The property totals circa 9,900 square meters (sq m) and is well located close to the A5 motorway. Tetra Pak was already the tenant of the space – which was owned by Norfin, one of the largest real estate investment managers in Portugal – and used it to produce Tetra Pak Tubex products.
Tetra Pak has been investing in the production of products in Portugal, where it has been in operation since 1963. The acquisition of this property, where it produces paper straws, underlines its investment in the country, and its commitment to solutions that meet customer needs sustainably. The relationship between Tetra Pak and Cushman & Wakefield Portugal dates to 1989, when the Swedish multinational mandated the latter’s predecessor firm George Knight to sell the facility. Later, in 2001, Cushman & Wakefield Portugal sold the property to Fund Vision – Managed by Norfin.
From 2019 to 2022 the property was owned by CCP 5 – a fund managed by Tristan Capital Partners.
Eric Van Leuven, Head of Portugal at Cushman & Wakefield, said: “This transaction takes us back to the origins of Cushman & Wakefield in Portugal. We are very happy that, after so many years, we continue to be part of the history of Tetra Pak in Portugal and to be its first choice to act as an advisor for real estate transactions in the country.”
Ramiro Ortiz, Managing Partner of Tetra Pak Iberia, said: “This transaction made perfect sense for Tetra Pak, given the importance of this factory in producing our paper straws. This purchase also reflects the investment we have been making in Portugal and in our continuous development of more sustainable solutions. Cushman & Wakefield was the clear choice as advisor due to the relationship we have been building over the years.”
For the success of the transaction, Tristan Capital Partners had the support of Norfin, its Portuguese operating partner.
Daniel Lopes, Norfin Manager, explained: “Over the years, we have continuously improved the building, so it meets the best conditions and the demands of tenants and technological developments; this asset has become an exemplary factory.”
