Deutsche AM buys logistics platform in Lisbon

Deutsche AM buys logistics platform in Lisbon

The amount invested in this asset has not yet been revealed. In one of the most modern logistics centres of Greater Lisbon, and in an excellent location in this sector in Portugal, the platform known as EIPA II extends over 52,640 m² and is rented in its entirety to one of the main retailers of Portugal, with a long-term contract.

The property was built in 2011 as an integral part of the Eco-Industrial Park Azambuja (EIPA), in the most important logistics corridor in Lisbon. Fulfilling the most modern and demanding technical requirements, it has the BREEAM certification, and a storage capacity of 514,000 m², 10.5 m in height and 81 cargo bays.

The acquisition of Azambuja is further evidence of our guarantee of high quality assets in the Portuguese real estate market,” said Carlos Manzano, who is in charge of the real estate department at Deutsche AM in Espanha and Portugal.

With this transaction, Deutsche AM increased its asset portfolio in Portugal to 330 million euros; an amount which could grow again shortly. “We will continue to look for investment opportunities in Portugal, with our main focus on core assets in offices and shopping and logistics centres,” he continued.

More than 1,000 million euros invested in Iberia in the past 18 months

Just in the past 18 months, the real estate area of Deutsche AM has invested more than 1,000 million euros in the acquisition of assets in Spain and Portugal, especially in the areas of shopping centres, offices, and logistics. At present, the department manages assets worth a total of 1,400 million euros on the Iberian Peninsular (as on 1st May 2017).

The vast majority of this investment was in Spain. In Portugal, the last deal completed by Deutsche AM was the purchase of a portfolio of three shopping centres from Lone Star Funds at the end of 2015, through the socimi Trajano Iberia. The assets comprised the Alma (Coimbra), Alameda (Porto) e Nosso (Vila Real) centres, at a sum estimated to be near 200 million euros, strengthening an asset portfolio in Portugal which at the time included ‘just’ the Forum Madeira shopping centre, in Funchal and the office building Office Oriente, in the Parque das Nações.



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