Campus of the Faculty of Science and Technology of Universidade Nova de Lisboa, with an area of 1,400 m2. The value of the investment has not been disclosed.

The real estate consultant, Savills, was responsible for placing ANACOM – Entidade Nacional de Comunicações, in the Ramalho Ortigão Building 51 – RO51. The National Communications Entity will occupy half of the building, which corresponds to 4 storeys, with only the last 4 storeys remaining.

Soon after, GuestReady, a local accommodation management company in Portugal, has announced the expansion of its property portfolio through the acquisition of AYS Madeira Property Management, a local company with 14 years of experience in property management and rental. With this acquisition, GuestReady is taking its activity to the Madeira archipelago.

In the middle of the week, Aldi Portugal announced the opening of two new stores, reinforcing its presence in the centre of Lisbon, with a new commercial space in the Tivoli Forum (Avenida da Liberdade), and expanding its offer to the locality of Beja, which receives its third store. This last one has a characteristic that makes it stand out from the other stores – its facade is painted white, so as to create greater harmony with the architecture of the Alentejo houses and all their surroundings.

Also made public was the data revealed through the recent “MarketbeatSnapshots”, by Cushman&Wakefield, which analyzes and summarizes the commercial real estate activity in Portugal, during the third quarter of 2022. This analysis highlights the total volume of 1,700 million euros traded between January and September 2022.

With the week coming to an end, Lidl continues to focus on the strategy of modernizing its network of stores in the national territory, inaugurating a new commercial space in Porto, in the well-known roundabout AEP, and reopening one of its stores in Valongo. These stores have sales spaces between 1,430 m2 and 1,450 m2, respectively.

Lastly, Ecologis, a joint venture between Bedrock Capital Partners and EuropiPropertyGroup (EPG), acquired a real estate portfolio from Santander Asset Management (SAM), consisting mainly of logistics warehouses, which encompasses a gross construction area of approximately 24,000 m2, the properties being held by three real estate funds, managed by SAM.

The State of the Portuguese Real Estate Market in November

With the end of the year almost at hand, the month of November proved to be a dynamic period in terms of new investments and transactions. Operations of great importance were witnessed in the real estate market, a little across all segments. To highlight is the housing segment, which has been distinguishing itself more and more, trying to fill for the lack of offer in this segment, in Portugal. The office, retail and hotel segments were also very relevant to the growing speed of news.

 

Housing

At the beginning of the month, it was announced that Barreiro will receive a new development, the JaBa – Jardim Barreiro. The new residential project consists of three buildings, incorporated into a single development, creating a complex of modern flats, which rise in the historic centre of the city.

In the middle of the month, the real estate developer, IMOLOTE – Investimentos Imobiliários, announced the investment of 5 million euros in the reconstruction of a vacant building. Dom Hugo will be built in the historic centre of Porto and will have 16 flats aimed at the segment for youth. Reconstruction will begin in 2023 and completion is expected by the end of 2024.

Fercopor announced a new luxury development in Porto, named PURE. The new real estate project is the result of an investment of 18 million euros. It is located in Boavista and is scheduled for completion in 2025. The development comprises three buildings that are linked by landscaped alleys.

With November coming to an end, ADDSOLID announced the investment of 30 million euros in a new project in Loures, which brings together housing, commerce and a vast network of services, with emphasis on a senior residence and a long-term care unit.

Another investment was also made public, this time by GFH, which went ahead with the new residential project “The Yard”, located in Jardins da Arrábida, in Porto, close to Arrábida Shopping and the future Porto-Gaia underground. The construction process began this year in May, and the first residents are expected to arrive in the second half of 2024.

At the end of the month, Avenue launched the “Sandwoods” residential project, with an investment of 70 million euros. Sandwoods, comprising 39 houses (Pool Villas) of typologies T3 and T4, and 6 dwellings (Main House) comprising typologies T1 to T4, is located close to Lisbon and to the Sintra-Cascais Natural Park as well as to Quinta da Marinha.

