The leading global real estate services consultant advised on the purchase of the Continente hypermarket in Colombo Shopping Centre
Cushman & Wakefield, the leading global real estate services consultancy firm, has advised Union Investment, one of Europe’s leading real estate investment managers, on the acquisition of the Continente Colombo hypermarket in Lisbon.
This rare opportunity was presented off-market by Cushman & Wakefield to Union Investment and the real estate consultant followed the transaction process from due diligence to closing.
“The acquisition of Continente Colombo allows Union Investment to further diversify their real estate portfolio in Iberia and we are delighted to have helped them enter the retail real estate sector in Portugal,” said Tiago Pereira, Senior Consultant at Cushman & Wakefield Capital Markets.
The acquisition of Continente Colombo combines the two major focuses of Union Investment’s retail investment strategy: grocery-anchored retail and best-in-class shopping centres. According to company sources, Union Investment will further continue to selectively expand their portfolio in both areas.
The Continente Colombo hypermarket is operated by food retailer Sonae MC and boasts an extensive foyer featuring various service, retail and restaurant units and covers a total area of 23,445 sq m. The acquired property forms part of the Colombo Shopping Centre, which opened in 1997 and is Portugal’s dominant and most visited shopping centre with over 300 tenants.
