Fundo de Investimento Imobiliário Fechado (FIIF) - PORTUGAL
Sale of 100% shares
THE FUND IS made up of 2 no properties/buildings, one with around 5,000 m2 (leased to one of the largest companies in the world), and the other with around 12,000 m2 of construction area and leased to around 20 technological companies, located in MAIA - Porto.
The 2 buildings have been fully occupied for over 10 years, with a waiting list (mostly companies that are already there but need more space). They are located in a luxury gated community, where other large companies are also located.
The tenants carried out work on the properties and the rents were maintained. These agreements expire between 2025 and 2028.
Gross revenue is the annual revenue that will be updated in January 2024 to approximately €1,500,000 + VAT, after which we have to deduct the costs of the condominium, security, cleaning, and water and electricity in common areas.
Rents will be negotiated reaching around €2.0 M + VAT in 2028.
Obviously and as already mentioned, more than the income, the Fund is a unique tool in our country and in the Eurozone. It has to be seen as a vehicle to enter the national market, with fantastic, almost banking tools. Banco de Portugal is closing all the Funds it can and is making it as difficult as possible to open new Funds.
Furthermore, all real estate transactions carried out with the fund do not require transaction taxes (currently this value is in the total order of 9% of the transaction value).