Offices

The month was starting when the AFA Group and Socicorreia announced the acquisition of two buildings in the centre of Lisbon. The AFA Group bought an asset on Av. 5 de Outubro, with around 8,000m2 of gross area, spread over 11 storeys, while the Socicorreia group acquired a building on Av. Viscount of Valmor. The business represents an investment of around 27 million euros. Both properties are currently used for office, retail and parking spaces; however they will be converted to residential use.

At the end of the week, it became public that the US fund Cerberus put up for sale the Fidelidade headquarters building, located in Largo do Calhariz, in Lisbon. At the end of 2019, Fidelidade sold the Arya portfolio to the US fund, which included the insurance company’s headquarters building.Now, after three years, Cerberus is putting up the property for sale. The building houses the headquarters of Fidelidade and also has Caixa Geral de Depósitos as a lessee.

In the middle of the month, Incus Capital announced the investment of 7 million in the D.M2 building in Porto. The Spanish company will commence with the rehabilitation project of one of the most emblematic buildings in Porto, known in the city as “Edifício Tranquilidade”. The property, whose works should be completed by the end of the year, was so nicknamed for displaying the colours and symbology of its main tenant.

Logistics

Mistolin announced its new logistics centre, with an investment of 5 million euros. The new centre will emerge in the industrial zone of Vagos, in Aveiro, adjacent to the company’s building. With an operating date scheduled for 2023 or 2024, the project aims to create an interconnection among all the commercial systems of the group, therefore serving the entire MSTN group.

 Retail

At the beginning of the month, Prime Portugal acquired the CascaisVilla Shopping Centre, an asset that was sold by Bain Capital Credit. The commercial project, which is located at the entrance of Cascais, is currently in operation, however, the Municipal Master Plan (PDM) of the municipality already foresees its demolition and the birth of a new mixed-use project, with predominance for residential and commercial use.

Meanwhile, ALDI Portugal announced the opening of a new store in Baixa da Banheira, in the municipality of Moita. The food retailer opened its 114th store in the country, this being the second store in the municipality of Moita and the 16th in the district of Setúbal. The new space has a total area of ​​1,548m2, totalling a sales area of ​​1,000m2.

Casa Peixoto announced an investment of 10 million euros in a store in Lisbon. The company, which operates in ​​trade and distribution of building materials and DIY, home & garden, has started the construction of its new space located in Parque das Nações, near Gare do Oriente.

Soon after, Lidl announced the reopening of four stores in an investment of 17 million euros. Located in Macedo de Cavaleiros, Ermesinde, Almada and Cascais, they have sales areas ranging from 1,200m2 to 1,440m2.

In the middle of the month, Ten Brinke’s first ALDI supermarket in Portugal opened in Viana do Castelo. The new commercial space has 1,800m2 of surface, of which 1,200m2 are for sale to the public. Ten Brinke is developing a project in Viana do Castelo that covers a total of 14,000m2 of commercial, residential and service areas.

At the end of the month, the announcement was made that the SIGI of Sonae Sierra had acquired a set of assets worth 26.2 million euros. Olimpo Real Estate Portugal (ORES), the first Real Estate Investment and Management Society (SIGI) to be created in the country, announced the purchase of the assets. The acquired portfolio includes three hypermarkets, located in Guarda, Cantanhede and Ponte de Lima, and has a total gross area of ​​14,563m2, subject to long-term lease agreements with Continente.

Hotels

In early November, the new five-star Hyatt Regency Lisboa hotel was inaugurated. The arrival in the Portuguese capital city of the worldwide Hyatt chain took place through United Investments Portugale Fibeira, under the management of UIP Hospitality Management Company. As a result of an investment of 70 million euros, the Hyat Regency Lisboa is located in Belém.

Meanwhile, the Elegant Group announced the sale of the Hotel Martinhal Cascais to Onyria, belonging to the Pinto Coelho family. The previous owners of the Hotel Martinhal Cascais, the Pinto Coelho family, have been strengthening their close relationship with Roman and Chitra Stern, founders of the Elegant Group, in order to buy and integrate the hotel unit back into their remarkable business portfolio in Quinta of the Navy. The investment value of the operation has not been disclosed.

