Corum Asset Management buys logistics park in Portugal for €34m

French asset manager Corum Asset Management, through its Corum Eurion fund, has bought Worten's logistics park in Azambuja, Portugal for €34 mln.

EIPA II building used by Worten

The deal represents a long-term investment with an expected annual return exceeding 7%. 
The EIPA II building, built for Portuguese retailer Worten in 2011, serves as a key distribution centre for the Iberian Peninsula and is strategically located near major transportation routes. 
While part of a larger Sonae logistics centre, the acquired EIPA II building is a premium asset in a prime Portuguese logistics hub, currently in high demand by both domestic and international retail and logistics companies.
Corum Asset Management's investment director, Miguel Valente Bento, said: “We will continue to seek investment opportunities in Portugal that generate attractive returns for our investors, following a long-term strategy, flexible in terms of location and asset class”.
Legal and technical advice was provided to Corum by Morais Leitão and Gleeds, respectively, while Pérez-Llorca and CBRE advised the seller. 
Beyond the Corum Eurion fund, Corum Investments offers Portuguese private investors seeking real estate investment opportunities access to its Corum Origin and Corum XL funds. 
The Corum Group, managing approximately €8 bn in assets for over 130,000 clients, specializes in real estate and high-yield bonds across 17 countries.