French Real Estate Firm Epsicap Reim Enters Portugal with Warehouse Purchase
The French real estate investment management company, Epsicap Reim, has announced its first acquisition in Portugal, marking its entry into the country's burgeoning property market. After establishing a presence in France, Spain, and the United Kingdom, the Bordeaux-based firm has now acquired a logistics warehouse located in São Domingos de Rana, a parish within the municipality of Cascais. The transaction underscores growing international interest in Portugal's commercial and industrial real estate assets.
The acquisition was made on behalf of the firm's real estate investment trust, SCPI Epsicap Nano, pushing its total asset value beyond the €187 million mark. The property itself is a substantial logistics facility spanning 10,884 square meters, which includes both traditional warehouse space and a cash & carry area for wholesale trade. The value of the transaction was not publicly disclosed by the company.
Strategically positioned along a key transport artery that connects the A5 motorway (linking Lisbon to Estoril) and the A37 motorway in the Sintra area, the asset's location is ideal for distribution and logistics operations. The entire facility is currently occupied by the national retailer Poupança Cash & Carry. The deal was structured as a long-term sale and leaseback operation, with the tenant committed to a 12-year lease agreement, ensuring a stable and long-duration income stream for the new owner.
Florian Le Quéré, the Partner and Investment Director at Epsicap, expressed strong optimism about the new venture, calling Portugal a “particularly promising” market. He stated, “This investment illustrates our will to build a diversified European portfolio. We intend to rapidly increase our exposure in Portugal and are currently analyzing numerous new opportunities.” This comment signals that the Cascais acquisition is a strategic first step, with further investments in the Portuguese market likely to follow as the company seeks to expand its geographic diversification.
Epsicap, founded in 2001 and led by Andràs Boros, currently manages over €200 million in assets. This move into Portugal is consistent with its strategy of expanding its European footprint. The transaction was a complex undertaking involving multiple advisory firms. The seller, Amaral & Filhos Distribuição SA, was advised by Optimal Investments. Epsicap, the buyer, was represented by the global real estate consultancy Colliers, with legal counsel provided by the law firm pbbr and engineering consultancy from Arcadis.
The entry of Epsicap Reim into the Portuguese market is a notable event, highlighting the attractiveness of the country's logistics sector to foreign institutional capital. The long-term leaseback structure of the deal points to a sophisticated investment strategy focused on secure, long-term returns, a model that is increasingly popular among international property investors looking at opportunities in Portugal.
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