Tander’s wholly owned Portuguese subsidiary, Tander Portugal Unipessoal Ltda, has completed its first investment in the Portuguese property market with the acquisition of four retail units on numbers 133, 121, 115 and 107 of Avenida dos Aliados in Porto.
The four units as a whole have a built area of 1,719m² and have traded at €15.7 million in a deal which has been financed with the company’s own equity. Three of the units are let and only one is currently vacant.
Tander Inversiones SOCIMI focuses on the acquisition of High Street retail properties and the company’s primary aim is to create a portfolio of properties located in the major arteries of Iberia’s most relevant cities.
The company has defined its investment strategy, based on the idea that the objective is to be known as the SOCIMI with a very specific and exclusive asset typology (exclusively retail assets), located in the best streets of Spain, therefore providing potential investors of the SOCIMI with maximum security and stability of income.
The Chairman of the SOCIMI is Antoine Chawky who has 30 years of experience in real estate management as General Manager of Premiere Alliance in Canada which manages $300 million in assets in Canada and Europe. Mr. Chawky holds a Bachelor of Commerce from Montreal’ s McGill University and is a Certified General Accountant.
Also involved in the Spanish REIT is Andrea Méa who has worked closely with Mr. Chawky since 1996. Mr. Méa became a Certified Chartered Accountant in 1992 and holds a graduate diploma in Public Accounting from Montreal’s McGill University and a Bachelor of Commerce from Concordia University, also located in Montreal.