Transaction / Assets Montijo Retail ParkSeller naBuyer CA Património Crescente / Square AM€ MM 15.5
CA Património Crescente Snaps Up Montijo Retail Park for €15.5 Million from Commerzbank
21 September 2019 – CA Património Crescente, a fund controlled by Square Asset Management, has acquired the Montijo Retail Park, across the Tagus river from Lisbon, from Commerzbank for €15.5 million. Commerz Real, Commerzbank’s fund manager, originally bought the asset in 2009 for approximately €30 million.
Market sources stated that the deal went for less than 1,000 euros/m2, with a yield of 7.5%.
Montijo Retail Park, which is located next to the Montijo Forum, has a surface area of about 18,000 square meters, an 800-car parking lot and tenants such as Conforama, Leroy Merlin, Espaço Casa e Guimarães Footwear.
Original Story: Economia Online – Rita Neto
Adaptation/Translation: Richard D. K. Turner