industrial Market News: Portuguese Real Estate Intelligence

VGP Group to Invest €80 Million in Portugal
17 November 2020The VGP group plans to begin the construction in Santa Maria da Feira in January of its first project in Portugal, an investment of 20 million euros.  With over 70 logistics complexes in 11 European countries, the group is currently completing its acquisition of land to build four more logistics complexes in Portugal. Jan Van Geet announced a year ago that the construction of VGP Park Santa Maria da Feira was to be completed in December this year. However, the arrival of the pandemic delayed work on the structure, scheduled for March. Construction is now due to begin in January, and completion is expected within eight to nine months. Located on a plot of land with an area of 73,500 square metres, the future VGP Park will have a covered area of over 30,000 square metres. With the pandemic delaying construction, the VGP Group is in the final phase of acquiring additional land to develop more parks, forecasting a total investment of 80 million euros in five projects around the country. VGP is also eyeing four other plots of land: in Loures, Sintra, north of Lisbon and north of Porto. Original Story: Jornal de Negócios - Rui Neves Translation/Summary: Richard Turner
M7 Acquires Logistics Assets in €41-Million Deal
6 November 2020 - M7 Real Estate has acquired a logistics portfolio in Portugal in two transactions totalling €41M, on behalf of a new joint venture with a Portuguese investment fund. The assets involved include ten industrial and office spaces. The 85,600m² portfolio M7 acquired is the result of two separate transactions and comprises five logistics assets located in Lisbon and Porto; three office buildings in Lisbon; and two retail warehouses in Greater Lisbon and Madeira. This operation was financed Novo Banco, which provided a €20.55m loan to finance the acquisition of the portfolio. Original Story: Europe RE Translation/Summary: RDT
Teixeira Duarte Sells Two Warehouses to French Investment Fund
28 October 2020 - An unnamed French investment fund, advised by real estate consultant B. Prime, has acquired the Lezíria Park complex from Teixeira Duarte for an undisclosed amount. The industrial park, which is located between Santa Iria and Alverca, by the EN10 highway, consists of two warehouses with a total area of over 4,000m2. The warehouses are currently fully leased. Lezíria Park is an industrial estate that includes commerce, services and logistics. The warehouses benefit form covered parking, with unloading docks, access ramps, hydraulic platforms and sectional gates. Original Story: Idealista Photo: B. Prime Translation/Summary: Richard D. Turner