Commercial Real Estate News - Europe

29/10/2021

Tristan invests in Italian logistics portfolio

Deal value: €700m ($815m)

Deal status: The deal is now closed.

About the asset:

Curzon Capital Partners 5 Long-Life (CCP 5 LL), the core-plus fund advised by Tristan Capital Partners, has grown its logistics allocation to more than €700m. Its latest acquisition is a c. 150,000m² GLA portfolio of five assets located mainly in Emilia Romagna, Northern Italy from Coop Adriatica and Coop Alleanza.

Thibault Ancely, Managing Director at Tristan Capital Partners, said: “This transaction with a c. 15-year WAULT is complementary to our Italian logistics strategy, notably in terms of tenant diversification in the grocery sector. We have grown our logistics allocation to more than €700m and will continue to grow our portfolio of well-located logistics assets and are assessing a number of opportunities in the market.”

Giulio Bentivoglio, Partner at Kervis, added: “This acquisition alongside the Tristan fund is testament to the quality of the relationships with the team and we look forward to capitalising on the partnership we are building together with such a renowned operator as Coop Alleanza 3.0.”

Sale and leasebacks have been agreed for four of the properties; the final asset located in the heart of Bologna Interporto is let to third parties. Kervis Asset Management, a real estate consulting firm and established asset manager in Italy will act as the operating partner for CCP 5 LL.

Coop Alleanza 3.0 is the largest Italian consumers’ cooperative by the number of stores (over 400), members (over 2.3 million) and turnover (€4.4bn in 2020). The properties represent the backbone of Coop Alleanza 3.0’s food distribution network by acting as the delivery and sorting point for grocery goods from suppliers, which serve almost 300 grocery stores/points of sale daily. The portfolio GLA breaks down into circa 25% of dry storage and 75% of cold storage.

Tristan Capital Partners is an independent London-headquartered real estate investment management boutique that is regarded as one of the leaders in the European marketplace. Across eight locations, 140 staff combine continuity and experience with judgment and a reputation for ex*****on and delivering to their clients.

Their core team has worked together for 20 years across ten value-added funds with investments totalling €19 billion while their staff has over €25 billion of collective European investment and asset portfolio management experience. Together, they have built a reputation for returning capital and profits to clients throughout several market cycles. They currently manage around €11.4bn of client assets.

Deal publication date: 29/10/2021

Curzon Capital Partners 5 Long-Life (CCP 5 LL), the core-plus fund advised by Tristan Capital Partners, has grown its logistics allocation to more than €700m. I

29/10/2021

BNP Paribas REIM acquires logistics scheme in Nijmegen (NL)

Deal value: Undisclosed

Deal status: The deal is now closed.

About the asset:

BNP Paribas REIM has acquired Pharma Campus scheme leased to DHL Supply Chain (DHL), for its European Impact Property Fund (EIPF), which was launched end of 2020.

“The Pharma Campus, located in one of the logistics hotspot of the Netherlands, is EIPF’s first investment in the Dutch market, an attractive location for real estate investment because of its strong economy and central location in Northern Europe. Looking ahead, BNP Paribas REIM intends to increase its Dutch investment in the healthcare, logistics, residential and office sectors in 2022,” said Isabella Chacón Troidl, Chief Investment Officer and member of the management board of at BNP Paribas REIM Germany.

“Our European Impact Property Fund highlights our dedication to climate protection in the real estate sector. Our ambition is to fight climate change and make a positive and measurable impact on our environment. This acquisition is a new milestone for EIPF as it combines portfolio diversification with one of the most sought after asset type of the post-Covid era and climate ambition, implementing a real partnership with DHL Supply Chain to reduce GHG emission and achieve a BREEAM in Use Very Good certification”, commented Laurent Ternisien, Chief Client Officer of BNP Paribas REIM and CEO of BNP Paribas REIM Luxembourg.

