Bedrock and Europi buy another logistics portfolio in Portugal

Bedrock and Europi buy another logistics portfolio in Portugal

Although without advancing the value of the deal, Bedrock Capital explained to Vida Imobiliária, the Portuguese publishing of Grupo Iberinmo, that the real estate portfolio now acquired consists mainly of logistics warehouses that were held by three real estate funds managed by Santander Asset Management, comprising a gross construction area of around 24,000 sqm.

Highlighting the "excellent quality" of this real estate portfolio, for João Tenreiro Gonçalves, partner of Bedrock Capital Partners, "this transaction is demonstrative of Bedrock's ability to identify and execute real estate deals in the Portuguese market. This is the fifth operation completed by the joint venture [Ecologis] in less than a year, and brings the portfolio under management to over 150,000 sqm of high quality logistics assets in Portugal.

The assets which make up this portfolio include a set of six warehouses which form part of the Norcentro business and logistics centre, in Alverca - around 20 km from Lisbon and with quick access to the A1-, and another warehouse located in Quinta da Marquesa, in the Palmela area, with a location close to Auto-Europa and around 30 km from Lisbon. "The warehouses are fully occupied by benchmark operators in our market," said the same source.

According to Luís Figueiredo, director of Santander Asset Management, "the sale of this real estate portfolio fits into the strategy defined by the management company.

Active for about a year and totalling 150,000 sqm, Ecologis is the logistics investment platform in the Portuguese market that results from the joint venture between Europi Property Group and Bedrock Capital Partners, and which focuses on the acquisition of "strategically located and modern assets, predominantly located in the Lisbon metropolitan area".

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