London-headquartered real estate investment firm Jackyl has purchased a 186,000 m2 development plot in Lisbon with JV partner Bybrook Capital for £25 mln (€28 mln).
The site is located in Lisbon’s Oeiras municipality and marks Jackyl's fourth deal since the firm's creation. The company was founded by former Meyer Bergman executive, Blake Loveless, in February 2018.
'This is our second deal in Portugal this year, and I’m very pleased with it,' said Loveless.
'Our rationale for the deal was based on both positive market fundamentals - including growth potential and relative value - and very specific and nuanced deal characteristics. Our team continues to unearth unique and interesting opportunities across Europe, which, on a risk-adjusted basis, are very compelling,' Loveless added.
The company has now executed a total transaction volume of approximately €500 mln worth of assets across Europe, such as London’s South Bank Estate (including the top 39 apartments in the South Bank Tower) and Praça Rossio in central Lisbon.
Jackyl and Bybrook were advised by Cuatrecasas, PLMJ, VDA, White & Case and Norton Rose on legal matters. Ernst & Young advised on tax and structuring, and Gesvalt on commercial aspects. Architects DunnettCraven and Mario Sua Kay also advised.