PLMJ advises Castellana Properties’ entry into Portugal

Lisbon: Castellana Properties, a real estate investment company (Socimi) of the South African fund Vukile Properties, is making its first acquisition in Portugal with the purchase of three shopping centers from Harbert European Real Estate. PLMJ has advised Castellana Properties throughout the negotiation process and the tax structuring of the operation, which will be completed in October. The binding purchase agreement between the two parties was signed last week.

The transaction is valued at €176.5M and includes the acquisition of Loures Shopping, Rio Sul Shopping, and 8ª Avenida shopping center. Castellana Properties adds nearly 75,000 m² to its portfolio, marking its first investment in Portugal and a significant step in its expansion in the Iberian Peninsula.

On the PLMJ side, the team was led by Ricardo Reigada Pereira (pictured) for the Real Estate and tax structuring components, with the participation of Hélder Santos Correia and Rita Neves Machado (Real Estate) and Leonardo Scolari (Tax).