Savills Investment Management, the international real estate investment manager, has acquired a portfolio of four urban supermarkets in Portugal on behalf of its European Food Retail strategy.
With this transaction, the strategy’s portfolio has grown to a volume of approximately €470 million ($494 million). Additional equity is available for future acquisitions, with a continued investment focus on Spain, Portugal, Italy, the United Kingdom, Ireland, Benelux and the Nordics.
The four Portuguese supermarkets are located in the towns of Lourel, Leça do Balio, Loulé and Mafra. Each property has a long-term lease with Continente, the market leader in Portuguese food retail. All four assets are strategically located within Portugal — two in the Lisbon metropolitan area, and one each near Porto and in the Algarve — and have strong catchment areas with positive population growth.
These well-established Continente Modelo supermarkets are highly attractive to c
