Sintra, Lisbon

AM ALPHA, a global real estate investment family office, has acquired a retail park in Sintra with a lettable area of over 20,000 sqm. The property is the leading retail park in Portugal and part of the largest retail hub in the immediate vicinity of Lisbon. AM ALPHA is acquiring the retail park as the lead investor in a joint venture with several European family offices. The seller is Ceetrus, a global property company from the French Auchan holding company. The parties have agreed not to disclose the purchase price.

Strategically well located in the greater Lisbon area 
The property acquired is part of the most important and largest retail hub in the Lisbon metropolitan area. The so-called Sintra zone has a total of 130,000 square metres of modern retail space. Completed in 2000, the retail park benefits from its prime location on the A37 motorway, which is easily accessible from all directions. Around 580,000 people live in a catchment area within 15 minutes. The property is fully let to 15 high-profile tenants, including consumer electronics stores (such as Media Markt, Rádio Popular), interior design shops (such as Casa or Hôma) and gastronomic outlets (such as McDonald's or Pizza Hut). 

Portugal - a country with its own shopping culture
"Shopping in Portugal mainly takes place on the outskirts of cities, as retail in the city centre has been restricted for many years. As a result, large and attractive retail parks have developed on the outskirts of the cities, offering a unique shopping experience. They offer a diverse mix of tenants, innovative leisure and entertainment facilities, and free parking, making shopping more pleasant and convenient," says Rafael Macia, Head of Iberia at AM ALPHA. "Portuguese retail parks - in the right location and with the right concept - are therefore a very attractive asset class. We recognised this early and acquired the BPlanet retail park south of Lisbon in 2019."

Continuous expansion of the portfolio on the Iberian Peninsula
AM ALPHA has continuously expanded its portfolio in Portugal in recent years. In addition to retail parks, several office buildings have been acquired in Lisbon and Porto in recent years. "As an independent family office, AM ALPHA can invest anti-cyclically. With our extensive investment experience and on-site expertise, we can achieve above-average returns, especially in a challenging market environment," explains Rafael Macia. "Within Europe, the Iberian Peninsula will remain one of our investment focus areas. We continue to see substantial potential for outstanding investment opportunities in Portugal."
 

AM ALPHA is a Munich based privately owned real estate family office that focuses on global investments in prime real estate on its own account and in collaboration with family offices, private clients and endowments in Europe and Asia. The company is represented in Europe in all major real estate markets with its own offices. Its Asian operations are headquartered in Singapore, with offices in the gateway cities in the Asia Pacific region. AM ALPHA has also received all necessary licenses from German regulator BaFin acting as a German regulated capital management company (Kapitalverwaltungsgesellschaft – KVG) and Alternative Investment Fund Manager (AIFM). The real estate firm is currently managing a substantial Asia Pacific and European portfolio.