Corum acquires a logistics center in Famalikana for26 million euros

The French company Corum Investments has acquired a logistics center in Famalição for 26 million euros. The center has been leased to the Portuguese company Olicargo for the next 19 years.

Corum Investments, a French asset management company, has acquired a logistics center in Famaliçao, which houses Olicargo's distribution center for the northern part of the country. The deal was closed for 26 million euros and involved the Corum Eurion fund, one of the funds managed by Corum Investments, as well as private investors, the French group announced in its statement.

The deal also includes an irrevocable lease agreement with Olicargo, a transportation company based in Trofa, which has occupied the premises of the logistics center since the end of 2022 for a duration of 19 years, according to the statement.

The property, located 30 minutes from Porto, has a total area of 67,000 square meters, of which about 34,000 square meters is covered space, where 72 uneven docks operate. There is also parking for 185 cars and 36 trucks.

Now, Corum Eurion's real estate portfolio in Portugal consists of four properties available only to professional investors. Earlier this year, Eurion acquired the Fusion Fuel electrolyzer factory premises in Benavente for about 10 million euros. Additionally, there is a stake in the Green Park building in Lisbon, which houses the Unicre headquarters, acquired from Iberia Fund in 2021 for 6.5 million euros. In Porto, Eurion invested 16 million euros in the acquisition of an office building on Eroismo Street, where the technology companies Infraspeak, Koerber, and Sitel are located.

However, among the three funds managed by the French group - Origin, XL, and Eurion - Corum Investments' portfolio in Portugal now consists of 16 commercial properties and will be expanded.

Corum Investments began its operations in Portugal in 2014 and has over 200 commercial properties in 17 European countries and Canada, with a total value exceeding 5.5 billion euros. Portugal accounts for about 1% of the assets in these funds, with more than 100 million euros invested in 16 properties.

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