US Investor buys €150m Portuguese grocery portfolio of 50 supermarkets at 5% NIY.
React News reports the acquisition includes 44 units let to Pingo Doce, one of the largest supermarket operators in the country
According to Savills H1 2022 Portugal Real Estate Market Report, “Supermarkets have been considered an attractive target for investors across Europe, as the subsector proved its resilience during the Covid-19 pandemic, and is also forecasted to weather the ongoing economic storm well.
The food retail sector was among the best performers of the first half of the year, being responsible for most of the dynamism in the retail sector overall in Portugal”
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