Leadcrest Capital finalizes a 49% acquisition of Os Mosqueteiros’ real estate arm, overseeing assets valued at nearly €500 million in Portugal.
Leadcrest Capital has made a significant foray into the Portugal’s real estate market by acquiring a 49% stake in Alcapredial, the property management subsidiary of the Os Mosqueteiros Group. This French investment fund announced the completion of the acquisition, which pertains to a portfolio of assets valued at approximately 500 million euros.
While the precise financial details of the transaction remain undisclosed, prior reports from November suggested a figure hovering around 120 million euros. The acquisition encompasses a diverse array of over 260 commercial establishments, prominently featuring well-known retail brands such as Intermarché, Bricomarché, and Roady, all of which contribute to the impressive cumulative gross value of the portfolio.
In navigating the complexities of this transaction, Leadcrest Capital enlisted the expertise of Vieira de Almeida (VdA) for tax and legal advisory services. Additionally, the fund sought guidance from Howden, KPMG, and EY across various operational dimensions. Meanwhile, the Os Mosqueteiros Group, the parent company of Intermarché, relied on the legal and tax acumen of Cuatrecasa, supplemented by the consultancy prowess of Arcadis, Gleeds, CBRE, and Santander.
The financial underpinnings of this venture were orchestrated by Natixis and Novo Banco, with the backing of several prominent Portuguese banking institutions. This strategic acquisition not only underscores Leadcrest Capital’s commitment to expanding its footprint in the Iberian Peninsula but also highlights the growing allure of Portugal’s real estate sector amidst a backdrop of economic dynamism and opportunity.
