French Investment Manager Epsicap Reim Acquires First Asset in Portugal
The French real estate investment management company, Epsicap Reim, has completed its inaugural acquisition in Portugal, purchasing a logistics warehouse in São Domingos de Rana, Cascais. The announcement was made on Tuesday, marking the company's entry into its fourth European market, following its existing investment presence in France, Spain, and the United Kingdom.
The transaction, for an undisclosed amount, was executed on behalf of the firm's SCPI Epsicap Nano real estate fund, which now has a portfolio valued at over €187 million. The acquired asset is a 10,884-square-meter logistics and cash & carry facility. It is strategically positioned adjacent to a major transportation corridor that links the A5 motorway (Lisbon-Estoril) with the A37 in the Sintra region, providing excellent access to the greater Lisbon metropolitan area.
The property is fully occupied by the Portuguese wholesale company Poupança Cash & Carry. The acquisition was structured as a sale and leaseback transaction, with a long-term lease agreement of 12 years in place, ensuring a stable income stream for the investor. The seller was the Portuguese distribution company Amaral & Filhos Distribuição SA.
Florian Le Quéré, an associate and the Director of Investments at Epsicap, described the Portuguese market as “particularly promising.” He stated, “This investment illustrates our desire to build a diversified European portfolio. We intend to rapidly increase our exposure in Portugal and are currently analyzing numerous new opportunities.” This move signals the firm's confidence in the continued growth and stability of the Portuguese real estate market.
Epsicap, founded in 2001 and led by Andràs Boros, currently manages assets totaling more than €200 million. The company's leadership has identified the acquisition in Cascais as a key part of its ongoing strategy for geographic diversification. The choice of a logistics asset for its first Portuguese investment highlights the strength and appeal of this particular sector, which continues to attract significant domestic and international capital.
The deal was facilitated by several advisory firms. Optimal Investments represented the seller, while the international real estate consultancy Colliers advised Epsicap Reim on the purchase. Legal advisory was provided by the law firm pbbr, and the engineering consultancy Arcadis also supported the transaction.
This acquisition is a notable indicator of the health of the Portuguese commercial real estate market. It demonstrates continued interest from foreign institutional investors who are seeking to deploy capital into assets with strong fundamentals, such as strategic location and long-term tenancy. The logistics sector, in particular, is expected to see sustained demand driven by evolving supply chains and consumer habits.
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