In the middle of the month, Hyatt also announced the launch of a new resort in Madeira. The Dreams Madeira Resort Spa & Marina project is scheduled to open in 2024 after the renovation works and will signal the entry into the new global portfolio of luxury resort brands – the Inclusive Collection. The resort, situated in a privileged location on the island of Porto Santo, includes 366 luxury rooms, as well as standard rooms, luxury villas, a beach and a private marina.

Meanwhile, Mercan Properties announced an investment of 108 million euros in the construction of two new hotels in the marina of Lagos. Mercan Properties signed an agreement with Hilton for the design of the new units, Lagos Marina Hotel, Curio Collection by Hilton and Hilton Garden Inn Lagos. The opening is scheduled for the summer of 2024 and both hotels comprehend a gross construction area of ​​23,000m2.

#Brainsflash – Last week’s highlight was ADDSOLID’s investment of 30 million euros, in a new project in Loures.

November, 28, 2022

With the month of November almost coming to an end, the past week started timidly, but quickly witnessed several investments and reports in some of the real estate market segments, from north to south of the country.

At the beginning of the week, the SPintos Group has announced the opening of a student residence in Porto, located next to the Cooperativa de Ensino Superior Politécnico e Universitário, in an investment of 3 million euros. “MEU STUDIO” comprises 71 studios, of single, double or triple occupancy, the opening being scheduled for January 2023.

Meanwhile, it became public that ADDSOLID has invested 30 million euros in a new project in Loures, bringing together housing, commerce and a vast network of services, with emphasis on a senior residence and a long-term care unit. Located in Quinta da Freixeira, the project comprises 11,000m2 of housing, as well as 7,600m2 for commerce, services, a technology centre and restaurants, 8,100m2 for the senior residence and 2,500m2 for the long-term care unit.

On the subject of rehabilitation, shortly thereafter, the Porto City Council announced an investment worth 7.7 million euros from the Recovery and Resilience Plan, to rehabilitate the Ilhas da Lomba located in the parish of Bonfim. The rehabilitation project should be completed by June 2026. It includes a building with signs of degradation, which has 47 dwellings of typologies T1 to T3.

Meanwhile, the Government has also announced an increase of 72 million euros in student accommodation by means of eight contracts. With this amount, it will be possible to sign up all the approved projects, in a set of over 18 thousand intervened beds.

With the week coming to an end, another investment was made public, this time by GFH, which went ahead with the new residential project “The Yard”, located in Jardins da Arrábida, in Porto, close to the Arrábida Shopping and the future underground line Porto-Gaia. The development has type T2 to T4 flats, and common areas available to all residents. The construction process began this year in May and the first residents are expected to arrive in the second half of 2024.

Finally, in the logistics segment, Mistolin announced its new logistics centre, in an investment of 5 million euros. This will emerge in the industrial zone of Vagos, adjacent to the existing company’s building. With an operating date scheduled for 2023 or 2024, the project aims to create an interconnection among all the commercial systems of the group, therefore serving the entire MSTN group.

#Brainsflash – Of note last week, was the announcement of an investment of 108 million euros by Mercan Properties in the construction of two new hotels in the marina of Lagos.

November, 21, 2022

As far as the real estate market is concerned, the past week started very calmly, but in a few days and in a sudden change, some segments revealed their strength, displaying significant investments all over the country.

The real estate developer IMOLOTE – Investimentos Imobiliários is going to invest 5 million euros in the reconstruction of a vacant building. Dom Hugo is the new development that will be born in the historic centre of Porto and will have 16 flats aimed at the segment for young people. Reconstruction will begin in 2023 and completion is expected by the end of 2024.

