Garrigues, PLMJ and DLA Piper instructed on Lisbon market deal

Garrigues and DLA Piper advised Oakley Capital Investments on its acquisition of Lisbon´s Mercado da Ribeira, with PLMJ advising the sellers on the deal.

Oakley Capital Investments made the acquisition, which took around two months to complete, because it is aiming to replicate the project – which involved converting a traditional market into a gourmet food market – in other cities around the world, specifically London, New York and Dubai.

Oakley Capital Investments is owned by the Time Out Group.

Tiago Mendonça de Castro, who led the PLMJ advising on the deal, said the deal amounted to a “very significant and very demanding corporate real estate operation”.

He added that Oakley Capital Investments’  target was a company that “operates a unique commercial space with very specific characteristics, one of which was the desire to acquire know-how from those who implemented the project with great success in a traditional market hall”.

“This market has today become much more than a great collection of restaurants. It is also one of the projects that has brought new dynamism to the real estate sector along the Lisbon riverfront”.