M7 Real Estate (M7) has agreed on the sale of IN Guarda Retail Park to CA Patrimonio Crescente Fund, managed by Square Asset Management.
M7 purchased IN Guarda Retail on behalf of its M7 Portuguese Active Fund (M7 PORAF) in 2019, an asset comprising c. 12,000m2 of retail warehouse space, occupied by a strong and diverse mix of tenants, including Leroy Merlin, Decathlon, JYSK, Centroxogo, and Petroprix.
Since acquiring the asset, M7 has implemented an active asset management strategy, expanding two units and adding a total of 815m2 of space. M7 also oversaw the division of a c. 2,370m2 unit into two in order to attract a wider range of occupiers. This strategy resulted in an increase of the occupancy from 90% to 100% and a 30% growth in the asset’s rental income.
Leonardo Peres, Managing Director, Portugal, commented: “We are pleased to announce the successful sale of IN Guarda Retail Park. Through our active asset management strategy, we achieved full occupancy, increasing it from 90% to 100% and also attracted high-quality tenants. This sale highlights our expertise in the Portuguese real estate market and our ability to create value for our investors.”
PORAF was advised by RRP (legal) and RPE (brokerage).
