M7 Real Estate, the pan-European investor and asset manager specialised in multi-tenanted properties, has agreed the sale of IN Guarda Retail Park to CA Património Crescente Fund, managed by Square Asset Management, the largest independent Real Estate Fund Manager in Portugal.
M7 purchased IN Guarda Retail on behalf of its M7 Portuguese Active Fund (“M7 PORAF”) in 2019, an asset comprising c. 12,000 sq m of retail warehouse space, occupied by a strong and diverse mix of tenants, including Leroy Merlin, Decathlon, JYSK, Centroxogo, and Petroprix.
Since acquiring the asset, M7 has implemented an active asset management strategy, expanding two units and adding a total of 815 sq m of space. M7 also oversaw the division of a c. 2,370 sq m unit into two in order to attract a wider range of occupiers. This strategy resulted in an increase of the occupancy from 90% to 100%, and 30% growth in the asset’s rental income.
You can now read the full press release at the link below