Portuguese asset manager Norfin has sold two logistics assets totaling over 35,000 m2 to a joint venture of real estate asset management firm, Bedrock Capital, and international investor Europi Property Group (EPG), for an undisclosed amount.
One asset is located in Cartaxo, in the district of Santarem, and is fully occupied by a tenant from the Sonae Group. The other asset, located in Quinta do Adarse, in Alverca do Ribatejo, is also fully occupied by a blue chip tenant.
‘We are extremely proud to have been able to advise Norfin on these transactions, and collaborate with Bedrock Capital and Europi Property Group on making their debut entry into our country’s logistics sector,’ commented Alberto Henriques, associate director, Capital Markets, Savills Portugal, which brokered the deal.
He added ‘These assets are located in well-established logistics hubs and will benefit from growing occupier demand and the upward trajectory of rent values.’
João Tenreiro Gonçalves, Executive partner at Bedrock Capital, added, ‘We are very pleased with the acquisition of these two assets, the first transaction with our partner Europi Property Group. We are optimistic about the future of the Portuguese logistics segment, which has been registering an increased demand from operators, and these two warehouses are located in two of Lisbon’s main logistics hubs.’
