Portugal’s Investment Cycle - Global appetite upswing forcing the cycle values too soon?
Portugal’s Investment Cycle - Global appetite upswing forcing the cycle values too soon?
This meeting is exclusively for GRI members.

Portugal’s Investment Cycle - Global appetite upswing forcing the cycle values too soon?

6th February, 2020
Pestana Palace, Lisbon

Overview

Portugal's real estate and capital markets continue to enjoy an upswing of activity; favoured by economic conditions, demand for resi, hotels and offices and global investment appetite. Yet, could the surge of activity create a problem for the cycle in terms of where to find value, what to acquire/develop  and how to capitalise on returns?

GRI Club will gather senior investors, asset owners and operators with invested interested in Portugal real estate for a frank discussion on where Portugal is in the current cycle in order to aid capital and dealflow. Are we just at the bottom of the ladder of creating a wave of institutional investments and long term value or are foreign investors here for a bargain hunt and not playing the long game? 

Discussion topics included:

  • Where in the cycle are we now?
  • Institutional, Opportunistic and Value Add - Who’s in and who’s cashing out?
  • Debt vs Equity
  • Yields compression vs market stabilization
  • What has been the Capital Markets reaction with the SIGI’s appearance? 
  • Investment strategies - Buy/sell as yields start to compress?

Past Agenda

6th February
Close See complete schedule

09:30 - 10:00  |  Registration and Welcome Refreshments

10:00 - 11:00  |  Discussion

11:00 - 11:45  |  Farewell coffee break

Meet our exclusive format.

GRI has no speakers, no presentations. Instead, you have a selection of closed-door discussions where everyone can participate.
Much like a conversation in your own living room, the dynamic environment allows you to engage with your peers in an informal and collegial setting.
Melina Pena Gonzalez
Event manager
Melina Pena Gonzalez
Production Director
GRI Club
07427936391
Thiago Alves
Event manager
Thiago Alves
Head of RE Iberia & Italy
GRI Club
+44 794 383 9783
Melina Pena Gonzalez
Melina
Melina Pena Gonzalez
Production DirectorGRI Club
 
07427936391
Thiago Alves
Thiago
Thiago Alves
Head of RE Iberia & ItalyGRI Club
Thiago is part of  the GRI senior management team in Europe and leads the UK & Ireland, Spain & Portugal real estate relationships in Europe. His extensive & varied career has seen him manage & deliver large-scale national & international events, project manages the delivery of a number of luxury publications in the UK & UAE, providing first class service to his clients. Educated at university level & well travelled, he has begun his career in the medical profession to then start his creative profession in Events, Marketing & Publishing. Thiago is very engaged with international development projects and is fluent in Portuguese, Spanish & English.
+44 794 383 9783
+44 20 7121-5060

