Corum beefs up investments in Portugal

The French fund management company Corum Investments is to increase its investments in commercial real estate in Portugal.

The company is to invest in two or three real estate projects outside of Lisbon according to its managing director in Portugal, José Gavino, one of them in Porto linked to the logistics and offices segments.
Gavino says the company might press ahead with the acquisition of buildings currently being explored by companies in the hotels sector.
“We have been in discussions with some people in the hotels business and we might move forward with some business projects if we can get what we want in terms of income which is calculated with rents and assets distributed among fund investors.
The French group manages three investment funds (Origin, XL, and Eurion) which together have a real estate portfolio worth €5.5Bn. Portugal represents around 1% of the assets in the portfolios of these funds representing 14 properties in an investment of around €100 million.
“The first time we made investments in Portugal was in 2014 when we acquired five Pingo Doce buildings with a yield of almost 8% at the time”, José Gavino told the online news source ECO.
Last year, the Corum Group bought the Fusion Fuel factory premises in Benavente in a sale and leaseback operation.
It also bought the Heroísmo office building in Porto for €16 million. Among the buildings it owns in Portugal are three are in Porto, Lisbon and Braga, occupied by the Rumos Group and a building occupied by Unicre in Lisbon.