• Transaction / Assets
    Britain's Jackyl Acquires Second Asset in Lisbon
  • Seller
    n/a
  • Buyer
    Jackyl
  • € MM
    28

After Rossio, Jackyl Invests €28 Million in Oeiras

11 January 2019

A year after buying a set of properties in Rossio, the UK-based Jackyl has now acquired a plot of land in Oeiras with more than 180,000 square meters.

Britain’s Jackyl recently bought a plot of land in Oeiras for 28 million euros. This is the company’s second acquisition in Portugal, after having acquired a set of buildings in Rossio in February of last year.

In partnership with ByBrook Capital, Jackyl successfully completed the acquisition of a 186,000-m2 plot of land in Oeiras for 25 million pounds (€28 million), the company announced in a statement sent to ECO. “This is our second deal in Portugal this year, and I am very satisfied with this,” says Blake Loveless, Jackyl’s founder. According to market sources contacted by ECO, the land is located between Alfragide and Carnaxide.

“This deal was due both to positive market momentum – including its potential for growth and relative value – and to its very specific and unique characteristics.” Portuguese and international companies such as PLMJ and VdA (law firms) and EY participated in the transaction. When contacted by ECO, Jackyl declined to comment on the transaction.

It is not the company’s first foray into the Portuguese market

Jackyl’s first acquisition in Portugal came last year in February when it acquired buildings 96 to 122 on the Praça D. Pedro IV in Rossio from a private investor. The firm did not disclose the value of that investment. Luxury flats and large, ground-floor stores are in the works for the properties.

“We are excited about this building which, given its location in one of the most interesting markets in Europe, is our first acquisition since Jackyl’s launch this year,” Mr Loveless said at the time. “It is in line with our strategy to acquire unique, well-located and significant buildings that benefit from a dominant presence in the major European cities.”

ECO learned that Jackyl is not in the process of negotiating any other acquisitions in Portugal at the moment, but the company is open to any new opportunities that may arise.

Created last year, Jackyl is currently active in five cities – London (its base), Paris, Madrid, Lisbon and Nassau. In May of last year, the company acquired 39 flats in the South Bank Tower in London, in what was its second transaction. “Our goal is to make our mark on the London real estate market, and there is no better way to start this than to acquire this impressive tower along the iconic River Thames,” Loveless said at the time of the acquisition.

Last year, the company achieved a turnover of around 500 million euros in Europe, including its assets on the Praça do Rossio.

Original Story: Economia Online – Rita Neto

Translation: Richard Turner