Advisory Board Members

Brian  Betel
Brian Betel
Managing Partner
ASG Iberia Advisors
Brian  Betel
http://www.activumsg.com
http://www.activumsg.com
+34 917 37 58 55
Madrid | Spain
Activum IberiaSG invests in niche value add commercial real estate include shopping center and hotel repositioning and residential development opportunities, enhancing assets through hands-on management.
Cristina García-Peri
Cristina García-Peri
Managing Partner
Azora Capital
Cristina García-Peri
http://www.azora.es/
http://www.azora.es/
+34 913 106 370
Madrid | Spain
Grupo Azora es una gestora independiente, líder en España, que comenzó su actividad en 2003 y que en la gestiona activos con un valor de casi 5.000 millones de euros. Su plataforma, una de las más importantes en España, cuenta con más de 200 profesionales con gran experiencia en todo el espectro del ciclo inmobiliario, incluyendo la originación, estructuración e inversión, nuevos desarrollos y reposicionamientos, gestión integral, alquiler y venta de activos individuales o carteras. Azora está especializada en cuatro tipologías de activos: residencial, hoteles, oficinas y alojamientos para estudiantes. Azora gestiona en la actualidad una de las principales carteras de residencial en alquiler en España, con más de 12.000 viviendas, y ha creado la mayor cartera de hoteles en España en régimen de gestión / alquiler con más de 13.000 habitaciones recientemente adquirida por Blackstone a través de la oferta pública de adquisición de Hispania.
Hugo Santos Ferreira
Hugo Santos Ferreira
Executive Vice President
APPII
Hugo Santos Ferreira
http://www.appii.pt/
http://www.appii.pt/
+351 21 387 77 49
APPII represents the biggest cluster of the most significant companies with activity in the Portuguese RE Industry, such as leading development and investment companies, funds and listed companies, all asset class operators, as well as hoteliers.
João Carlos Lelis
João Carlos Lelis
Director Fund Management
Sonae Sierra
João Carlos Lelis
http://www.sonaesierra.com/
Lisboa | Portugal
Sonae Sierra is an international retail RE company dedicated to delivering solutions to meet our client’s ambitions. Sonae Sierra owns 44 shopping centres with a market value around €7 billion, and manages and/or leases 79 Shopping Centres
João Sousa
João Sousa
CEO/Founder
JPS Group
João Sousa
http://www.jpsgroup.pt/
http://www.jpsgroup.pt/
+351 217 581 055
Lisboa | Portugal
A JPS GROUP começou a ser estruturada há cerca de 10 anos. A economia portuguesa entrava em recessão e a necessidade de um novo modelo empresarial era eminente. A JPS GROUP nasce neste contexto de crise financeira, num mercado imobiliário frágil
José  Cardoso Botelho
José Cardoso Botelho
Managing Director
Vanguard Properties
José  Cardoso Botelho
https://www.vangproperties.com/en/about-us/
Lisboa | Portugal
Vanguard Properties is a leading real estate developer mainly dedicated to residential and touristic projects located in Portugal.
Miguel Santana
Miguel Santana
Board Member
Fidelidade Property
Miguel Santana
https://www.fidelidade.pt/PT/particulares/Habitacao/Paginas/multirriscoshabitacao.aspx
Lisboa | Portugal
Fidelidade Property Europe is the real estate arm of the Fidelidade Insurance Company Group. We invest in Portugal and worldwide, assuring the management of Fidelidade’s real estate portfolio.
Paulo Barradas
Paulo Barradas
MD, Head of M&A and Investor Relations
Norfin
Paulo Barradas
+351 21 799 4900
Lisbon | Portugal
Fundada em 1999, sedeada em Portugal, a Norfin é hoje uma referência na gestão de investimentos imobiliários. Gerimos aproximadamente EUR 1.500 milhões de ativos.
Paulo Loureiro
Paulo Loureiro
CEO
Bondstone
Paulo Loureiro
www.louvreproperties.com
www.louvreproperties.com
+351 211 349 157
Lisboa | Portugal
Louvre Capital is a leading real estate investment, development and asset management firm focused on residential and commercial properties in Portugal
Pedro Coelho
Pedro Coelho
Chairman
Square Asset Management
Pedro Coelho
http://www.squaream.pt
http://www.squaream.pt
+351 213 808 290
Lisbon | Portugal
Square Asset Manager is the leading independent Real Estate Asset Manager in Portugal. Total AUM 1,5 Billion. In Regulated Funds, AUM 1,1 Billion with the largest Open Fund with in excess of 23.000 Retail Unit holders.
Pedro Seabra
