Commerz Real has sold the retail shopping centre Montijo Retail Park near the Portuguese capital Lisbon to CA Património Crescente, an open-ended real estate fund managed by the Square asset management. The property has been in the portfolio of Commerz Reals’ open-ended real estate fund hausInvest since its completion in 2009. The purchase price was not disclosed.
Located in the town of Montijo, Montijo Retail Park has 17,700m² of retail space as well as 803 car parking spaces. The main tenants in the fully-leased building are the home furnishings retailer Conforama, the DIY and gardening products retailer Leroy Merlin, both of which have their head offices in France, the British sports good retailer Sports Direct, and the Portuguese furniture retailer Espaco Casa.