LCN Capital announces the acquisition of a significant Portuguese supermarket portfolio
buy from 49 properties consolidates LCN’s position as one of the most prominent grocery lessors on the Iberian Peninsula
NEW YORK, March 15, 2023 /PRNewswire/ — LCN Capital Partners (“LCN”), a recognized leader in the primary sale-leaseback and build-to-suit markets, has entered into an agreement to acquire 49 retail properties Portugal This makes it one of the largest private owners of supermarket facilities on the Iberian Peninsula.
The portfolio was acquired by Trei Real Estate GmbH, an international developer and asset manager based in Düsseldorf. Germany active in residential and retail real estate. The transaction was completed on January 31, 2023.
Edward LaPumaCo-Founder and Managing Partner of LCN Capital Partners, commented: “We have expanded our sale-leaseback and build-to-suit portfolio Europe in the last decade. We believe this portfolio is a great addition to our latest European fund and underscores our ability to partner with our tenant clients like Pingo Doce to help them grow and achieve their goals. Upon completion of this investment, LCN will be one of them Europe largest private grocer. I would like to thank the team and respective advisors who were able to complete this transaction. In addition, we would like to welcome Pingo Doce as one of our key tenant customers and look forward to working together.”
The acquired retail property portfolio comprises a total rental area of around 70,000 square meters. Of the 49 properties acquired, 44 are leased to Pingo Doce, Portugal’s second largest supermarket chain. The other retail properties are occupied by the supermarket chains Continente and Minipreço.
In addition to the showcases just shopped PortugalLCN has acquired a number of high-quality, mission-critical, high-performing and large-scale supermarket portfolios, including Mercadona in SpainFortenova a CroatiaContinente Sonae in Portugaland Auchan in Poland. LCN has invested over €700 million in food/grocery retail investments Europe.
“Over the past several years, we have continued to expand our portfolio, partnering with major food companies to back them with our long-term capital and acquire their critical assets in bespoke sale-leaseback transactions,” he said Paul Rosso, Partner at LCN Capital Partners. “We will continue to be a trusted business partner for our tenants and customers through all cycles and will continue to evaluate new partnerships in the food market and other industries with regard to the critical assets of companies Europe and North America,” he added.
Carlos Vieira NetoVice President at LCN Capital Partners, added, “We are very pleased to have completed this acquisition after an exceptionally competitive process in changing market conditions. We have proven once again that our local knowledge combined with our execution capabilities make us a reliable partner for providers and tenants alike.”
LCN Capital Partners is a recognized leader in the primary sale-leaseback and build-to-suit markets, where investments and leases are made directly by corporate occupiers of mission-critical real estate. LCN offers its tenants a long-term solution by providing an unbanked source of capital, efficient monetization of on-balance-sheet properties, ongoing operational control over key assets, improved financial metrics and potential tax benefits. LCN’s investment partners benefit from the long-term and inflation-protected distributions that LCN provides.
About LCN Capital Partners
Founded in 2011 by Edward V. LaPuma And Bryan York ColwellLCN almost manages now 7 billion dollars in assets of several funds denominated in US Dollars, Euros and Sterling. headquarters in NYCLCN also has offices in Amsterdam, Cologne, London, LuxembourgAnd palm beach.
LCN is a recognized leader in the sale-leaseback and build-to-suit markets and has made over 100 investments and acquired properties in 16 countries North America And Europe. LCN’s investment team has extensive experience in dealing with sale-leasebacks across all industries, credit ratings, property types and locations. The Company strives to provide investment partners with consistent payouts while providing an alternative source of capital for corporate real estate owners.
For more information, visit: https://www.LCNpartners.com/.
Craig AllenExecutive Principal
Allen & Associates Communications
Telephone: +1 475 419 4468
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SOURCE LCN Capital Partners