Cuatrecasas guides LCN in €150M supermarket deal in Portugal

Cuatrecasas has provided legal advice to LCN Capital Partners on the sale of a portfolio of 12 supermarkets in Portugal to Slate Asset Management, with a total value of approximately 150 million euros. The portfolio had been acquired by LCN Capital Partners, a U.S. private equity fund, in 2015 from the Sonae Group in a sale & leaseback operation. The 12 retail assets, located in various urban areas, with a focus on the metropolitan areas of Lisbon and Porto, are leased to Continente and Modelo Continente.

LCN currently manages 7 billion dollars in real estate assets in North America and Europe and has carried out significant operations in the Iberian Peninsula, such as the 2023 acquisition of 49 retail assets, including 44 Pingo Doce supermarkets located across the country, in what was the largest supermarket transaction ever recorded in Portugal, also advised by Sofia Gomes da Costa.

The Cuatrecasas team was led by partner Sofia Gomes da Costa (pictured), from the real estate and urban planning area, who had also advised LCN Capital Partners on the acquisition in 2015.