Sogenial Immobilier, a Real Estate Fund Manager, marked its entry into the Portuguese market in December 2023, representing a Pan-European Fund. Managing funds exceeding €1 billion, Sogenial commenced its Portuguese venture with the acquisition of Évora Retail Park, a property spanning approximately 8,000 m2. Formerly owned by a banking institution, the retail park is leased to prominent tenants including Worten, Sportzone, Rádio Popular, and JOM—established names in the Portuguese retail landscape.
Situated adjacent to Évora Plaza, the sole shopping center in the city, the acquired property integrates into this vital commercial hub for the Évora community. Cushman & Wakefield (C&W) facilitated the transaction on behalf of the seller, with advisory support from PBBR and technical insight from NewCycle.
Jean-Marie Souclier, President of Sogenial Immobilier, emphasized the significance of this initial transaction in Portugal, citing the country’s solid investment appeal and compelling fundamentals as catalysts for further growth.
Francisco Seabra Ferreira, Head of Real Estate for Serris REIM in Portugal, underscored the strategic importance of securing the asset, given its positioning within Évora and the high-quality, long-term leases with tenants.
Tiago Pereira, Associate and Head of Retail Investment at C&W, observed that the deal demonstrates sustained interest from conservative foreign investors in the Portuguese real estate market, especially for properties boasting recognized tenants and lengthy lease terms. The acquisition signifies the buyer’s commitment to a well-consolidated property, boasting a positive operational history, continuous growth, and a first-class tenant mix in the Retail Parks segment.
——————————
If you are a proptech company and want to promote your products, go to proptechbuzz.com and submit your products. For investors or proptech buyers, sign up on our platform to stay informed about exciting updates and trends in the Proptech Ecosystem.
Explore more Proptech news at media.proptechbuzz.com, for news tips and promotions, reach out to marketing@proptechbuzz.com
By Proptechbuzz
By Ravi Kumar