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.
