The French asset manager Corum Asset Management, through its Corum Eurion fund, has purchased the Worten logistics park in Azambuja for approximately €34 million. The EIPA II building, acquired in this deal, serves as a distribution center for Sonae’s Worten subsidiary, covering the entire Iberian Peninsula.
Miguel Valente Bento, Corum Asset Management’s investment director for Southern Europe, expressed satisfaction with this acquisition: “We are very pleased with yet another investment by the Corum Eurion fund in Portugal, in a high-quality asset located in the country’s prime logistics zone, which is experiencing increasing demand from both national and international retailers and logistics operators.” He also highlighted that the investment is secured by a long-term contract and offers an annual yield above 7%.
Constructed in 2011 specifically for Worten, the EIPA II building is situated in the heart of Azambuja and is part of Sonae’s larger logistics complex, which includes two adjacent buildings. Corum, which established its presence in Portugal in 2014, plans to continue investing in the country. “We will keep looking for investment opportunities in Portugal that generate attractive returns for our investors, following a long-term and flexible strategy in terms of location and asset class,” added Miguel Valente Bento.
Besides the Corum Eurion fund, the French group also manages the Origin, XL, and Eurion funds in Portugal. Corum operates across 17 countries with seven offices, including one in Lisbon, and currently manages about €8 billion in assets for more than 130,000 clients.
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