The Pharma Campus is situated in the Bjsterhuizen business park in Nijmegen, in the Netherlands, which offers it excellent access to several main European motorways. The modern logistics centre features a total area of just below 35,000m² including roughly 31,000m² of warehouse space and 1,000m² of office space. The property, built in 1997 and modernized and expanded in 2000.

BNP Paribas Real Estate Investment Management (BNP Paribas REIM) manages more than €28.9B of European commercial real estate. This makes them one of the market’s most significant players. Their expertise spans the entire life cycle of a commercial property investment.

For more than half a century BNP Paribas REIM has provided opportunities to invest in unlisted real estate in Europe. To date, approximately 220 international institutional investors and some 140,000 private individuals have entrusted them to invest on their behalf. They completed €4B of transactions in 2020.

They are European in their investment focus and governance, with a presence in eight countries: France, Germany, Italy, the United Kingdom, Spain, Belgium, Netherlands and Luxembourg. This gives them a deep knowledge of Europe’s diverse markets and the expertise to manage real estate investments of varying scale and complexity.

BNP Paribas Real Estate Investment Management (BNP Paribas REIM) employs more than 330 professionals, covering seven countries. BNP Paribas REIM’s local asset management teams are responsible for more than 1,200 buildings in 17 countries.

BNP Paribas REIM is the business line dedicated to Investment Management within BNP Paribas Real Estate consisting of various legal entities: France: BNP Paribas Real Estate Investment Management (SA); Italy: BNP Paribas Real Estate Investment Management Italy (SGR); Germany: BNP Paribas Real Estate Investment Management Germany (GmbH); UK: BNP Paribas Real Estate Investment Management UK (Limited); Luxembourg: BNP Paribas Real Estate Investment Management Luxembourg S.A. The respective legal entities responsible for offering clients products or services are named in the respective product documentation, contracts and information material.

BNP Paribas Real Estate Investment Management Italy Societa' Di Gestione Del Ris operates as a real estate investment management company. The Company specializes in setting up and managing diversified and specialized, as well as closed and semi-open funds. BNP Paribas Real Estate Investment Management serves retail and institutional investors in Italy.

Deal publication date: 29/10/2021

BNP Paribas REIM has acquired a Pharma Campus leased to DHL Supply Chain (DHL), for its European Impact Property Fund (EIPF), which was launched end of 2020. Th

29/10/2021

QUEST Investment Partners acquire Munich office building (DE)

Deal value: Undisclosed

Deal status: The deal is now closed.

About the asset:

QUEST Investment Partners has acquired an office and commercial building with around 3,400m² of rental space on one of Munich's most popular boulevards. The property at Leopoldstraße 7 in Munich was sold as part of an asset deal. The seller is Catella Real Estate AG, acting on behalf of the open-ended real estate fund Catella MAX. The parties agreed not to disclose the purchase price.

"We are delighted to have acquired this trophy asset with a view of the Siegestor gate in the fashionable Schwabing district. The property allows for a complete redevelopment, including the addition of new storeys and the redesign of the façade. With our refurbishment, we will once again demonstrate how we can carry buildings into the future with innovative concepts", said Jan Rouven Künzel, Managing Partner at QUEST Investment Partners.

The property was built in 1982 and is located on the border of the districts of Maxvorstadt and Schwabing. On the ground floor, it accommodates the Italian restaurant Bar Giornale. The asset has been marked for redevelopment and will add about 4,000m².

The design project by Allmann Sattler Wappner envisages the dismantling of the current roof and storage floors of the detached corner building and the construction of two new stacked floors with flat roofs and terrace areas on the 5th and 6th floors.

Founded in 2016, QUEST Investment Partners is an investment and project development company with offices in Hamburg, Berlin, Munich and Frankfurt. QUEST focuses on investments in commercial properties with upside potential in top locations of major German cities and the Benelux countries. The team has extensive experience in the development of high-quality real estate projects.

