Clarion Partners Europe 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, totaling 13,000 square meters (140,000 square feet), 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 approximately 60 percent 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 centers and key transport connections.
“The Portuguese food retail sector is highly attractive, underpinned by resilient consumer spending and strong tenant covenants,” said Max Rooney, director at Clarion Partners Europe. “This portfolio aligns with our c
