Forum Algarve acquired for €130M: advisors
Garrigues has advised Spanish asset manager Alfana Investment Management on its first international acquisition in Portugal. The shopping centre investment firm has acquired Forum Algarve, in Faro, for approximately €130 million. Cuatrecasas advised German asset manager Commerz Real on the sale of the shopping centre, while Pérez-Llorca advised the financing syndicate in connection with the financing for the operation.
The transaction is aligned with Alfana’s investment strategy, which focuses on assets in established, high-traffic locations, such as the city of Faro. The property, built in 2001, has a total area of 27,400 square metres, 115 stores and more than 2,200 parking spaces. The new owners’ objective is to integrate the Portuguese shopping centre into Rivoli Retail.
Legal advisors
The Garrigues team comprised partners Miguel Menezes da Silva, Vasco Rodrigues and Miguel Pimentel, counsel José Diogo Mègre Pires, and senior associates Laura Santana Falé and Ricardo Lira.
The Pérez-Llorca team was led by Carlos Vaz de Almeida, partner in the Banking and Finance practice, and included associates Sara Santos Dias, Miguel Brito da Silva, João Soares Carvalho and Gonçalo Branco Pardal, from the same practice; Mariana Cabana, associate in the Real Estate practice; and Susana Estevão Gonçalves, partner, and Miguel Teles, associate, from the Tax practice.
The Cuatrecasas team advising Commerz Real was led by Sofia Gomes da Costa, partner in the real estate and urban planning practice.
