a Corporate real estate sales In Europe, the Middle East and Africa (EMEA) it raised €25.6 billion in 2022 in more than 700 deals, according to the latest report from JLL’s Raising Capital from Corporate Real Estate. In Portugal, works are already being done in this sense, but it is not yet a “widely adopted option”.
“Although the annual investment volume has declined by 14% worldwide, real estate markets have managed to weather global economic hardships. As a result, Corporate real estate sales It exceeded €25 billion for the fifth year in a row, representing a 9% increase compared to the average for the past ten years, JLL said in a statement, “assets representing 54% of the total value of transactions in the region.
Offices and industrial real estate in the lead
offices that it Industrial real estate Representing 60% of the total value of transactions in EMEA – industrial and logistics real estate alone generated €9 billion in transactions. Transactions such as the international headquarters of Booking.comin Amsterdam, which was sold for 566 million euros in December and which became one of the largest transactions in 2022. In the same month, the British supermarket chain Morrisonss has executed a portfolio sale and leaseback transaction for £220m (€253m).
operations in Retail and entertainment sector by 26%, to reach €3.9 billion. Grocery stores and large commercial areas recorded high levels of activity, as supermarkets sought to free up capital to finance debt restructuring and store improvements. In the health sector, the value of transactions remained stable at 3 billion euros.
In 2022, companies faced many obstacles that affected their growth, increased costs and disruptions in some supply chains. For companies occupying their own holdings, capital release remained an attractive and viable option for generating liquidity, in an environment with higher costs, to complement traditional corporate financing options. “We believe that privately owned or controlled companies will continue to drive this for-profit activity,” said Nick Compton, head of corporate capital markets EMEA at JLL.
Portugal is still “shy” in selling corporate real estate
Gonzalo Santos, Head of JLL Capital Markets, explains, “This trend is in Portugal Sale of real estate owned by companies, often involving the option to remain as tenants, in operations known as Selling and renting back. The biggest motive for companies is to free up capital to invest in the activity or to extinguish debt in the face of higher financing costs.”
However, the official stresses, “This option has not been widely adopted before portuguese business fabric, who often see their property as an integral part of their business, especially in the industrial area.” However, we believe that the sale of private property will be a strategic option that is being considered by more and more companies in Portugal, and the recapitalization makes it possible to reduce the costs associated with owning and maintaining the property,” he says.
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