MCore, the family office belonging to the JJ Matriz Capital group, and asset manager Hermes Properties have formed a new investment company focused on the commercial real estate market in the Iberian Peninsula. The agreement envisages an investment of up to EUR 500 million over a five-year horizon, with a focus on retail parks and assets for food operators such as Aldi and Lidl.
This joint venture, which Catella has advised on the creation of, aims to identify opportunities in established locations, both for the development of new projects and for the acquisition of existing properties that can be repositioned. The alliance combines the investment muscle of M Core with the operational and management expertise of Hermes Properties to address a changing market where demand for everyday consumer formats remains strong.
The two companies have previously collaborated on transactions in the Iberian market. With this new partnership, they reinforce their presence in a niche that has shown a positive evolution in recent years, especially in contexts of macroeconomic uncertainty, such as convenience and food retail.
The strategy envisages a long-term approach to asset management, prioritising the stability of the flow of income, the adaptability of the spaces and links with consolidated operators. In parallel, the plan envisages both the promotion of new developments and the regeneration of urban environments through the reactivation of disused retail spaces.
The operation comes at a time of renewed interest from private and institutional investors in resilient retail formats, driven by proximity, functional diversification and their ability to adapt to changing consumer habits.
