The only commercial transaction registered in the Greater Porto area during the first three months of the year not only "saved" the quarter, but it also placed it on the investment podium when compared to the previous 4 quarters.
The sale of 50% of NorteShopping by Sonae Sierra and APG to Allianz and Elo for, according to estimates by Iberian Property, around 85 million euro, was only one of the 6 assets traded in a 525 million euro operation which also included the sale of 50% of shopping centre Colombo, 50% of Vasco da Gama, 100% of Cascais Shopping and 2 shopping centres in Spain: 100% of Plaza Mayor and 50% of McArthurGlen Designer Outlet Malaga.
This investment represents a 25% increase of when compared to the previous quarter, when only two operations took place: the purchase of Edifício Urbo building by Fidelidade Real Estate Management for 49 million euro and the acquisition of office building D.Manuel II by NIPA Capital for around 19.5 million euro. This amount is 5 times higher yoy, revealed the Porto Report from Iberian Property.
The retail and office segments represented the largest shares of investment in Porto during the last 4 quarters – 50.5% and 41.4% respectively. The alternative assets represented 3,6%, hotels 2.6% and logistic only 1.9%.
Insurance companies and pension funds had represented almost one third of last year’s aggregate investment followed by asset managers and investment funds and private equities, which represented more than one quarter each. REITs only represented 6% and 9% of investment was carried out by unknown investors.
All the information is available at the Porto Report from Iberian Property which can be downloaded HERE.
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Disclaimer: This information is based on public data gathered within the platform Iberian Property Data. All estimates were calculated based on registered public information and data from the main consultants within the market. It should be noted that the results presented here may be updated if new information is issued.