Makro sold Alfradige buildings for more than €40M

Makro sold Alfradige buildings for more than €40M

Makro Portugal, together with Metro Properties, Metro AG’s real estate management subsidiary, sold its assets in the Alfragide area to real estate investment fund Imobiliário Aberto Imofomento, managed and represented by BPI Gestão de Ativos, for more than 40 million euro.

This was a & leaseback operation and it included the commercial establishment (Marko’s first store in Portugal) and the 24.500 sqm office building, 21.000 sqm of which used for the commercial area and 4.400 for offices.

The sale will allow Metro Properties to continue developing other projects within the group.

David Antunes, Makro Portugal’s CEO, considered that «this transaction confirms the excellent result Makro Portugal achieved throughout the years, especially during the pandemic. This bet METRO AG in the Portuguese market reiterated the group’s confidence in our country».

The transaction was advised by JLL. Fernando Ferreira, Head of Capital Markets at the consultant, commented in a release that this process was «very competitive, with the asset generating plenty of interest among investors. It was a very attractive investment opportunity, since it involved a long-term “sale & leaseback” operation with a solid company and market leader. Besides that, the building itself has excellent characteristics and has had continuous investment, being located in a strategic commercial location, in Lisbon», he concluded.

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