QUEST Funds is in charge of the fund business of the real estate company and makes individual investments in cooperation with institutional investors. The shareholders of QUEST Investment Partners are the managing directors Theja Geyer and Jan Rouven Künzel as well as the investment holding company of the Hamburg entrepreneur Erck Rickmers.

Catella Asset Management Germany is an independent and entrepreneurial asset management division of Catella Group with some EUR 350 million assets under management in Northern Europe.

Catella deals with all phases of the value creation process in property, from analysis and acquisition, to financing strategic management, and finally, exit. investments are on assignment from financial institutions, pension managers, property funds and other property ownes. Operations are conducted in the Baltics, Denmark, Finland, France, Luxembourg, Norway, Span and Germany.

Deal publication date: 29/10/2021

QUEST Investment Partners has acquired an office and commercial building with around 3,400m² of rental space on one of Munich's most popular boulevards. The pro

28/10/2021

Square AM debuts in Spain with a purchase of €20M

Deal value: €20m ($23.4m)

Deal status: The deal is now closed.

About the asset:

The Portuguese management company makes its debut in Spain with the purchase of a set of assets, mostly located in Andalusia and in the Greater Madrid area. Square Asset Management has just closed the acquisition of a portfolio of 10 Carrefour supermarkets in Spain, worth around 20 million euros.

This is the manager's first major purchase in the neighboring country, advanced by Pedro Coelho, Vice President of Square AM, to Iberian Property.

Pedro Coelho explains that Square's objective with this operation is to «diversify investments, keeping our DNA of good tenant risk, contract term as long as possible, and trying to have a good entry yield, good price per square meter, and not forgetting location» . He points out that “in Spain, when commercial properties have VAT on the transaction, they do not pay transfer tax. Therefore, it is not for the fiscal part that one cannot invest in Spain». He believes that «we managed to fulfill everything we wanted in our “check-list”».

Pedro Coelho further stated that «we are always open to opportunities and to make proposals. We are always looking for new opportunities in all sectors, apart from residential just because residential gives us lower income. We always want to have a diversified portfolio in everything: geographies, activities, sectors», he concludes.

The supermarkets add up to a total of almost 15,000 sqm, and they were on the hands of the Supersol brand, who placed these 10 properties up for sale. 7 of them are located in the Andalucía region, in cities such as Cádiz, Marbella, Mijas, Jerez de la Frontera, among others. The other 3 are located in the Greater Madrid area.

Of this set, 8 properties will be held by the open-end fund CA Património Crescente, managed by Square AM. The other two will be in the Property Core portfolio, the fund managed in Banco Best's network.

The supermarkets have a 7-year contract with Carrefour. The operation recorded a yield above 7%.

Square Asset Management is the leading independent and one of the largest Real Estate Asset Management and Consulting Group in Portugal. With 16 years of success, it's the leading independent management company to manage Open-ended Real Estate Investment Funds and the first subcontracted by large Portuguese financial institutions. The experience allowed to achieve 11,5% of market share and 1,4 bn euros of assets under management (AUM managed by Square Asset Management SGOIC & Square Asset Management II Consulting).

Considered by Euromoney as the “Best Investment Manager” in 2020. 10 Times Winner of the MSCI, European Property Investment Awards (2011-2020), Square Asset Management is specialized in 3 different areas: Income Funds, Distressed Asset Funds and other vehicles like Strategic Consultancy.

Deal publication date: 28/10/2021

https://www.iberian.property/news/retail/square-am-debuts-in-spain-with-a-purchase-of-eur20m/

28/10/2021

Sonae Sierra invests in German retail portfolio

Deal value: Undisclosed

Deal status: The deal is now closed.

About the asset:

The new Sierra German Food Retail Income Fund I made its debut with the acquisition of 5 food retail properties, covering a total area of approximately 6,500m² GLA, operated by renowned German brands such as Aldi, Rewe and Netto.