Pedro Seabra
Partner
Explorer Investments
Pedro Seabra
http://www.explorerinvestments.com/
Lisbon | Portugal
Explorer is Portugal’s leading independent management firm for Private Equity across different asset classes. Explorer currently manages and advises over 1.3BN€ in assets across 4 Business Areas: Private Equity, Growth Capital, Real Estate and Tourism.
Pedro Silveira
Pedro Silveira
Chairman
SiLCOGE
Pedro Silveira
www.sil.pt
www.sil.pt
+351 210 124 500
Pedro Vicente
Pedro Vicente
Administrator/Member of the board
Habitat Invest
Pedro Vicente
http://www.habitatinvest.pt/
Lisboa | Portugal
Habitat Invest is a private real estate investment company founded in 2004. A One-stop-shop, which accompanies all stages of the project, from the identification of opportunities and negotiation to rehabilitation, sale & leasing.
Volkert Reig
Volkert Reig
General Director
Novo Banco
Volkert Reig
Lisbon | Portugal
Novo Banco Real Estate is a top-tier, leading real estate fund manager in Portugal, founded in 1992, duly registered and supervised by CMVM and Banco de Portugal, and consistently the largest and most relevant firms in the industry.
Brian  Betel
Brian
Brian Betel
Managing PartnerASG Iberia Advisors
UK
Brian has worked for 25 years in the RE sector investing in 6 countries covering a wide range of products in Private Equity RE including CRE value add, turnarounds and residential, hotel and resort development in addition to alternative asset classes. Brian has a further specialty in debt and NPL acquisitions and workouts navigating insolvency processes to unlock value in distressed special situations. He spent 14 years in North America and Europe at a major PE fund with his final position as MD in Spain before opening the ASG Iberia office in Spain as the Managing Partner and setting up ASG Homes Propcorp as a Founding Partner currently developing multifamily residential projects in ten cities throughout Spain with 1,750 condominiums.
Cristina García-Peri
Cristina
Cristina García-Peri
Managing PartnerAzora Capital
Spain
Cristina García-Peri is Head of Corporate Development and Strategy for the Azora Group, an independent investment and asset management group with more than €3.7bn of equity raised. Prior to joining the Azora Group in 2011, she worked for 16 years in the investment- banking sector at both Merrill Lynch (2 years) and JP Morgan (14 years), where she held various positions in the area of M&A for 4 years and for 10 years was MD responsible for Corporate Equity Derivatives for EMEA. Her last two years in investment banking took place at Merrill Lynch where, in addition to continuing to lead Corporate Equity Derivatives she also was responsible for Equity Capital Markets for Spain and Portugal.
Hugo Santos Ferreira
Hugo
Hugo Santos Ferreira
Executive Vice PresidentAPPII
Portugal
Hugo Santos Ferreira is the Executive Vice President of APPII – the Portuguese Association of Real Estate Developers and Investors and Director of the Portuguese Confederation of the Construction and Real Estate Sector. Hugo is also an Advisory Board Member of SIL – the Portuguese Real Estate Exhibition and of the Portuguese Green Business Week – Smart Cities Summit. Hugo has a Law Degree and a Master in Public & Administrative Law from the Portuguese Catholic University and was a Real Estate Lawyer at the Iberian law firm Cuatrecasas for almost 10 years up until 2014. He is also the author of several opinion articles and chronicles in the main magazines and newspapers in Iberia and other Southern European Countries.
João Carlos Lelis
João
João Carlos Lelis
Director Fund ManagementSonae Sierra
Portugal
João Lélis joined Sonae Sierra in 2004 as an investment analyst, later becoming Director of the Fund Management business. As member of the executive team, current responsibilities include management of the real estate funds co-owned by Sonae Sierra, of the direct investments outside Iberia and transaction support. Prior to Sonae Sierra, João was a consultant with McKinsey & Company and also with Arthur Andersen. João completed the INSEAD – Advanced Management Programme in 2018 and the INSEAD - International Executive Programme in 2010. He also holds an MBA from the Yale University School of Management (2002) and a BS in Management from Faculdade de Economia do Porto (1997).
