JLL’s Private Wealth team, which is part of the Capital Markets Department, concluded the sale of the building in a deal valued at more than €5 million. Lynx Asset Managers acquired the building at nº370-374 Rua de Santa Catarina, in Porto, for Nest Capital Fund, which has Optylon Krea as an advisor. JLL acted on behalf of the seller, a Portuguese private investor.
The building is located in one of the most well-known locations for street shopping in downtown Porto. Courir is currently leasing the property, which houses the Spanish sportswear brand’s first shop in Portugal. The shop has an area of 767 m² of space on five aboveground floors, 215 m² of which is on the ground floor and street-facing.
According to Fernando Ferreira, Head of Capital Markets at JLL Portugal, “real estate will continue to be perceived by investors as a safe investment, especially in more difficult times such as these. High street retail has been a highly appreciated asset class by private investors who want to be active in real estate. Due to its characteristics, it is a type of asset with a lot of liquidity. Such attractiveness has not waned even in the current more adverse climate, namely in terms of occupancy… Furhtermore, this operation is proof of that, showing that quality real estate, in prime locations, with an adjusted ticket price, will always be attractive to investors.”
JLL Private Wealth
JLL’s Private Wealth area is dedicated to supporting private investors, such as family offices and individuals who want to be active in the commercial real estate investment market, whether buying or selling. In this type of investor, transactions usually involve tickets between 1 million and 10 million euros, with long-term lease contracts and solid tenants.
Integrated with JLL’s Capital Markets department, the dynamics of this team reflects the growing importance of this investor profile in the Portuguese market. As such, it has advised around 30 transactions totalling 60 million euros over the last two years.