The Paris-based firm Iroko has acquired its first asset in Portugal, a 4,698-sqm industrial complex, situated in the Casal da Areia industrial estate in Alcobaça, Leiria. Iroko Iberia advised on the transaction.
The transaction was structured as a sale and leaseback with Imtec Plastics, a company within the Imtec Group specialising in the manufacture of technical moulds. The lease agreement will run for 30 years, and the purchase involved an outlay of €2.7 million, resulting in a yield of 8.45%.
The property, built in 2022, is situated in a strategic location in central Portugal, connected to the A8 motorway, and offers direct road links to Lisbon and Porto.
“We have been carefully looking for our first acquisition in Portugal for quite some time, and we are very pleased with the result. The combination of a high-quality 2022-built asset, a well-established tenant like IMTEC, and a location embedded in a thriving industrial cluster made this the right deal to open our Portuguese portfolio”, stated Oscar Duclert, CEO of Iroko Iberia.
Recently, in addition to its move into Portugal, the company has acquired an office complex, formerly occupied by Konecta, in Alcobendas, Madrid, and also acquired an office complex in Sant Cugat del Vallès, Barcelona, from BentallGreenOak.
