Merlin Properties SOCIMI S.A., a Spanish REIT, has acquired FORUM ALMADA – GESTÃO DE CENTRO COMERCIAL, SOCIEDADE UNIPESSOAL, Lda., owner of Almada Forum shopping center in Lisbon. The transaction price, fully financed through MERLIN’s equity, amounted to €406.7 million ($476.13 million).
Opened in 2002, the complex has a gross leasable area of approximately 883,000 square feet, of which 237,000 square feet are a Jumbo supermarket belonging to Auchan, and includes 5,500 parking spaces.
Almada Forum is the dominant shopping and leisure destination in the south bank of the Tagus river, receiving more than 14.4 million visitors per annum. The popularity of the complex in terms of visitors goes hand in hand with its commercial success, currently nearing full occupancy (98 percent of gross leasable area let).
Due to its connections to the center of Lisbon, to the A-2 motorway connecting Lisbon to the southern regions of Portugal and to the IC20 connecting Lisbo
