Savills News

Savills advises Norfin on the sale of two logistics assets in Portugal to Bedrock Capital and Europi Property Group

Savills has advised Portuguese asset manager Norfin, SGOIC on the disposal of two logistics assets totaling over 35,000 sqm, that were previously owned by Iberia FEIF. 

One asset is located in Cartaxo, in the district of Santarem, and is fully occupied by a tenant from the Sonae Group. The other asset, located in Quinta do Adarse, in Alverca do Ribatejo, is also fully occupied by a blue chip tenant.

The assets were jointly acquired by real estate asset management firm, Bedrock Capital, and international investor Europi Property Group (EPG), for an undisclosed amount.

According to Savills research, the industrial & logistics sector is rapidly expanding throughout Europe, boosted by the growth of ecommerce. 

Alberto Henriques, Associate Director, Capital Markets, Savills Portugal, states, “We are extremely proud to have been able to advise Norfin on these transactions, and collaborate with Bedrock Capital and Europi Property Group on making their debut entry into our country’s logistics sector.”

“These assets are located in well-established logistics hubs and will benefit from growing occupier demand and the upward trajectory of rent values.”

“Over the past four years Norfin has worked to improve the quality of service that we offer to our tenants, in renovating and improving our buildings. As such, we have hugely enhanced the market value of these assets and maximized the return for our investors," explains Daniel Lopes, Manager at Norfin.

João Tenreiro Gonçalves, Executive Partner at Bedrock Capital, adds, “We are very pleased with the acquisition of these two assets, the first transaction with our partner Europi Property Group. We are optimistic about the future of the Portuguese logistics segment, which has been registering an increased demand from operators, and these two warehouses are located in two of Lisbon’s main logistics hubs.”

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