Slate Asset Management announced that it has expanded its European essential real estate strategy into a new market with the acquisition of a portfolio of 12 grocery properties in Portugal valued at approximately €150 million ($164 million) from seller LCN Capital Partners.
The portfolio comprises 12 grocery real estate properties, which are entirely let to Continente, Portugal’s largest grocery retailer, under long-term lease agreements supporting stable and attractive income streams. The properties are high-quality, strong-performing stores that are well located in large urban areas and geographically diversified across Portugal, largely concentrated in the metropolitan area of Lisbon, Porto and Faro. All stores offer convenient transportation links and a range of electric vehicle charging facilities.
“This acquisition marks an exciting new chapter of growth for our European platform, as we expand into a new market with a portfolio underpinned by a leading regi