Christoph Billwiller, who leads Sonae Sierra’s investment management team in Germany, commented: “The creation of this new open AIF represents a new landmark for Sonae Sierra in Germany and offers a solution for professional and institutional investors, looking for stable long-term income, managed by an experienced team with combined asset management and investment management know-how. It is part of Sonae Sierra’s strategy to increase our exposure to new real estate investment vehicles, capitalizing on our international experience and on the track record we have built with multiple institutional investors over the last 30 years.”

This follows Sonae Sierra launch of a new open-ended AIF in Germany, which invests primarily in the food retail sector in Germany and targets institutional investors. With a focus on discounters and supermarkets as well as on hypermarkets across Germany, preferably stable stand-alone properties, characterized by long-term leases with recognized and high-quality operators, the fund has a target investment volume of at least €200m.

Sonae Sierra is an international retail real estate company dedicated to developing and servicing vibrant retail-centred properties. They develop and invest in sustainable retail assets and provide investment, development and property management services for clients in geographies as diverse as Europe, South America, North Africa and Asia, while creating shared value for their business and society.

Sonae Sierra operates from corporate offices located in more than 10 locations providing services to clients in geographies as diverse as Europe, South America, North Africa and Asia.

Incorporated in Portugal in 1989, Sonae Sierra is owned by Sonae, SGPS (Portugal) with 70% and Grosvenor (United Kingdom) with 30%. Sonae Sierra is an owner of 29 Shopping Centres with a total GLA of 1.35 Million m2 and an OMV of about 7 billion euros.

Deal publication date: 28/10/2021

The new Sierra German Food Retail Income Fund I made its debut with the acquisition of 5 food retail properties, covering a total area of approximately 6,500m²

27/10/2021

Momentum buys land next to the future Valdebebas

Deal value: €21.9m ($25.4m)

Deal status: The deal is now in process.

About the asset:

Momentum Real Estate has bought a tertiary land of more than 17,000 sqm in the Valdebebas area, in the northeast of Madrid, for almost 21.9 million euros, as reported on Tuesday by the Valdebebas compensation board, which has approved in its ordinary general assembly the sale of the land.

The Ter.02-166B plot is located next to the future commercial center of Valdebebas and has a total area of 17,165 sqm and a buildable area of 36,448 sqm. Its main use is for offices or accommodation, but it has other alternative uses, such as educational, health, cultural, religious or sports.

Specifically, the price of the operation has been set at 21.87 million euros and the payment will be made in two parts: on the one hand, 20% of the amount will be advanced in the deed of the purchase option, which will have to be done before next December 31; on the other, the remaining 80% will be paid at the time of the exercise of the purchase option, which will have to be before July 31 of next year.

According to market sources, Momentum will build, hand in hand with a fund, a complex of ‘serviced apartments’ on this ground.

Momentum Real Estate is a full-service real estate brokerage based out of Tampa, Florida and serving the entire state of Florida. They provide the latest tools to help their agents help their buyers and sellers throughout the entire process. They believe that a real estate brokerage exists to support its agents, not the other way around. They are a true 100% commission brokerage, freeing their agents to utilize their money the way they see fit, not the other way around.

Deal publication date: 27/10/2021

https://www.iberian.property/news/residential/momentum-buys-land-next-to-the-future-valdebebas-shopping-center/

27/10/2021

Optylonkrea and Stag buy terminal k building in Lisbon

Deal value: Undisclosed

Deal status: The deal is now closed.

About the asset:

OptylonKrea, a real estate development and investment management company, and Stag Fund Management, have announced this Tuesday the acquisition of the Terminal K building, located in the Alfama area, in Lisbon, from Cerberus Capital Management.

William Tonnard, President and COO of Optylon Krea, comments in a statement: “We are extremely pleased with the conclusion of this contract, which I believe will be a strong addition to the OptylonKrea portfolio and our growing brand of Prima Collection residential units. With the building's excellent location, a few meters from the newly built cruise terminal, together with the promising recovery of tourist activity in Portugal in 2022, we felt that the time was ideal for this acquisition».

