Värde plans to use the platform to invest in Portugal and build its position in the local real estate market. Rental growth combined with low vacancy rates and a shortage of supply, especially for quality office space, has led to a supply-demand imbalance in the Lisbon office space market and contributed to a favorable investment environment.
The acquired real estate portfolio includes business parks, office space and commercial land plot assets in greater Lisbon, and has a gross asset value of €186.6 million.
“This is the beginning of an exciting chapter for Imopólis. Värde will be a tremendous partner, providing capital and technical capabilities to enhance and expand our portfolio in Lisbon and the surrounding areas,” said Ricardo Valente, CEO of Imopólis. “Importantly, we remain committed to excellence and to providing innovative and tailored solutions to our clients.”
“Working with Ricardo and his highly experienced team, we will execute a strategy to access opportunities created by Portugal’s promising economic recovery and growth. Värde is an active investor in Southern European real estate and this strategic investment in Portugal is consistent with our local, country-specific approach,” said Francisco Milone, Partner and Head of European Real Estate at Värde Partners.
Värde invests in real estate assets, loans and operating companies globally. This investment in Imopólis expands Värde’s strong presence in Europe, particularly in Iberia.
Source: Värde