A company formed jointly by urban logistics property developer and asset manager Chancerygate and real estate investor Mitiska REIM has appointed its first development director for Portugal.
Chancerygate Mitiska, which is a multi-let light industrial park developer and asset manager with an office in Lisbon, has hired Sebastião Madeira from Cushman & Wakefield.
Prior to joining Chancerygate Mitiska, he was a senior consultant in the real estate consultancy’s Lisbon office where he led a team in the capital markets division advising on developments and appraisals. Previously, Madeira was a real estate project manager at Teixeira Duarte Real Estate, a Portuguese real estate development and management company.
In his new role, Madeira is responsible for driving Chancerygate Mitiska’s activities to develop multi-let light industrial parks in Portugal and growing assets under management.
Commenting on his new role, Madeira said: 'There’s significant market potential in Portugal for Chancerygate Mitiska to deliver its Grade A, sustainable multi-let light industrial and logistics product.
'This is an exciting opportunity to join the company at the start of its growth journey and deliver the overall objective of Chancerygate Mitiska becoming Portugal’s leading light industrial developer.'
In June, Chancerygate Mitiska completed its first acquisition which was a 6.67 acre (2.7 ha) brownfield site located 20 minutes’ drive northwest of Lisbon within the municipality of Sintra.
The company’s initial objective is to acquire five sites to deliver multi-let developments in the Lisbon, Porto and Algarve areas.
Chancerygate European director, Jason Sharman, said: 'Sebastião has a strong professional background within the Portuguese commercial real estate market with extensive experience advising on developments. This makes him the ideal person to drive Chancerygate Mitiska’s presence in the country.
'In quick succession, we’ve acquired our first site and appointed new talent to drive our activities in the region. This is testament to our commitment to our European expansion plans.
'As our activities accelerate, we will be open to working with wider investor partners to further capitalise on the strong market opportunities throughout Portugal.'
Mitiska REIM’s investment manager for Portugal, Enzo Guidez, adds: 'We look forward to working side by side with Sebastião in the Portuguese market. His strong experience in multi-let light industrial bolsters our on the ground team in Portugal as we look to capitalise on the opportunity we see in the sector.'