Tonnard adds that «with this structuring project, we intend to improve the hotel offer and raise the quality of service in the city, while at the same time bringing new life to this area rich in history».

With 7,000 sqm, the 19th century will be fully rehabilitated and transformed into an aparthotel of the brand of residential units of OptylonKrea, the Prima Collection, materializing the sixth unit of this brand, which follows its goal of expansion to 25 new locations in the next 5 years.

The architectural project will be signed by Saraiva & Associados, and will create 74 residential units with access to an interior patio and an exclusive rooftop swimming pool, overlooking the Tagus. The development will also have a retail area of 1,000 sqm on the ground floor, also acquired by NEXT Capital Fund, managed by Stag Fund Management.

This is OptylonKrea's 13th deal in Portugal, which confirms the group's confidence in the Portuguese property market and its optimism regarding the post-pandemic economic recovery.

OptylonKrea is a Pan-Mediterranean real estate development and investment management company with an international team. Their track record of €1.7 Billion investments that took place in Portugal, Turkey and Romania create a solid working experience for them to cater to the needs of institutional investors (Merrill Lynch – Bank of America, GIC Singapore Investment Authority, Yapı Kredi Koray REIT) as well as family offices and HNWI's. The current GDV of €400 Million in Portugal reached through the acquisition and development of mix used prime assets is a testament to their growth potential.

STAG Fund Management is a management company of Private Equity and Venture Capital Fund Manager, based in Lisbon (Portugal), and specializing in managing investments in Portuguese companies. STAG was founded in 2020, at the time of the Covid 19 worldwide pandemic, a challenging time but also an appropriate time to look at new opportunities with fresh eyes.

STAG focuses on investing private equity, from countries across the world, into Portuguese companies. STAG´s team of professionals have over 30 years combined experience in dealing with private equity, corporate restructuring and corporate finance. The objective is always to optimise each project and help ensure that each one realizes its full potential.

Deal publication date: 27/10/2021

https://www.iberian.property/news/hotels/optylonkrea-and-stag-buy-terminal-k-building-in-lisbon/

27/10/2021

SEGRO makes Stratford acquisition

Deal value: Undisclosed

Deal status: The deal is now closed.

About the asset:

SEGRO has taken a step forward in the delivery of its growth ambitions in inner London markets with the acquisition of a 1.7-acre site in Stratford, East London.

The site has been purchased off-market from a private seller for an undisclosed fee and will be transformed into 45,000 sq ft of modern, highly sustainable warehousing.

Alan Holland, Managing Director, Greater London, SEGRO, says: “This off-market acquisition is in line with our strategy to build scale and a customer offering in ultra-urban locations in Greater London which offer substantial long term growth prospects.

“We know there is significant demand for urban warehousing close to large population centres. SEGRO Park Stratford will not only provide sustainable space that helps enable a low-carbon ecosystem for the delivery of goods and services to a large number of people, it will bring further important employment opportunities to this vibrant part of the capital.”

To be known as SEGRO Park Stratford, the ultra-urban site is located on the Fish Island industrial estate and benefits from direct access to the A12 junction. It sits within Zone 2, close to the residential district of Hackney Wick which has undergone significant regeneration since the London 2012 Olympic games. The long-term demographics will create significant demand for goods and services within the immediate vicinity of the site, as well as Canary Wharf which is just two miles away.

SEGRO plc (formerly known as Slough Estates Group) is a British property investment and development company. It develops and invests in property located in the UK and Continental Europe focusing on edge of town flexible business space. The firm switched to Real Estate Investment Trust status when REITs were introduced in the United Kingdom in January 2007.

The company is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index. It is the largest industrial property company in Europe and is the owner of the Slough Trading Estate - the largest trading estate under single ownership in Europe.