Meanwhile, still in the middle of the week, Hyatt has announced the launch of a new resort in Madeira. The Dreams Madeira Resort Spa & Marina project is scheduled to open in 2024 after renovation works, and will signal the entry into the new global portfolio of luxury resort brands – the Inclusive Collection. The resort, situated in a privileged location on the island of Porto Santo, comprises 366 luxury rooms, standard rooms, luxury villas, a beach and a private marina.

Incus Capital has also announced the investment of 7 million in the D.M2 building in Porto. The Spanish company will commence with the rehabilitation project of one of the most emblematic buildings in Porto, known as “Edifício Tranquilidade” in the city. The property, whose works should be completed by the end of the year, was so nicknamed for displaying the colours and symbology of its main tenant.

Soon after, Fercopor has launched a new luxury development in Porto, named PURE. This is the new real estate project located in Boavista, result of an investment of 18 million euros, scheduled for completion in 2025. The development comprises three three storeys buildings with flats with typologies from T2 to T5 Duplex, linked by landscaped alleys.

With the week coming to an end, Mercan Properties has also announced an investment of 108 million euros in the construction of two new hotels in the marina of Lagos. Mercan Properties signed an agreement with Hilton for the design of new units, Lagos Marina Hotel, Curio Collection by Hilton and the Hilton Garden Inn Lagos. The opening is scheduled for the summer of 2024 and both hotels comprehend a gross construction area of 23,000 m2.

In the meantime, the first ALDI supermarket promoted by Ten Brinke, was inaugurated in Viana do Castelo. The new commercial space has a surface of 1,800 m2, 1,200 m2 of which are for sales to the public. The new supermarket, which is located on a plot of 5,500 m2 in a commercial park, is located in one of the best areas of the city. Ten Brinke is developing a project in Viana do Castelo which covers a total of 14,000 m2 of commercial, residential and service areas.

 

 

#Brainsflash – Last week, JOM has invested 18 million euros in a residential project in an old factory in Guimarães

November, 14, 2022

The second week of November makes us predict another month of major operations and announcements in the real estate market. Over the past week a large movement of transactions and news in the various segments of this sector was witnessed again, throughout the whole country.

At the very beginning of the week, doValue Portugal has announced its participation in the sale, to the Sikla Group, of a land in Palmela. The real estate asset and credit management company has traded an asset with an approved logistical project of more than 30.000 square meters of gross construction area. The value of the operation of the land, located in Palmela in the district of Setúbal, has been one million seven hundred thousand euros. The new owner of the land is the Sikla group, an international business conglomerate operating in the industrial area, present in Portugal and in more than 35 countries.

Further north, on the site of the historic Castanheiro factory in Guimarães, a development with 58 houses will be built by JOM, until April 2024. The real estate project of the group from Guimarães, which owns the furniture and decoration stores JOM, has an investment value of 18 million euros.

In the middle of the week, ALDI Portugal has announced the opening of a new store in Baixa da Banheira, in the municipality of Moita. The food retailer opened its 114th store in the country, being this the second store in the municipality of Moita and the 16th in the district of Setúbal. The new space has a total area of ​​1.548 m2 and a total sales area of ​​1,000 m2.

With the week ending, Casa Peixoto announced an investment of 10 million euros in a store in Lisbon. The company, which operates in ​​trade and distribution of building materials and DIY, home & garden, has started the construction of its new space located in Parque das Nações, near Gare do Oriente. The investment value which does not include the land for the new store, includes a building with approximately 10.000m2, two parking storeys and approximately 5.000m2 of commercial area.

Finally, Lidl has announced the reopening of four stores in an investment of 17 million euros. Located in Macedo de Cavaleiros, Ermesinde, Almada and Cascais, these have sales areas ranging from 1.200m2 to 1.440m2.

#Brainsflash – Last week, the Elegant Group announced the sale of the Hotel Martinhal Cascais to Onyria.

November, 7, 2022

With the year almost over, the beginning of this month of November was surprisingly positive and marking in the number of ads and transactions. There were several and significant operations that the real estate market witnessed during the last week. A little in all segments and from north to south of the country, there was an energetic market with news appearing daily.

