12 Oct 2015
M7’s New Portuguese JV to Acquire Two Industrial Parks in Lisbon Region
London, 12th October 2015 – MPort, M7 Real Estate’s €250 million joint venture with a well-capitalized U.S. investment manager, has exchanged contracts to acquire two industrial parks in the Greater Lisbon area from Aermigeste Investimento E Gestao, a local Portuguese developer and asset manager.
The purchases are the first by MPort and follow the recent opening of a Lisbon office by M7 Real Estate, the pan-European investment manager specialised in multi-let properties. The two parks are located along the Western Corridor near Cacem and Carnaxide and have a total of 26 tenants and a vacancy of approximately 13%. M7 advised on the purchase and will manage the assets.
Phillip Rosenberg, the Investment Manager at M7 overseeing the agreed transaction, said: “These assets are a great start for our new JV in Portugal. From day one they produce a high level of quality income while offering us opportunities to increase capital values with asset management wins. We have a healthy pipeline following these acquisitions and I look forward to working with Leonardo Peres, our local Director, in building MPort’s portfolio.”
MPort’s strategy targets multi-sector, high yielding assets across Portugal with the goal of assembling and managing an investment portfolio with a high level of diversified income.