According to a statement sent to The Portugal News: “The property is the leading retail park in Portugal and part of the largest retail hub in the immediate vicinity of Lisbon. AM ALPHA is acquiring the retail park as the lead investor in a joint venture with several European family offices. The seller is Ceetrus, a global property company from the French Auchan holding company.
“The property is part of the most important and largest retail hub in the Lisbon metropolitan area. The so-called Sintra zone has a total of 130,000 square metres of modern retail space. Completed in 2000, the retail park benefits from its prime location on the A37 motorway, which is easily accessible from all directions. Around 580,000 people live in a catchment area within 15 minutes. The property is fully let to 15 high-profile tenants, including consumer electronics stores (such as Media Markt, Rádio Popular), interior design shops (such as Casa or Hôma) and gastronomic outlets (such as McDonald’s or Pizza Hut).
“Shopping in Portugal mainly takes place on the outskirts of cities, as retail in the city centre has been restricted for many years. As a result, large and attractive retail parks have developed on the outskirts of the cities, offering a unique shopping experience. They offer a diverse mix of tenants, innovative leisure and entertainment facilities, and free parking, making shopping more pleasant and convenient,” says Rafael Macia, Head of Iberia at AM ALPHA.
“Portuguese retail parks – in the right location and with the right concept – are therefore a very attractive asset class. We recognised this early and acquired the BPlanet retail park south of Lisbon in 2019.”
AM ALPHA has continuously expanded its portfolio in Portugal in recent years. In addition to retail parks, several office buildings have been acquired in Lisbon and Porto in recent years. “As an independent family office, AM ALPHA can invest anti-cyclically. With our extensive investment experience and on-site expertise, we can achieve above-average returns, especially in a challenging market environment,” explains Rafael Macia. “Within Europe, the Iberian Peninsula will remain one of our investment focus areas. We continue to see substantial potential for outstanding investment opportunities in Portugal.”