On the last day of October, Predibisa presented HABITAT, the new residential development in Porto. The project, located in the Pinheiro Manso area, has an investment of 5 million euros. HABITAT comprises 7 T2 flats and 4 T3 flats, with a total area of ​​2.032m2, 502m2 of which are below ground.

At the beginning of the first week of November, it became public that Jerónimo Martins is occupying 2 storeys of offices, totalling 1.828m2, in the Visconde de Alvalade Building, in Lisbon. Worx acted on behalf of the owner of the property, Fundo CA Património Crescente, with the building being managed by Square Asset Management.

Meanwhile, Barreiro receives a new development – JaBa – Jardim Barreiro. The new residential project on the south bank consists of three buildings, incorporated into a single development, creating a complex of modern flats, which rise next to Jardim dos Franceses, in the historic centre of the city. The sale of the JaBa units has already started, located 20 minutes from Lisbon, Serra da Arrábida and the beaches of Caparica.

With the week coming to an end, the announcement emerged that Prime Portugal has acquired the CascaisVilla Shopping Centre, an asset that was sold by Bain Capital Credit. The commercial project, which is located at the entrance to Cascais, is currently in operation, however, the Municipal Master Plan (PDM) of the municipality already provides for its demolition and the birth of a new mixed-use project, with predominance of residential and commercial.

In the office segment, Grupo AFA and Socicorreia acquired two buildings in the centre of Lisbon. The AFA Group purchased an asset on Av. 5 de Outubro, with approximately 8.000m2 of gross area, spread over 11 storeys, while the Socicorreia group acquired a building on Av. Viscount of Valmor. The business represents an investment of around 27 million euros. Both properties are currently used for offices, retail and parking spaces; however they will be converted to residential use.

Meanwhile, the new five-star Hyatt Regency Lisbon hotel has been inaugurated. The arrival in the Portuguese capital of the world chain Hyatt, took place through United Investments Portugal and Fibeira, under the management of the UIP Hospitality Management Company. As a result of an investment of 70 million euros, the Hyat Regency Lisboa is located in Belém.

At the end of the week, it became public that the US fund Cerberus put up for sale the Fidelidade headquarters building, located in Largo do Calhariz, in Lisbon. At the end of 2019, Fidelidade sold the Arya portfolio to the North American fund, which included the insurance company’s headquarters building. Now, after three years, Cerberus puts the property up for sale. The building houses the headquarters of Fidelidade and also has Caixa Geral de Depósitos as a lessee.

The Elegant Group announced the sale of the Hotel Martinhal Cascais to Onyria, belonging to the Pinto Coelho family. The previous owners of Hotel Martinhal Cascais, the Pinto Coelho family, have been strengthening their close relationship with Roman and Chitra Stern, founders of the Elegant Group, in order to buy and re-integrate the hotel into their remarkable business portfolio at Quinta da Marinha. The investment value of the operation has not been disclosed.

Finally, the Municipality of Sesimbra approved the licensing for a new tourist project, in an investment of around 400 million euros. The development comprises two tourist villages, a hotel and areas of cultural and sports facilities. The proposal is currently being considered by the various entities involved.

 

The State of the Portuguese Real Estate Market in October

Despite the Portuguese economy experiencing a less favourable moment, mainly due to the rise in inflation and interest rates, the advent of autumn presents itself as a breath of fresh air in the real estate market. October was no exception, proving to be a month in which the industry is once again alert and overcomes any adversities. Proof of this were the announcements that stood out in the housing, offices and above all in logistics segments, the latter being the most highlighted in October, with strong investments and announcements.

 

Housing

At the beginning of the month, Habitat Invest and Patron Capital announced the acquisition of a plot for the construction of 514 new apartments in Almada. Located in one of Almada’s main expansion areas, Almada South Living covers an area of 9.600m² and has a construction capacity of approximately 51.000m². The investment value has not been disclosed.

