Addrezza placed €60M portfolio on the market

Addrezza placed €60M portfolio on the market

Addrezza, part of Grupo Laje Capital, has, since March, a portfolio on the market with more than 200 buildings estimated at around 60 million euro – Project Silk. The process is in the hands of Square AM, manager of the fund which owns the buildings, Addrezza Arrendamento, and CBRE.

According to the teaser to which Eco had access, the portfolio was initially composed of 219 buildings, but some were withdrawn. 200 are housing assets, with a total combined area of 24.600 sqm, and generate 806.000 euro per year. The remaining 19 assets are offices, stores, terrains and apartments with a total combined area of 40.670 sqm worth 32.000 euro in annual rents.

The same document mentioned that most contracts for this portfolio started to be cancelled last year. 46% of the assets are vacant, a percentage which «will increase during the coming months, since most contracts», quoted the newspaper.

The non-binding stage ended on April 7 and it has now entered the binding stage, which will finish in two weeks. Eco advanced that Whitestar Asset Solutions, representing an investor and German Deutsche Finance, along with Finsolutia remain on the race.

Addrezza owns several housing and luxury hotel projects, such as Sublime Comporta, Amoreiras Residence, Amoreiras Vista, Malha 34 Alta de Lisboa and i53 Carcavelos, which are shown on the company’s website.

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