The Portuguese real estate fund Imofid closes its first investments in Spain for 70 million euros

July 16 () –

Fidelidade Sociedade Gestora (FSG) has acquired, through the Imofid real estate fund, two office buildings in Madrid and Barcelona for 70 million euros, which represents its first investment in Spain, as reported in a statement.

Specifically, it has closed the purchase in Madrid of the emblematic Trianon Building, with a ‘Leed Gold’ certificate, nearly 19,800 square meters and 400 parking spaces, and the corporate headquarters of the Catalan multinational OCA Global, with approximately 4,800 square meters of office space in Sant Cugat del Vallès.

These investments represent the first acquisitions in Spain of the Imofid fund, which has some of the largest Portuguese institutional investors as participants and is managed by FSG (Fidelidade Sociedad Gestora), 100% owned by Grupo Fidelidade, the largest insurer in Portugal.

These operations are part of the fund’s strategy of diversifying its investments at a pan-Iberian level in high-quality ‘Core’ and ‘Core+’ assets, in consolidated office areas in the main cities of Portugal and Spain, with the aim of giving long-term stable returns to fund investors.

“As a long-term investor, these first two acquisitions in Spain represent a very important strategic milestone for the fund, demonstrating our ability to execute at the Iberian level, with the purchase of two high-quality assets and top-tier tenants,” said the head of information systems and director of the management company, Eduard Otero.

Its strategy involves turning Imofid into a “reference” Iberian ‘Core/Core+’ real estate fund, with exposure to its two main markets, Portugal and Spain, in areas with solid long-term fundamentals.

“We are going to focus on reinforcing the quality of our assets, focusing on the management and improvement of sustainability as a pillar of our management, responding to the current and future needs of our tenants,” he adds.

As part of its portfolio expansion and diversification, FSG will continue to search for and execute investments within the global investment strategy defined in its two funds (Core/Core+ and Value Add), in the office, hotel and retail sectors in the main cities of Portugal and Spain.