Acacia Point Capital advises on Portugal’s largest retail park portfolio transaction
Acacia Point Capital has advised on the largest retail park portfolio sale ever recorded in Portugal. The five properties comprise 82,000 sqm of lettable area and are located in Sintra, Aveiro, Santarém, Lima and Portimão.
The purchaser was Blackstone, a US private equity firm and the vendor is Pillar Retail Europark Fund (PREF).
Matthew Walker, Managing Director of Acacia Point Capital said “PREF is in official liquidation and we are progressively selling its remaining assets as the Continental European property markets recover. The Portuguese portfolio attracted extensive investor interest, primarily from US-based capital. The key asset is Sintra Retail Park, constructed by Sonae/Miller Developments in 2000, adjoining the 57,000 sqm Forum Sintra Shopping Centre. The competitive tension created during the marketing program enabled us to achieve a price significantly exceeding valuation, a great outcome for PREF’s shareholders