Patron Capital and Inbright to invest €100m in logistics in Portugal

European institutional investor Patron Capital and logistics property developer Inbright Inbright have launched a €100 mln program to develop sustainable light industrial and logistics properties in Portugal.

The program targets properties in Lisbon and Porto with value-add potential, focusing on modernizations and improvements to energy efficiency and CO2 reduction, achieving at least a BREEAM In-Use "Good" rating. Investments will also selectively target properties in other economically strong regions, industrial clusters, and key transportation hubs across Portugal.
The program's first acquisition is Alto BP, a 16,259 m2 multi-tenant industrial property northwest of Lisbon, formerly owned by ECS. The property is 90% leased, with a Portuguese government agency as the anchor tenant.
The Vila Franca de Xira property was sold by an ECS-managed SPV, advised by CBRE and CVG Lawyers. NewCycle and TFRA advised the buyers.
The program aims to capitalize on Portugal's strong demand, low vacancy rates (less than 5%), limited new construction, and the need for modern, ESG-compliant industrial space.
Jonatas Szkurnik, senior partner and investment director at Patron Capital, said: "We see great potential in the Portuguese light industrial and logistics market. The high demand for modern, efficient space is driving growth in this segment – this is precisely where our partnership with Inbright Portugal comes in. We are also observing increasing demand for sale-and-leaseback solutions that enable companies to release capital and reinvest in their core business."
Christoph Gumlich, managing partner at Inbright Portugal, commented: "The acquisition of Alto BP underpins our strategy of investing in excellently located properties with value creation potential and enhancing them through active asset management and sustainable renovations. Demand for ESG-compliant, modern light industrial and logistics properties in Portugal is high. With our expertise, we develop and manage high-quality properties that meet increasing market requirements, improve sustainability standards, and open up attractive growth opportunities."
Manuel Noronha Andrade, CEO of ECS, added: "We are pleased about the successful completion of this transaction with Patron Capital and Inbright Portugal. The collaboration was particularly professional and focused. The extensive expertise and strategic vision of both partners give us confidence that the property will continue to be operated successfully and make a positive contribution to the Portuguese light industrial and logistics market."
This Portuguese venture is Patron Capital and Inbright's second partnership, following a €250 mln German light industrial and logistics program, which has already seen acquisitions in Cologne, Hamburg, and Mainz, with more planned. They are also developing the LIZ Industrial Centre in southwest Germany.