76
76
  • Transaction / Assets
    MK Premium Acquires Low-Rise Residential Property in Lisbon
  • Seller
    n/a
  • Buyer
    MK Premium
  • € MM
    .45

After Porto, Lisbon: MK Premium Invests €450,000 in First Asset in Portuguese Capital

2 July 2018

The Catalan family office acquired its first property in the Portuguese capital just three weeks after entering the Portuguese market with a property in Porto. The real estate company is also planning on finalising other acquisitions on Portuguese soil in the coming weeks.

MK Premium is looking for a perch on the Portuguese residential market. With this in mind, it recently finalised the acquisition of its first asset in Lisbon with an investment of 450,000 euros. The Catalan family office, founded by the brothers Daniel and Sergio Leiva, set up camp in the Portuguese capital through the acquisition of a building in the city centre. “We look for properties located in strategic areas that will allow us to respond to the growing demand for housing,” Daniel Leiva explained to EjePrime.

MK Premium new property in Lisbon is comprised of four flats spread over two floors and a total area of ​​262 square meters. The asset is located at number 54 Rua Marvila, “one of the prime areas of the capital,” a statement by the company highlighted. On the banks of the Tagus River, the building is close to the Parque das Nações, the Vasco de Gama Bridge and the airport.

The family office prefers not to reveal yet what it intends to do with the property, which, despite its age, is “in very good condition.” The building fits in, however, with the pattern requested by the owners who request the services of MK Premium. “They are, above all, low-rise residential buildings, located in strategic areas (of the city), which will allow us to respond to the growing demand for housing,” says Leiva.

The building in Lisbon is the family office’s second asset in Portugal, although it will probably not be the last one. The first was purchased one month ago in Porto, as reported by EjePrime. It is a five-floor building with eight flats, located near the iconic Don Luis I bridge, for which the company paid half a million euros.

“Lisbon and Porto are two cities that have a large pool of properties that are suitable to MK Premium’s business model,” said Mr Leiva, who is already working with his brother and the rest of the team to finalise additional purchases “in the coming weeks.” “We are about to finalise several more deals in both Lisbon and Porto,” the family office’s co-founder added.

Objective: invest €7 million in Portugal in 2018

After setting up shop in Portugal last January, MK Premium’s plan for this year involves investing up to seven million euros in Portugal, “a country with great business opportunities” for real estate, as Leiva recently explained to EjePrime.

Therefore, the company has expanded its headquarters in Porto to accommodate increased staff levels in the northern city. In this sense, the investment in Portugal can be seen as a part of the growth plan that is being carried out in Madrid, where in recent months it has finalised the acquisition of three properties, while it is currently negotiating the acquisition of several more.

Since its inception, MK Premium has invested almost one hundred million euros in the purchase of 190 assets, mostly fully-residential buildings, including ground-floor shops. The Leiva brothers plan to invest up to fifty million euros in 2018 in the acquisition of eighty properties distributed among its four markets: Madrid, Barcelona, ​​Lisbon and Porto. Just in the first half of the year, the company has added 35 assets to its portfolio.

Original Story: EjePrime – Jabier Izquierdo

Translation: Richard Turner