The CA Património Crescente Fund, managed by Square Asset Management, acquired the headquarters of MD Plastic, a company specialising in product solutions and moulds in the area of the automotive lighting industry, located in Valado de Frades, Nazaré. JLL was mandated by MD Group with the objective of marketing the asset.
The asset, built in 2018, contemplates a total area of 9,500 square metres. However, as it is strategic for the company's operation, the group intends to maintain the operation in the current location in the long term. Therefore, the asset was sold in a sale & leaseback transaction with a long-term contract worth approximately 5.5 million euros.
Salvador Leite de Castro, Head of Private Wealth at JLL, emphasises that "we seek to provide a personalised service to our clients and therefore, at JLL, we always work on an appropriate solution for each operation we undertake. In this case, the Fund managed by Square AM emerged as the ideal solution, taking into account the requirements presented by our client, the MD Group. It was a key factor for the group to maintain the location of its headquarters, and this type of transaction was the most effective and successful solution for all parties."
Just this month, Square AM had already announced a 20 million euro deal in Lisbon. The Gago Coutinho 26 building was acquired by the Crédito Agrícola CA Património Crescente real estate fund, for a sum of 19.8 million euros.