French fund management company Corum does not waste time and is already seeking real estate investment opportunities in Portugal.
Its goal is to expand its current portfolio in the country.
The management fund company’s priority is thus to «seek opportunities within the market which will allow us to expand our fund portfolio [Corum Origin and Corum XL] and find the best solutions to reward our investors», revealed José Gavino, Corum’s director for Portugal, in a release.
For the company, the current situation dominated by the Covid-19 pandemic is «ideal to take advantage of the market’s purchasing opportunities which, at least temporarily, will offer more realistic real estate revenues when compared to the last few years».
That expansion should take place against the wave of demand which is forming amongst investors. «Currently, all investors are rowing in the same direction and they do not want hotels, for example. That is exactly why there are opportunities for us. For us, the market looks «healthier» now than it did two months ago», highlighted the president of French company Corum, Frédéric Puzin.
The truth is that, as explained by Corum’s director in Portugal, «economic crises are cyclic and we know that those who are ready to face them always find good investment opportunities. We believe in the real estate sector’s resilience and, based on our diversification strategy, we have assets in several countries and tenants from different segments, we are in a comfortable position to grow».
Management company Corum landed in Portugal in 2014 and since then it has already invested 60 million euro in the acquisition of 11 assets across several areas within the country. Its latest operation took place last April with the purchase of the asset currently occupied by Pingo Doce in Grijó, Vila Nova de Gaia, for around 7.9 million euro.
Fonte: Iberian Property