Clarion Partners has acquired a retail asset in Malveira, in the municipality of Mafra, Lisbon, from dstrealestate, with Savills Portugal advising the seller on the transaction.
The property, which has approximately 4,385 sqm of gross construction area, was developed by dstrealestate, with construction carried out by DST, S.A. – Engenharia e Construções. The asset is located in an established area within its catchment.
The transaction brings the international investment manager into the Portuguese retail market through an asset offering long-term income, according to the parties involved.
José Galvão, Head of Retail at Savills Portugal, said the asset’s attractiveness and quality had generated interest from international institutional investors seeking stable long-term income. “This transaction underlines that Portugal remains firmly on the radar of global capital for prime assets”, he said.
Avelino Teixeira, board member of dstrealestate, said the transaction demonstrated the group’s ability to develop high-quality real estate assets by combining dstrealestate’s development expertise with the construction capabilities of DST, S.A. – Engenharia e Construções.
For Clarion Partners, the acquisition reflects its continued confidence in food retail as a resilient, income-generating asset class. “The Malveira asset represents an attractive long-term income opportunity. It is a modern and operationally efficient supermarket, leased to Portugal’s largest food retailer under a long-term lease, in a location benefiting from several favourable demographic trends”, said Max Rooney, Director at Clarion Partners.
The value of the transaction and the identity of the retail tenant were not disclosed.
