The German family office AM alpha invests in a Portuguese shopping center. The “BPlanet” retail park is located near Lissabon and covers 35,369 sqm rented space and 1,710 parking spaces.
Investment in Barreiro Retail Planet
The exact name of the acquired property is “BPLANET – Barreiro Retail Planet”. The shopping mall is located in the south of Portugal’s capital Lissabon near the main A2 highway. 98% of the space is rented to shops, restaurants and service providers. Renters include Jumbo, Decathlon, KFC or McDonalds. The building is furthermore BREEAM certified, which stands for a sustainable building design. Consultants in the transaction were EY, RPE and RRP Advogados.
Co-investment of AM alpha family office and pension fund
AM alpha acquired the Portuguese shopping center alongside a German pension fund (“Nordrheinischen Ärzteversorgung”). AM alpha is a German multi family office focused on real estate. The firm is rooted in the activities of a German real estate millionaire. More than 100 real estate professionals invest in residential, retail, office and logistics real estate. AM alpha is headquartered in Munich (Germany) and has additional offices in Hong Kong, Luxembourg, Istanbul, Shanghai, Tokyo, Sydney and Chile. In total, the Munich-based multi family office manages more than €2B assets under management.
Portuguese real estate getting increasingly important for central European family offices
The transaction illustrates an interesting development: while some years ago, family offices were shying away from investments in Portugal, the market is meanwhile getting more attention. For AM alpha, its the second transaction in Portugal. In 2018, the multi family office acquired the Edificio Mapfre office building in Lissabon. There are various reasons why an increasing number of family offices look into investments in Portugal: prices are still comparatively low and good returns reachable. On the other hand, the Portuguese industry and startup scene is growing. For instance, the Web Summit, one of the world’s largest startup events, is hosted in Lissabon. Furthermore, investment conditions are stable and administrative processes are quite easy.
Disclaimer: The picture is only illustratory and not displaying the BPlanet shopping mall.
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