Project Poseidon

Background

JLL was instructed to support Frey in the acquisition of Algarve Shopping and Albufeira Retail Park, located in Guia Albufeira, totalling 60,000 sq m and part of the largest retail cluster of the Algarve region. The assets were acquired from a fund managed by CBRE GIP and Sonae Sierra, through the acquisition of 100% of the shares of 4 companies owning the assets.

Strategy

Following a detailed analysis of the information provided by the vendor, JLL advised Frey in the best pricing for the non-binding phase of the process. Groupe Frey was selected to enter into exclusivity where JLL conducted a full commercial due diligence including tenant performance analysis, competition analysis, catchment area and recommendation on the leasing and asset management initiatives to underwrite the value enhancing potential of the assets.

Results

This was Groupe Frey’s first acquisition in Portugal, hence the transaction is a testimony of JLL’s unique capability of providing clients with full-service, sector-specific advice also in a market entry. The combination of JLL’s Portuguese Capital Markets team with the support of the Retail leasing and Research teams ensured optimal support for the client throughout the process.