Makro Sells Store in Alfragide for More than 40 Million Euros

Makro Portugal has just sold the site of its first store in Portugal, in Alfragide.

The sale & leaseback transaction, which includes the company’s land and buildings in Alfragide, comprises an office building and retail outlet. The asset sold for over €40 million.

In conjunction with METRO PROPERTIES, the real estate management arm of METRO AG, Makro Portugal sold the asset to the Open Real Estate Investment Fund IMOFOMENTO, managed and represented by BPI Gestão de Ativos. The site has 25,400 m², including 21,000 m² of sales floors, with the remaining 4,400 m² consisting of an office building.

The transaction, mediated by JLL, serves to unload the asset from Makro Portugal’s balance sheet and free up liquidity while guaranteeing a long-term contract for the location.

The group will use the funds for further new investments to increase competitiveness and consolidate its position in the local market. It is also part of METRO PROPERTIES’ global strategy.