Norfin sells logistics assets to Bedrock and Europi

Norfin sells logistics assets to Bedrock and Europi

Bedrock Capital makes its debut in the logistics market in Portugal with the purchase of two logistics assets from Iberia FEIF, managed by Norfin, together with Europi Property Group (EPG), an international investor that also makes its debut in Portugal.

One of the properties is located in Cartaxo, and is fully leased by a company of the Sonae group.

The other is located at Quinta do Adarse, in Alverca do Ribatejo, also occupied by a Portuguese company.

Daniel Lopes, Norfin Manager, comments that «over four years, Norfin worked to improve the quality of services provided to tenants, in the renovation and improvement of the quality of buildings. In this way, we boosted the market value of the assets and, having sold at the right time, maximized the return of our investors».

For his part, João Terneiro Gonçalves, Executive Partner at Bedrock Capital, says: «we are very pleased with the acquisition of these two assets, which marks our first operation in partnership with the Europi Property Group. We are optimistic about the Portuguese logistics market, which has been experiencing growing demand from operators, with warehouses located in two important logistics hubs in Lisbon»,

Savills accompanied Norfin in this process. In a statement, he recalls that the industrial and logistics sector continues “in rapid expansion” throughout Europe. After a record take-up in 2021 in Portugal, the consultancy predicts a new high this year.

Alberto Henriques, Capital Markets Associate Director of Savills Portugal, comments that «it was very gratifying to advise Norfin in the transaction of this set of assets and to participate in the introduction of Bedrock Capital and Europi Property Group in the logistics segment in our country, having been a process efficient and collaborative among all parties involved». He considers that «these units, present in consolidated logistics zones, benefit from the growing occupancy demand and the positive evolution of rents».

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