PLMJ Advises Castellana Properties on its First Investment in Portugal with a €176 million Deal
September, 2024 - Portugal
Castellana Properites, Socimi of the South African fund Vukile Properties, is to make its first acquisition in Portugal with the purchase of three shopping centres from Harbert European Real Estate.
PLMJ advised Castellana Properties throughout the negotiation process and tax structuring of the transaction, which will be completed in October. The binding sale and purchase agreement between the two parties was signed last week.
The transaction is valued at €176.5 million and includes the acquisition of Loures Shopping, Rio Sul Shopping and the 8ª Avenida shopping centre. Castellana Properties adds almost 75,000 square metres to its portfolio, its first investment in Portugal and a very important step in its expansion on the Iberian Peninsula.
On the PLMJ side, the team was led by Ricardo Reigada Pereira in real estate and tax structuring and included Hélder Santos Correia and Rita Neves Machado (real estate) and Leonardo Scolari (tax).
