AM sells Portuguese shopping centre to ING Real Estate

AM (Amstelland MDC) and ING Real Estate Investment Management have signed a contract for the purchase of the Coimbra, Portugal, retail park, Parque Mondego. The total investment value of this project is approximately € 30 million.

The Parque Mondego retail park is located between the cities of Coimbra and Figueira da Foz, near the A1 Lisbon-Oporto motorway. It has a consumer base of 360,000 inhabitants and comprises approximately 30,000 m2 of retail area, consisting of 760 m2 catering establishments, 15 shopping units varying between 1,000 and 4,500 m2, and outdoor parking space for approx. 1,300 cars.

With main tenants including Mestre Maco, Radio Popular, Babou, Multiopticas, Home Sweet Home, Casa das Peles and Coimbra Desporto, Parque Mondego meets the requirements of the consumers in the Coimbra area. Pargue Mondego opened in July 2002. Sales in the retail park have conformed to retailers’ expectations ever since the official opening. To date, a turnover of approximately € 13.2 million has been realized.

Source: AM

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