Nhood and RPE/JLL announce their collaboration in the sale of 50% of Alegro Sintra by Ceetrus to Castellana Properties. This €180 million transaction strengthens Alegro Sintra’s position as one of the most prestigious retail assets in Portugal.

The deal was spearheaded by Nhood’s Capital Markets team, which managed the entire negotiation and transaction process. Through an innovative and strategic approach, the team ensured a seamless transition while showcasing Alegro Sintra’s strong potential as a highly attractive retail investment.

“The successful completion of this deal with Castellana Properties highlights Nhood’s ability to deliver value to our partners and operate with excellence in the real estate market. This outcome is a testament to the dedicated work of our Capital Markets team and aligns with our mission to create valuable projects,” says Rui Vacas, Head of Capital Markets Iberia at Nhood.

“This disposal follows our mature assets divestment plan that has proven its relevance. This program is in line with Ceetrus new asset strategy, aimed at strengthening the transformation of our sites and reallocating our investments to high added-value projects, across Europe and including Portugal. We are confident in the quality of our assets. We have already disposed of several assets this year and we will be accelerating over the next few years, as announced last March” adds Benjamin Top, Portfolio Director at Ceetrus.

Alegro Sintra has stood out for its innovation, design, and focus on customer experience, while actively supporting local communities. “Selling to a leading investor like Castellana Properties underscores the value and relevance of this asset within the Portuguese real estate sector. Increased investor interest in retail assets in Portugal, driven by excellent asset performance, more available capital, and flexible financing, is making 2024 a record year for deals,” notes Bill Judge of RPE Capital Markets.