Trei Sells Portfolio of 49 Retail Properties in Portugal to LCN

The majority of the properties, located in cities such as Porto, Lisbon, Faro, and along the Algarve coast, are let to Pingo Doce.

Importantly, as part of LCN’s acquisition, long-term lease renewals have been negotiated. 

The disposal marks another step in the ongoing strategic portfolio optimisation, the goal being to sharpen Trei’s profile as a developer, and to focus on its core markets of Germany, the United States and Poland to this end.

The retail property portfolio includes a total lettable area of around 68,000 square meters. Out of the total, 44 properties are let to Pingo Doce, the second-largest supermarket chain in Portugal. The other retail properties are occupied by the supermarket chains Continente and Minipreço.