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Värde Partners Acquires Portuguese Real Estate Asset Manager Imopólis
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LISBON – Värde Partners, a leading global alternative investment firm, today announced that funds managed by Värde have acquired Imopólis - Sociedade Gestora de Fundos de Investimento Imobiliário, SA (“Imopólis”), a Portuguese regulated real estate asset manager, and FIIF ImoDesenvolvimento, a closed-end commercial real estate fund.
Värde plans to use the platform to invest in Portugal and build its position in the local real estate market. Rental growth combined with low vacancy rates and a shortage of supply, especially for quality office space, has led to a supply-demand imbalance in the Lisbon office space market and contributed to a favorable investment environment.
The acquired real estate portfolio includes business parks, office space and commercial land plot assets in greater Lisbon, and has a gross asset value of €186.6 million.
“This is the beginning of an exciting chapter for Imopólis. Värde will be a tremendous partner, providing capital and technical capabilities to enhance and expand our portfolio in Lisbon and the surrounding areas,” said Ricardo Valente, CEO of Imopólis. “Importantly, we remain committed to excellence and to providing innovative and tailored solutions to our clients.”
“Working with Ricardo and his highly experienced team, we will execute a strategy to access opportunities created by Portugal’s promising economic recovery and growth. Värde is an active investor in Southern European real estate and this strategic investment in Portugal is consistent with our local, country-specific approach,” said Francisco Milone, Partner and Head of European Real Estate at Värde Partners.
Värde invests in real estate assets, loans and operating companies globally. This investment in Imopólis expands Värde’s strong presence in Europe, particularly in Iberia.
About Värde Partners
Värde Partners is a $14 billion global alternative investment firm that employs a value-based approach to investing across a broad array of geographies, segments and asset types, including corporate and traded credit, real estate, mortgages, specialty finance, real assets and infrastructure. The firm sponsors and manages a family of private investment funds with a global investor base that includes foundations and endowments, pension plans, insurance companies, other institutional investors and private clients. Now in its third decade, Värde employs more than 300 people globally with regional headquarters in Minneapolis, London and Singapore.
Incorporated in October 1993, Imopólis is focused on the administration, management and representation of real estate assets, acting exclusively in the Portuguese market. Imopólis believes that to make a difference in the real estate market requires constant innovation, providing integrated and tailored solutions to clients. For more information, please visit www.imopolis.pt.