All Market News: Portuguese Real Estate Intelligence

Catella CER Invests €15.5m in Student Residence in Portugal
January 21, 2022 – Brainsre.news The 6.622-m2 student residence is located in Carcavelos, Cascais, and comprises the fund’s first investment in Portugal. The Catella European Residential Fund (CER) is investing in Portugal for the first time, paying €15.5 million for a 99-year concession for a student residence in the municipality of Cascais. The Berlin-based Catella Residential Investment Management GmbH (CRIM) as the investment manager and Catella Real Estate AG, a Munich-based AIFM platform, were advised by Catella AM Iberia S.L. on the transaction. Value One Holding sold the asset. In a statement sent to brainsre.news, managing partner of CATELLA-AM Iberia, Eduardo Guardiola, commented: “This transaction is a milestone for CER, the fund’s first investment in Portugal, and also for CRIM, as it represents its first acquisition in Portugal. It is also an important transaction for Catella AM Iberia, as it is our first asset under management in Portugal and the third student residence under management. There is no doubt that the Portuguese real estate market presents interesting opportunities in affordable student residences, residences and offices, markets that are very different in their maturity and size, but all of them interesting to us in different ways.” The student residence is located in Carcavelos, in the municipality of Cascais, close to the beach and a 10-minute walk from NOVA School of Business and Economics (Nova SBE). Lisbon’s city centre is 20 minutes away by train. The 6,622-m2 property was built in 2020 and consists of 192 spacious single rooms (20 m2 on average), a gym, rooftop terrace, study, music and leisure spaces and parking. It is 99% occupied and was awarded a LEED Gold sustainability certification after its construction. Vienna-based MILESTONE is part of the Value One Group and is the current manager of the asset. The international real estate developer and student residence operator brings extensive knowledge of the design and management of student residences, combined with international experience. MILESTONE currently has 4,627 student beds under development and management in Austria, Portugal, Germany, the Netherlands, Poland and Italy. The CER Fund has over €1.6 billion in AUMs including approximately 70 assets, generating a net annual internal rate of return of 9.6% since its launch in 2007. Translation: Richard D K Turner
Aquila Capital Announces its First Logistics Fund in Southern Europe
January 19, 2022 – Brainsre.news The fund is looking to raise 1.5 billion euros. In a press release published on its website, Aquila Capital announced that it was launching its first logistics investment fund in southern Europe, including Portugal. Aquila Capital Southern European Logistics (ACSEL) has a target investment volume of 1.5 billion euros with a maximum debt-to-equity ratio (LTV) of 50%. ACSEL launches with a committed capital volume of €330 million raised from international institutional investors, including SCI Primonial Capimmo. The open-ended fund has a pipeline of nine newly built assets located in Italy, Spain and Portugal and expects to raise "first close" capital within 18 months. The first investment has already been approved, a 115,000 m2 logistics asset in Azambuja, a strategic and central logistics centre in the Lisbon metropolitan area. 70% of the asset has been pre-let to a blue-chip tenant with a 20-year lease term. "The fund will focus on modern, energy-efficient logistics properties that are built and operated to the highest standards of energy efficiency and environmental protection, and that create added value by combining sustainability, attractive lease terms and strategic locations," Aquila stated on its website. "Selection criteria include proximity to transport hubs to minimise transport-related carbon emissions and sustainable building standards that include BREEAM certification, installation of rooftop photovoltaic panels and offsetting CO2 emissions." Roman Rosslenbroich, CEO and co-founder of Aquila Capital, added, "We see a growing interest among institutional investors in sustainable real estate assets, including logistics centres. The Aquila Capital Southern European Logistics fund is a response to this demand, focusing on the southern European markets where we still see many opportunities due to the need for modern, large-scale warehouse space. Our investors will benefit from our long-standing real estate experience - a total transaction volume of €2.6 billion covering a total area of over 1,800,000 square metres - as well as early market entry advantages due to our local teams. This real estate sector matches the strategies of investors and tenants, who consider all ESG criteria, for all sustainability, as a fundamental and necessary value to contribute to the global energy transition." Translation: Richard D K Turner
Mercadona Invests €24.5m in New Warehouse
January 19, 2022 – Brainsre.news The supermarket chain is expanding its logistics capacity, building a new warehouse in Póvoa de Varzim, to the north of Porto. Mercadona has extended the storage capacity of its Póvoa de Varzim Logistics Centre with the addition of a 12,000 sqm warehouse. This new warehouse, built on a 50,000 m2 plot of land adjacent to the one it has already been operating since 2019, addresses its expansion in Portugal. The project represented an investment of €24.5 million, the Spanish supermarket chain reported on its website (www.mercadona.pt). The website also stated that “a total reconfiguration of the space was carried out. Thus, the new 12,000 m2 will now store the fruit and vegetables that are sent daily to the chain’s supermarkets in Portugal”. In addition, the land where the new warehouse is located has 17,000 m2 of green areas and 100 parking spaces, 2 of which are allocated for charging electric vehicles, connected to the MOBI.E network, in line with the company’s commitment to electric mobility. In 2019, Mercadona started operating the Póvoa de Varzim Logistics Block with two warehouses after an investment of €60 million. In total, the company has already invested €84.5 million in the Póvoa de Varzim Logistics Block, including three warehouses built in a total area of 100,000 m2, creating 350 jobs, 20 of which are a part of the new expansion project. Carlos Lopes, Director of the Póvoa de Varzim Logistics Centre, said: “We are very proud of the expansion of the Póvoa de Varzim Logistics Centre, which represented, in addition to the creation of more local jobs, a major investment in ensuring better service for our shops, bearing in mind customers’ needs. We believe that this is a natural evolution for us to respond to the needs of expansion in Portugal and we hope that with the reinforcement of the logistics network we will continue to ensure the satisfaction of the Portuguese who choose Mercadona as their trusted supermarket every day.” Aires Pereira, Mayor of Póvoa de Varzim, stated that: “The impact, size and impact that an international company like Mercadona has on the local economy - and especially on the growth of our Laúndos Industrial Park - is also significantly reflected at the level of increased employment in our municipality; not least because half of the total number of employees in these three units reside in Póvoa de Varzim.” In 2021, the company announced the development of a future Logistics Block located in Almeirim, district of Santarém, whose start of construction is scheduled for this year. Translation: Richard D K Turner