Clarion Partners Europe has acquired a portfolio of six newly developed supermarkets across Portugal from Dutch-based developer Ten Brinke, on behalf of one of its funds.
The investment manager said the properties, totalling around 13,000sqm, are fully leased on new 20-year terms to one of Europe’s largest food retailers.
Financial details were not disclosed.
The supermarkets are located within densely populated locations, with around 60% of the portfolio’s annual base rent generated in the Greater Lisbon and Porto regions, Clarion Partners said.
Max Rooney, director at Clarion Partners Europe, said: “The Portuguese food retail sector is highly attractive, underpinned by resilient consumer spending and strong tenant covenants. This portfolio aligns with our conviction in the sector’s long-term defensive characteristics, offering stable, predictable income streams while also benefitting from modern, strategically located assets around key population centres.”
Thorben Schaefer, managing director at Clarion Partners Europe, added: “This transaction represents a compelling long-income opportunity, allowing us to capitalise on ongoing investor interest in essential, convenience-driven retail formats.”
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