The portfolio includes 4 buildings located at Avenida da Liberdade and rua Augusta, in Lisbon, leased to brands such as Armani Exchange, Bash and Pinko, besides 4 other assets in Porto, at Santa Catarina street, also 100% occupied by brands like Adidas and Rituals. The 8 buildings have a total combined area of 5.300 sqm
Nikos Koulouras, Private Equity Funds Co-Head of Investments for AEW in Europe, comments that «AEW carried out its first investments in Portugal, which marks an important milestone in its investment strategy for Europe. Portugal has a growing economy, which already surpassed the European average in 2018, with good consumer confidence indicators and a positive occupancy market».
Christina Ofschonka, Fund Manager for European retail at AEW, comments that «this transaction enriches the fund’s portfolio with new high-quality assets which will allow it to keep generating long-term stable returns. We are very happy with “Le Fonds” portfolio’s ability to diversify through our bet in Portugal».
But investment in Portugal will not be restricted to retail, offices are also attractive to AEW. Koulouras adds that «besides retail assets, we are also looking into the office market and well-located offices, following a value-add strategy, because we believe in the Portuguese economy’s continued growth and the foundations of the Lisbon office market».