Halfway through October, NORFIN presented “Campo Novo” in an investment of around 300 million euros. Most of the investment in this project will be provided by the North American fund King Street Capital Management which, together with the Arrow Global Group, owns the land. Located in the Campo Grande area, in Lisbon, it has 80,000m2 of construction above ground and provides for the construction of three residential condominiums (30.300m2) and four office buildings (37.600m2), joined by a commercial area with 12.100m2.

Meanwhile, Norfin and Castle Capital launched Lisbon Heights in an investment of 41 million euros. Construction has already started and is scheduled for completion in December 2024. The new private condominium already has 35% of the units reserved, resulting from private sales. The exclusive private condominium will occupy an area of about 20,000 m2 and consists of 95 units, divided between 13 villas from V1 to V5, and 82 flats, from T0 to T4, to which 7 commercial spaces are added.

Lastly, Laskasas launched its first real estate project. The Portuguese furniture and decoration group is advancing with the construction of its first residential development, located next to Mercado do Bolhão. This is the first of 8 projects that involve an investment of around 18 million euros.

Offices

In mid-October, Mota-Engil ATIV, a new brand in the Mota-Engil Group’s universe, announced that it had chosen Alverca Park to establish its new offices. The company will occupy an area of 1700 square meters, which corresponds to the entirety of the 2nd floor of Block A (owned by Mitiska REIM), thus becoming the largest occupant of that building.

Soon after, Cofidis opened its new headquarters at the Natura Towers, located in Lumiar, in Lisbon, in an operation that represented an investment of 46.5 million euros. The Natura Towers mark a new phase for the company in Portugal and reflect three strategic axes: sustainability, transformation and openness to the outside world.

By the middle of the month, Interfundos sold two office buildings in Gaia and Porto. These are the Via Gaia and Júlio Dinis buildings, both located in the Porto Metropolitan Area. The new owners are the Fortera Group and the Horizonte Urbano Group. The investment value has not been disclosed.

Retail

ALDI Portugal stood out in this segment, with two major announcements. By the middle of the month, ALDI Portugal opened its first store in Alcobaça, in the district of Leiria, in line with its expansion plan. The new ALDI Alcobaça will be the first space for the food retailer in the municipality, with a total sales area of 1.040 m2.

Two days later, Aldi opened a new store in Manique, in the municipality of Cascais, thus reaching 113 openings nationwide. Located in the parish of Alcabideche, this is ALDI Portugal’s fourth space in the municipality of Cascais. The new store offers a total sales area of 1.244 m2.

Logistics

At the beginning of October, LOGISLINK, an integrated company of GRUPO SOUSA, inaugurated the new Logistics Terminal in Azores Park. Located in Ponta Delgada, São Miguel Island, Azores. The infrastructure has a total area of 30.000m2, with a covered area of 8.500m2, of which 1.650m2 are cold areas. This investment of around 11,5 million euros will have the capacity to store 6.000 pallets.

Soon after, MC, Sonae’s food retail company, announced the occupation of the first building of the Rainha Green Logistics Park, in Azambuja. This logistics park is the first investment in Portugal by Green Logistics, a brand in the logistics area of the German group Aquila Capital, and is part of the Aquila Capital Southern European Logistic fund. The two-building logistics complex and associated urbanization work represent an investment of around 100 million euros.

October was already halfway through, when VGP, a pan-European company which promotes and invests in high-quality logistics and semi-industrial parks, laid the first stone for the construction of the VGP Park Loures. The investment value, between land acquisition and works, is around 30 million euros. The VGP Park Loures marks the arrival of VGP in Lisbon and is the first project 100% dedicated to Last Mile logistics, after the Group’s entry into Portugal in 2019. The project is already 100% leased to DPD and DHL.