SEGRO owns commercial and industrial properties in the UK, France, Czech Republic, Poland, Italy, the Netherlands, Belgium, Spain and Germany. The company's portfolio (including joint venture assets) was valued at £12.2 billion at 31 December 2020.
Deal publication date: 27/10/2021

https://www.propertyfundsworld.com/2021/10/27/308335/segro-makes-stratford-acquisition

27/10/2021

Charles Irvine completes final sale of Transmec UK warehouses

Deal value: £9m (€10.6m = $12m)

Deal status: The deal is now closed.

About the asset:

Boutique real estate capital advisory and investment business, Charles Irvine, has arranged the sale of the Transmec warehouse in Crossgate, Redditch on behalf of Transmec UK Ltd for GBP9 million.

Douglas Babington Smith, Co-founder and Partner of Charles Irvine, says: “The sale of the Redditch warehouse will complete the disposals strategy for Transmec UK Ltd and allows the team to focus on expanding its fast-growing business in the UK. Our long-term relationship with our client means we can support them at every stage of the project lifecycle and ensure that all transactions achieve their short and long- term ambitions.”

The 117,000 sq ft warehouse, located on Park Farm Industrial Estate, was sold to a sector specialist fund; Transmec will remain in the property on a long-term lease.

The transaction is part of a disposals programme Charles Irvine has undertaken on behalf of its client, and is the third and final sale in two years following Transmec’s property sales in Bradford and West Thurrock.

Transmec is a privately owned, Italian third-party logistics company with hubs across Europe, America and Asia. As a long-term advisor to Transmec and with a specialism in advising Italian businesses in the UK on complex real estate transactions, Charles Irvine’s role will be to continue to provide strategic property advice to its client in the UK. Since January last year, the team has supported its client and other Italian connections in navigating the implications of Brexit, which has brought additional challenges to cross-border transactions especially in deal structuring.

Charles Irvine is a boutique advisor specializing in real estate investment and financing. Through their group businesses, Charles Irvine Limited and Charles Irvine Real Estate Limited, they focus on providing debt and equity capital solutions to sophisticated participants in real estate markets in the UK, Germany, Italy and other European markets. They act for both controllers of assets (developers, investors, asset managers, and property companies) and for sources of capital by making introductions which crystallize real estate related transactions. They offer strategic asset management advice on specific asset selected portfolio acquisitions. They also provide discrete consultancy services on corporate development activities as well as project management solutions regarding public and private capital market transactions.

With more than 160 years’ experience, Transmec Group is one of the leading transport and logistics companies with a consolidated worldwide network that offers customers high-quality, added-value services that are tailored to meet their business needs. Transmec Group’s success is based on the wide range of services we offer by road, rail, sea and air, the use of the latest technology and our global network. Today is driven by Danilo and Massimo Montecchi, has 17 companies in as many countries (6 in Italy, 7 elsewhere in Europe, 3 in the Americas, 2 in the Middle East – Turkey and Iran - and 1 in Asia) and 3 joint ventures with DB Group in Germany, Spain and Russia, with a total of 39 offices.

Deal publication date: 27/10/2021

https://www.propertyfundsworld.com/2021/10/27/308344/charles-irvine-completes-final-sale-transmec-uk-warehouses

27/10/2021

Crossbay acquires multi-storey urban logistics asset in Saint Denis

Deal value: Undisclosed

Deal status: The deal is now closed.

About the asset:

Crossbay, a pan-European urban logistics platform targetting single-user distribution centres, has acquired a multi-storey urban logistics asset in Saint Denis, near Paris for an undisclosed sum in an off-market transaction. The vendor is a private family office.

Louis Radiguet, managing director of Crossbay France, says: “This acquisition, along with the secure pipeline, will allow us to exceed our objective of EUR100 million in acquisitions for the year 2021.

“The site presents all the fundamentals of urban logistics, in terms of its location and its technical characteristics. It also has a strong potential for short-term value creation for the Crossbay fund, perfectly matching the type of asset we are looking for.”

The 7,500 sq m asset, located a few kilometers from Paris, features 3,500 sq m of ground floor space, with platforms for heavy goods vehicles and light vehicles, as well as single-level doors on three sides. The rest of the site is divided into cells of approximately 500 sq m on the upper floors, with access to the quays.

