CBRE has a total of 41 operations on the pipeline at the start of this year, surpassing 1 billion euro.
Last year, CBRE followed investment transactions totalling 205.000 sqm. Nuno Nunes, Director of Capital Markets at CBRE explained that: «in 2020 CBRE was involved in 21 investment transactions, for a total of more than 615 million euro, of which around 515 million euro concerning buildings and more than 100 million euro concerning properties for real estate development, standing out as the clear market leader».
The highlight went to the sale of Expo Tower or IADE, in Lisbon, and the sale of the former CUF Hospital, near Palácio das Necessidades, which will be transformed into a housing project. The consultant also supported the Lagoas Park transaction, sold to fund Henderson Park by Kildare for 421 million euro.
According to the consultant, commercial real estate investment moved in 2020 a total of 2.9 billion euro in buildings alone, which confirmed its resilience during the pandemic, and established 2020 as the third-best year ever for the segment.
Also worthy of note was CBRE’s Capital Advisors team involvement in the sale of Barclays/Bankinter’s housing portfolio (11.000 sqm), the management and sale Oitante/Altamira’s portfolio (915.000 sqm) and the acquisition of Edifício Latino Coelho building, in Porto.
The consultant also highlighted the yields’ increase, in particular for shopping centres, high-street retail and hotels, «as a consequence of the crisis generated by the new coronavirus». On the other hand, there were yield compressions on the logistic and supermarket segments. The office segment had a slight increase in terms of yields, but the more privileged areas of the Central Business District and Eixo Ribeirinho «showed resilience».
«After 2019 with a unique dynamic, we faced 2020 marked by the pandemic, which impacted all the sector’s segments, with a deceleration in demand, in a year initially expected to be very strong», pointed out Francisco Horta e Costa, CBRE’s managing director, who further highlighted that «despite the unfavourable situation, real estate market continues to show dynamics and signs of adaptation, with the third-best performance ever, in terms of investment».
He concluded by saying that «CBRE’s activity, on all the different segments, dictated positive results, when faced with the demands and challenges last year brought, even against an adverse scenario; qualities which we want to carry over to 2021, a year which will demand a strong ability for regeneration and adaptation», he predicted.
The consultant’s Capital Advisors department estimated that, until June, several Mergers & Acquisitions, Portfolio and Debt Advisory Services, estimated at more than 700 million euro, will be initiated. In terms of the office segment, the company estimates to place between 25.000 and 30.000 sqm (20 operations) until June.