Transaction / Assets Sellerna Buyerna € MM
#Brainsflash – Of note last week was the announcement that the largest “green” logistics centre on the Iberian Peninsula will be born in Portugal, in an investment of several hundred million euros
February, 13, 2023
In this second week of the month, the real estate market has been dynamic, along with the presentation of balance sheets and results of several companies. On the other hand, several events, meetings and conferences took place throughout the week, which did not stop the activity. Even with a smaller number of announcements to highlight, the operations that emerged reveal the importance and robustness of the sector.
With the week starting, it became public that the Gago Coutinho Building 26 in Lisbon has been sold. The building was built in the late 1970s, and in 2015/2016 it underwent significant rehabilitation. It totals approximately 8,200m2 of gross building area, spread over 9 floors. It also has 55 parking spaces. The investment opportunity was presented to Fundo CA Património Crescente (Fundo de Investimento Imobiliário Aberto, managed by Square Asset Management), which ended up acquiring the building.
Soon after, there was the announcement that the largest “green” logistics centre on the Iberian Peninsula will be born in Portugal. Parque Logístico Grândola – Euro Atlantic Logistics Park (GLPEA), will be located in Grândola, 150km from the Spanish border. Qantara Capital allocated an investment of several hundred million euros for the development of the new logistics centre, which will occupy an area of 130 hectares and will have a total of 670,000m2 of construction area for logistics, industry and services, 300,000m2 for adjoining infrastructures, and 330,000m2 for green areas.
Finally, Lidl has announced an investment of 11 million euros in the opening of a new store in Vila Nova de Famalicão. The retailer thus continues its investment in Portugal, with the opening of its 89th store in the North zone, in Vila Nova de Famalicão. This is the fourth store in the municipality, which focuses on the development of the local economy. The new space has an area of 1,400m2.