The acquisition of the Saint Denis site builds on Crossbay’s growing footprint in France, with their 20 assets at an overall value of around EUR180 million.

The platform has invested more than EUR100 million in France this year, with the aim to target EUR500 million in assets under management within the next two years.

Launched by MARK in May 2020, Crossbay is a new pan-European last-mile logistics platform and the first to be specifically targeting single tenant distribution centres near 'gateway cities' across Europe. The platform will allow institutional investors such as pension funds and insurance companies to gain exposure to a rapidly growing sub-sector that is supported by long-term growth drivers and structural shifts in the economy.

Crossbay has its own corporate structure and is led by Marco Riva, who oversaw over €2bn of deals while at Logicor, Blackstone's 'big box' warehousing business.

Deal publication date: 27/10/2021

https://www.propertyfundsworld.com/2021/10/27/308310/crossbay-acquires-multi-storey-urban-logistics-asset-saint-denis

27/10/2021

Portuguese investors purchased the Sumol+Compal building in Faro

Deal value: Undisclosed

Deal status: The deal is now in process.

About the asset:

Group Rolear and Metalofarense created a joint venture to acquire the Sumol+Compal building in Faro.

Sumol+Compal «is happy to sell this building to two prestigious companies from the Algarve and it acknowledges Savills’ professionalism in identifying and developing the contacts which made this transaction possible», mentioned Amélia Eusébio, administrator at Sumol+Compal, in a release.

Parreira Afonso, administrator at Rolear, pointed out that «Rolear’s wide offer of products and services, from energy supply, to construction, water and sanitation facilities, as well as its wide national scope, led to the search for a qualified logistic solution which met all the different needs: large, noticeable, well located, near the headquarters and with good access. To these requirements, the building added the fact that it is an iconic building and a symbol of Algarve’s industrial production». He concluded by saying that «this is one more step towards the growth of our activity, following the development and progress of the Algarve Region».

This deal was advised by Savills Portugal. Luís Rocha, Industrial & Logistics Consultant at the company, highlighted the same: «we are happy to advise prestigious brands, such as Sumol+Compal, on how to implement their real estate strategies, which, in this case, allowed us to market a real estate asset, that was once vital for their business and which will now have a renewed and important role to play in Metalofarense’s and Grupo Rolear’s growth strategies».

«This level of service and commitment towards our clients is only possible thanks to the tremendous know-how Savills’ teams have of the real estate market and its different segments, as well as their proximity to the main operators and investors active in our market», he concluded.

The building is located on the EN 125, near Fórum Algarve, and it is constituted by a main block, with an office area, technical areas and manufacturing and logistic support areas, for a total of 7.753 sqm in warehouses, 2.200 sqm in offices and a 10.474 sqm patio.

The building stopped its manufacturing activity in 1995, and it has been used as a regional storage and distribution centre for the brand’s drinks.

Founded in 1979, with headquarters in the Algarve, the Rolear Group has been asserting itself as a reference in this region and has progressively conquered the rest of the country by automation for hydraulic oil, electricity and compressed air systems. The Rolear Group has a unique offer of solutions ranging from the supply of products and equipment, to the distribution of piped gas, commercialization of natural gas and electricity, including civil construction, infrastructure and landscaping, special technical installations, maintenance, technical support and training.The Rolear Group has a team of around 250 professionals.

Metalofarense is an iron company, founded in 1958. After starting its activity with steel products – and still today the concrete rod is its main product. The company expanded its offer, following the evolution and needs of its customers, currently selling products for construction, metalwork, plumbing and sanitary and finishes.
Based in Faro, Metalofarense is a reference in the south of the country, having been present in major projects, such as Via do Infante, Hospital do Barlavento, A2 motorway, Estadio do Algarve, among others.

Deal publication date: 27/10/2021

The transaction was followed by Savills Portugal.