French real estate manager Sogeniel Immobilier has marketed its entry on the Portuguese market with the acquisition of a retail park and an industrial warehouse.
Acting on behalf of a pan-European Fund, Sogenial purchased the 8,000 m2 Évora Retail Park from a banking institution for an unnamed sum.
Strategically positioned right beside Évora's premier shopping center, Évora Plaza, the park is tenanted by renowned Portuguese brands Worten, Sportzone, Rádio Popular and JOM.
Jean-Marie Souclier, president of Sogenial Immobilier, said: ‘The country is increasingly presenting itself as a solid investment destination, with very interesting fundamentals. These lead us to want to grow in Portugal.’
Francisco Seabra Ferreira, head of real estate for Serris REIM in Portugal, added: ‘This was an opportunity that we wanted to secure, due to the asset positioning for the city of Évora and the quality of the tenants with solid long-term contracts.’
Tiago Pereira, associate and head of retail investment at C&W, commented: ‘This deal proves that, even in a more challenging context, the Portuguese real estate market continues to capture the strong interest of foreign investors with more conservative profiles and that, properties with recognized tenants on the market and long lease terms, maintain strong demand.’
Cushman & Wakefield (C&W) acted on behalf of the seller, Sogenial was advised by pbbr, while NewCycle provided technical advice on the transaction.
Pbbr also advised Sogenial Immobilier to close its second operation in Portugal, involving the purchase of an industrial warehouse from Equanto – Intercâmbio Comercial e Industrial, which now becomes the long-term tenant of the facilities, where it produces a wide range of organic products.
The property sits in the Polypark industrial park, in Arruda dos Vinhos, and has more than 7,000 m2 of gross leasable area for logistics, cold storage, production area, and offices.
Francisco Seabra Ferreira commented that the investment in Equanto’s office, warehouse, and production facilities ‘represented an opportunity to invest in a quality property that serves the operation of a company that operates in a growing market with ambition and high operational solidity, in a long-term relationship.’
Sogenial Immobilier focuses on investment management and asset management in different sectors such as retail, offices, logistics, or healthcare. Currently, it has a portfolio of assets totalling over €1 bn.
