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Real estate fund invests in Portuguese retail parks

Real estate fund invests in Portuguese retail parks - portugal news
Real estate fund invests in Portuguese retail parks - Portugal Business News

Portugal real estate news - Real estate fund First Retail Partners, that is backed by leading global private markets firm Partners Group, is investing in Portuguese retail parks.


The real estate fund has bought five Portuguese and five Belgian retail parks from Mitiska REIM, that is a privately held real estate investment fund manager headquartered in Brussels. The five Portuguese retail parks represent a Gross Leasable Area of 105,500m2 and are located in Villa Nova de Gaia, Aveiro, Coimbra, Santarem and Alverca.


First Retail Partners is a newly created fund with a gross asset value of around €280 million that will be managed by Mitiska REIM and backed by Partners Group. Mitiska REIM will become the fund manager of the newly created First Retail Partners fund and will remain committed to a strong pipeline of additional convenience real estate opportunities in both Belgium and Portugal, spanning retail parks, multi-let light industrial, self storage and urban logistics opportunities.


The portfolio of Portuguese retail parks includes high value-added assets that are anchored by major supermarkets such as Lidl, Albert Heijn, Delhaize, Mercadona, Auchan or Pingo Doce, and that have a strong and diversified tenant mix of national and international retail brands. The Portuguese retail park portfolio has also been awarded the BREEAM quality certification.


The new investment by First Retail Partners in Portugal’s commercial real estate is a testament to the resilience of the asset class despite the global economic environment.

#portugalnews #newsportugal #realestatenewsportugal #FirstRetailPartners #MitiskaREIM #PartnersGroup #newsretailparksportugal





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