Spanish Tander invested €20.9M in Lisbon’s city centre

Spanish Tander invested €20.9M in Lisbon’s city centre

Last Friday, Tander became the new owner of four stores located at Avenida da Liberdade and Rua Rosa Araújo, for which it paid a total 20.9 million euro. With this transaction, the company now owns five stores in Lisbon, after having bought its first asset in 2019: a 486 sqm store, currently occupied by Springfield, located at number 85 Rua Nova do Almada, within this market’s most prime axis: Chiado.

One year later, the REIT continues its expansion within the Portuguese market; proceeding with its strategy focused on acquiring high-street stores within prime locations. The stores are fully leased and this last operation in Lisbon was carried out using the REIT’s own funds through Tander’s Portuguese subsidiary; although «it is expected to have partial short-term financing».

The same as with the previous one, these four stores are also fully leased, revealed the Spanish REIT in a release sent to Spain’s CNVM.

This investment took place around one year after Tander entered the Portuguese market. As advanced by Vida Imobiliária, Porto was the REIT’s entry into our country, with the acquisition from Avenue of 4 high-street stores located at number 107 Avenida dos Aliados. Occupied by brands such as Boutique dos Relógios Plus, Tod’s and Burberry, these assets have a total combined area of 1.720 sqm and were bought for 15.7 million euro in 2019.

Focused on the high-street segment, Tander Inversiones is a REIT listed at MAB – Mercado Alternativo Bursátil. Its headquarters are in Barcelona and it has assets in Spain (Barcelona, San Sebastian and Bilbao), Portugal (Lisbon and Porto) and Italy (Roma).

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