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Castellana Properties plans entering the Portuguese market
09 July 2019 | Vanessa Sousa

Spanish REIT specialised in retail Castellana Properties is considering operating in the Portuguese market.

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«We need to find an operation that is interesting to enter the market», reveals the REIT’s CEO Alfonso Brunet in an interview to Spanish newspaper Eje Prime. Until a business opportunity comes up in Portugal, «we are focused in Spain, but with an eye out for Portugal», adds Alfonso Brunet.

The company – which entered the Mercado Alternativo Bursátil last July – already invested around 916 million euro last year in Spain, according to the same newspaper. Castellana also found several opportunities to invest 584 million euro in Spain for the next three years, particularly in assets located in secondary areas which offer «stable, increasing and predictable revenues», reveals the company’s CEO. If the growth plan is followed through, the company should reach a total of 1.500 million euro invested.

Besides expanding abroad, Castellana is also considering the possibility of diversifying its current portfolio – which includes 15 shopping centres and retail parks and 2 office buildings –, investing in logistic assets.