French Sogenial acquires Lima Retail Park for €10M

French Sogenial acquires Lima Retail Park for €10M
Lima Retail Park

The Belgians of Mitiska REIM have just closed the sale of Lima Retail Park, in Ponte de Lima, Viana do Castelo, to the French real estate fund manager Sogenial. The transaction was closed for around 10 million euros, according to information provided by idealista/news.

With more than 10,700 square meters of building area and parking for more than 400 vehicles, Lima Retail Park has 12 commercial units with an occupancy rate of 98% and is made up of Maxmat, Sports Direct and Hôma stores, with a total of 11 tenants.

In the transaction, Sogenial, representing a pan-European fund, was advised by pbbr and New Cycle, while Mitiska REIM was advised on the sale by Colliers Portugal and RRP Advogados.

It should be remembered that the French real estate fund manager landed in Portugal in December last year, with the purchase of Évora Retail Park, this being the investor's third acquisition in the country. Also in December 2023, the Belgian fund closed the sale of 5 retail parks in Portugal.

Francisco Seabra Ferreira, head of real estate for Serris REIM in Portugal, who led the negotiations for Sogenial in the purchase of Lima Retail Park, considers it to be a retail park in a very dynamic location, with high demanda stabilized asset, with a tenant attractive mix, first-rate occupiers of high solidity, and brands that are market leaders in the segments in which they operate

For his part, Pedro Valente, Managing Director of Colliers Portugal, stresses that this is a retail format that is highly resilient and therefore has a very interesting number of visitors and sales. By this I mean that the mistrust and fear that existed that retail would suffer greatly in this specific format has not been verified, quite the opposite.

The real estate specialist estimates that there will be several transactions taking place in this way over the course of the year, as they present very interesting returns.

Iberian Property logoIberinmo logo
Iberian Property is the best platform for investment in Spain & Portugal. Created for those who seek reliable information about players and deals happening in Iberia. Through updated database, reports, market indicators and daily news, we report “Who’s Who” in Iberian Real Estate!. Iberian Property is also proud to organize the most important international real estate investors’ meeting in Iberia - Portugal Real Estate Summit!