Évora Retail Park sold for €6.1 million to Europar

  • ECO News
  • 31 January 2022

Évora Retail Park has been sold to Europar for €6.1 million. New owners are creating an additional 2,000 square metres for new shops.

Évora Retail Park has been sold to Brazilian investors. This commercial space with around 6,000 square metres, and opened in 2011, was sold by M7 Real Estate to Europar Investimentos & Participações, the seller revealed on Monday. ECO has since learned from the new owners that the deal was closed for €6.1 million.

The new owners are a family office from Brazil and are creating another 2,000 square metres for new shops, totalling 6,200 square metres. The property is 100% occupied and has AKI, Hôma and Feira dos Sofás as its main tenants. The deal was closed in September last year. ECO also knows that, in the meantime, Europar has already sold a part of the retail park.

Évora Retail Park was opened in 2011 by EVRET (a joint venture between Imorendimento and Madford Developments), the result of a €60 million investment.

This operation was one of three closed last year by M7 Real Estate, through the M7 Portuguese Active Fund. In addition to Évora Retail Park, M7 also sold a 2,800 square metres bulding in Oeiras to a fund managed by Fundiestamo (belonging to the Portuguese State).

The third operation was a “small fraction” of 251 square metres in the Arcis building, in Lisbon, also sold to Fundiestamo. This sale was already known, as it was announced by Fundiestamo itself in August 2021, whose value amounted to €4 million.