CBRE Global Investors has sold the Mondego Retail Park in Coimbra, Portugal, to Belgian real estate investor Mitiska REIM, which completed its first investment operation in Portugal.
“It is with great pleasure that we enter Portugal, a market that is experiencing an excellent moment both in terms of the economic cycle and the real estate market,” said said Axel Despriet, CEO of Mitiska. “In the aftermath of the economic crisis, many retailers and investors moved away from Portugal. We now see the opposite trend, with real estate transactions nearing record highs, and retailers and investors returning, attracted by the improved economic environment and very competitive risk/return opportunities.”
The 312,000-square-foot Mondego Park is the largest retail park in the country with 21 stores. Tenants include Decathlon, Minipreço and Seaside.
“This business confirms that the international interest for our country continues very strong and that the retail r
