AM ALPHA has completed the sale of BPlanet, a premier retail park in Barreiro, part of Greater Lisbon's southern metropolitan area. The asset is acquired by Redevco. The parties have agreed not to disclose the purchase price.
Acquired by AM ALPHA in early 2019, BPlanet encompasses more than 35,000m2 of lettable space and boasts a diverse tenant mix, including national and international retail leaders across sectors such as hypermarkets, DIY, homewares, electronics, sports, and health, complemented by a vibrant food court. The retail park benefits from its strategic position near the intersection of the A2 and A33 motorways, with the N10 roadway and Coina railway station—serving approximately 10,000 commuters daily—further enhancing accessibility. This prime location provides a catchment area of around 200,000 residents within a 20-minute drive.
"This project's conclusion is a notable achievement, reflecting thoughtful planning and execution," said Rafael Macia, Head of Iberia of AM ALPHA. "By constant proactive asset management, we navigated the challenges posed by the COVID-19 pandemic, achieving an occupancy rate nearing 100%. On top of that, our commitment to sustainability enabled us to secure a BREEAM Excellent certification, making BPlanet one of the few retail parks in Portugal to attain such a distinction. These accomplishments have significantly enhanced the property's appeal to investors, aligning seamlessly with their portfolio objectives."
In recent years, AM ALPHA has continuously expanded its Portugal portfolio. In addition to retail parks, several office buildings have been acquired in Lisbon and Porto over the last few years.
"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. This transaction underscores AM ALPHA's dedication to generating exceptional outcomes through strategic market insight and value-driven real estate initiatives," explained Rafael Macia.
AM ALPHA was advised on the transaction by RPE and JLL, with legal counsel provided by PLMJ. Multi Corporation has acted as property and centre manager of BPlanet since its acquisition by AM ALPHA.
Image source - AM ALPHA.
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