Summary:
Barings and Panattoni invest in Lisbon logistics park.
Acquisition of 85,000 m2 for significant logistics development.
Focus on foreign investment in Portugal's commercial real estate.
DLA Piper handles due diligence and contract processes.
$421 billion asset management firm Barings involved.
American Companies Make Strategic Move in Portugal
American firms Barings and Panattoni have made headlines by acquiring properties from the French company Saint-Gobain, with plans to construct a substantial logistics park spanning 85,000 square meters in the Lisbon Metropolitan Area.
This investment underscores the growing attention from foreign investors towards Portugal's commercial real estate sector. According to a statement from DLA Piper, the law firm overseeing the due diligence and the contractual processes, this deal involves the purchase of a 210,000 square meter plot in Santa Iria. The park is anticipated to become one of the largest logistics facilities in the Lisbon region.
DLA Piper did not disclose the transaction amount, but highlighted the significance of this venture in enhancing the logistics infrastructure in the area. Barings, recognized as a global asset management company with over $421 billion in assets under management, collaborates with institutional clients and offers flexible financing solutions to leading companies.
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