LCN Capital Partners sells portfolio of twelve supermarkets in Portugal

Cuatrecasas has advised LCN Capital Partners on the legal terms for the sale to Slate Asset Management of a portfolio of twelve supermarkets in Portugal, worth a total of approximately €150 million.

The portfolio was acquired by LCN Capital Partners, a US private equity fund, in 2015 from the Sonae Group as part of a sale & leaseback agreement. The group of twelve food retail outlets in various urban locations, mainly in the metropolitan areas of Lisbon and Porto, is leased to Continente and Modelo Continent.

The Cuatrecasas team was led by its partner Sofia Gomes da Costa, from the Real Estate and Urbanism department, who previously advised LCN Capital Partners on the acquisition in 2015.

LCN currently manages seven billion dollars of real-estate assets in America and Europe. It has carried out important operations in the Iberian Peninsula, such as the acquisition of 49 retail assets in 2023, including 44 Pingo Doce supermarkets, located in various parts of the country, in what was the largest supermarket transaction ever recorded in Portugal, for which Sofia Gomes da Costa also acted as an advisor.