- Portfolio of six newly developed supermarkets, secured on long-term, CPI-linked leases to a leading European food retailer -
Clarion Partners Europe, the real estate investment manager, has acquired a portfolio of six newly developed supermarkets across Portugal from Dutch-based developer Ten Brinke, on behalf of one of its commingled funds. The properties, totalling c. 13,000 sqm, are fully leased on new 20-year terms to one of Europe's largest food retailers.
Each of the six assets has been recently delivered to modern technical standards and with rooftop photovoltaic panels.
Located within densely populated locations, with c. 60% of the portfolio's annual base rent generated in the Greater Lisbon and Porto regions, the assets are ideally located to benefit from major population centres and key transport connections.
Max Rooney, Director at Clarion Partners Europe, commented: “The Portuguese food retail sector is highly attractive, underpinned by resilient consumer spending and strong tenant covenants. This portfolio aligns with our conviction in the sector's long-term defensive characteristics, offering stable, predictable income streams while also benefitting from modern, strategically located assets around key population centres."
Thorben Schaefer, Managing Director at Clarion Partners Europe, added: “This transaction represents a compelling long-income opportunity, allowing us to capitalise on ongoing investor interest in essential, convenience-driven retail formats."
Clarion Partners Europe was advised by Linklaters, Arcadis, CBRE, and Deloitte.