Meanwhile, Grupo Violas Ferreira announced the acquisition of Sovena’s headquarters in Arquiparque. The building was sold by MelloRDC, through its subsidiary Arquimelo, to Grupo Violas Ferreira. The value of the investment is around 8 million euros. Sovena, the world’s leading company in the olive oil sector, which has occupied the building since 2012, with a lease in force until 2030, will remain in the property. The building is located in the renowned Arquiparque office park, located on the fringe of the A5, in Miraflores, at the entrance to Lisbon. The asset totals around 3.500m2 of offices spread over six floors, to which there are 62 parking spaces.

With the end of the month approaching, Montepino’s logistics portfolio managers, Bankinter Investment and Valfondo, announced Montepino’s first international project, with the acquisition of land in Lisbon, in an investment of around 150 million euros. The asset, with an area of ​​almost half a million square meters, is fully licensed and construction is expected to begin later this year.

Hotels

In mid-October, it became public that an old restaurant, closed for several years by the Lima River, in Serreleis, Viana do Castelo, will be transformed into a themed hotel. The four-star Filigrana ‘design’ hotel will have 26 rooms and will be the new unit dedicated to filigree, in an investment of more than 1,7 million euros. The former seafood restaurant has 2.440 square meters, with a total land area of ​​8.136 square meters.

Towards the end of the month, Azora Capital acquired The Lodge Hotel in Vila Nova de Gaia. The luxury five-star hotel, built on the former warehouses of the Real Companhia Velha in the riverside area of ​​Vila Nova de Gaia, was sold by Pluris Investments to Spanish Azora Capital, which, with this operation, reached its fifth acquisition in our country.

Alternative Assets

Also at the end of the month, there was an announcement that Explorer Investments and Pedro Seabra had acquired the real estate fund manager Refundos SGOIC, S.A. to Rivercrown Real Estate Management. This operation allows for the reorganization of Explorer’s real estate business, which is now managed by the company Refundos Explorer.

Finally, VIC Properties has put the assets of Matinha and Herdade do Pinheirinho for sale. The two assets, previously mortgaged to NovoBanco, had been purchased by VIC Properties from this bank in 2019 and 2020, respectively. The Prata Riverside Village project, located in the eastern part of Lisbon and whose construction is almost completed, was also put up for sale. VIC Properties hired Alantra to advise on the sale of the three real estate projects.

 

 

 

#Brainsflash – To highlight during the past week, the arrival of Montepino in Portugal with an investment of around 150 million euros in the acquisition of land in Lisbon.

October, 31, 2022

With the month of October coming to an end, the past week was very active in terms of investments and announcements, which proved to be quite significant and extremely important in the real estate market.

At the beginning of the week, it was announced that Explorer Investments and Pedro Seabra had acquired the real estate fund manager Refundos SGOIC, S.A. from Rivercrown Real Estate Management. This operation will allow for the reorganization of the Explorer’s real estate business area, which is now managed by the company Refundos Explorer.

Meanwhile, it became public that VIC Properties has put the assets of Matinha and Herdade do Pinheirinho for sale. The two assets, previously mortgaged to NovoBanco, had been purchased by VIC Properties from this bank in 2019 and 2020 respectively. The Prata Riverside Village project, located in the eastern part of Lisbon and whose construction is almost completed, was also put up for sale. VIC Properties hired Alantra to advise on the sale of the three real estate projects.

Halfway through the week it was announced that the Portuguese furniture and decoration group Laskasas had launched its first real estate project, with the construction of its first residential project. Located next to Mercado do Bolhão, this is the first of 8 projects with a total investment of around 18 million euros.

Meanwhile, Azora Capital acquired The Lodge Hotel in Vila Nova de Gaia. The luxury five-star hotel, built on the former warehouses of Real Companhia Velha in the riverside area of ​​Vila Nova de Gaia, was sold by Pluris Investments to Spanish Azora Capital which, with this operation, reached its fifth acquisition in our country.

With the week ending, Montepino’s logistics portfolio managers, Bankinter Investment and Valfondo, have announced Montepino’s first international project, with the acquisition of land in Lisbon, in an investment of around 150 million euros. The asset, with an area of ​​almost half a million square meters, is fully licensed and construction is expected to begin later this year.