Clarion Partners Europe acquires six supermarkets in Portugal

Real estate investment manager Clarion Partners Europe has acquired a portfolio of six newly developed supermarkets in Portugal.

CPE supermarkets

The acquisition was made from Dutch developer Ten Brinke on behalf of one of Clarion Partners Europe's commingled funds.

The properties, totalling approximately 13,000 m2, are all fully leased for new 20-year terms to one of Europe's largest food retailers. Each of these six assets is newly built, adheres to modern technical standards, and features rooftop photovoltaic panels for energy generation.

Strategically located in densely populated areas, with about 60% of the portfolio's annual base rent coming from the Greater Lisbon and Porto regions, these supermarkets are well-positioned to benefit from major population centres and excellent transport links.

Max Rooney, director at Clarion Partners Europe, commented: “The Portuguese food retail sector is highly attractive, underpinned by resilient consumer spending and strong tenant covenants. This portfolio aligns with our conviction in the sector’s long-term defensive characteristics, offering stable, predictable income streams while also benefitting from modern, strategically located assets around key population centres.”

Thorben Schaefer, managing director at Clarion Partners Europe, added: “This transaction represents a compelling long-income opportunity, allowing us to capitalise on ongoing investor interest in essential, convenience-driven retail formats.”

Clarion Partners Europe was advised by Linklaters, Arcadis, CBRE and Deloitte.