João Sousa
João
João Sousa
CEO/FounderJPS Group
Portugal
Formado em Direito, pela Faculdade de Direito da Universidade de Lisboa, o CEO da JPS GROUP, Dr. João Sousa, iniciou o seu percurso profissional aos 23 anos, na área empresarial e dos negócios. Foi com estes primeiros passos e contacto com o mundo profissional, que soube que exercer Direito não era uma opção e decidiu enveredar pela área à qual se estava a dedicar com tanto afinco. Como tal, começou a fazer o seu percurso na consultoria de investimento financeiro e imobiliário, percurso esse que veio, mais tarde, a dar origem à fundação da JPS GROUP. Um dos períodos de tempo deste percurso foi passado no estrangeiro, em múltiplos negócios em África, pelos países da América do Sul e na Ásia.
José  Cardoso Botelho
José
José Cardoso Botelho
Managing DirectorVanguard Properties
Portugal
Experienced investor in Real Estate. Since the end of 2015, focused in the setup and management of Vanguard Properties, a leading developer, focused on residential and touristic projects. Currently the group has 16 projects under development located in Lisbon, Oeiras, Comporta and Algarve. Vanguard’s is currently leading the consortia that will acquire the real estate funds of Comporta Investment Fund. Since 1988, José has been involved in multiple ventures notably in retail, real estate, technology (software, heading systems, medical, etc.). Significant expertise in Real Estate, Funding, Negotiation and Venture Capital. Undergraduate in Management with expertise in Finances. MBA in International Management.
Miguel Santana
Miguel
Miguel Santana
Board MemberFidelidade Property
Portugal
He graduated in Civil Engineering from IST, Lisbon in 1988 and started his career at Proman, Centro de Estudos e Projectos, SA, in the Structural Design Department, with special emphasis on participation in the stability projects at Quinta de Carvalhais of Metro Rotunda II, cold storage centers in the Azores. Among many other residential and industrial projects design. Recently, he has been a member of Hagen Imobiliária SA Board for approximately 2 years. Currently and for the last 6 years he is Board Member of Fidelidade Property Europe, SA., a company 100 % held by Fidelidade Companhia de Seguros, managing all Real Estate Investments of the Insurance Group.
Paulo Barradas
Paulo
Paulo Barradas
MD, Head of M&A and Investor RelationsNorfin
Portugal
Paulo Barradas is a Managing Director at Norfin SGFII and heads the M&A and investor relations department. He has more than 22 years of experience in the international investment banking industry, of which the last 6 years in London as Head of M&A at Haitong Bank. Prior to that, he was Head of M&A for Energy and Infrastructure and Head of Real Estate Investment Banking at Espírito Santo Investment Bank.
Paulo Loureiro
Paulo
Paulo Loureiro
CEOBondstone
Portugal
Paulo Loureiro is the founder and CEO of Bondstone. He was formerly the managing partner of Louvre Capital, a RE developer focused on high-end residential projects. Since 2016, he structured RE projects representing an investment of more than €100 million in Portugal. Prior to founding Louvre Capital and Bondstone, he was an executive director at Morgan Stanley in NY, focusing on the oil and gas industry. He started his career with Schlumberger, the world’s largest oil service company, spending six years in Argentina and Brazil holding various operational and management positions he received his MBA with honors from The University of Chicago Booth School of Business and holds a Master of Science degree majoring in Math and Physics.
Pedro Coelho
Pedro
Pedro Coelho
ChairmanSquare Asset Management
Portugal
55 years, married 2 sons From 2002 - 2017 Square Asset Management - Partner; 1,5 Billion under management in all sectors for retail and institutional clients : Managing the highest Portuguese performance balanced portfolio over the last 8 years in a row according to MSCI/IPD; from 1990 - 2000 ESAF Espírito Santo Activos Financeiros SGPS - Real Estate Managing Director Investments: Portugal, Brazil, Russia.
Pedro Seabra
Pedro
Pedro Seabra
PartnerExplorer Investments
Portugal
Joined Explorer in 2012 and currently is the Partner in the Real Estate Business Area. He worked at CBRE in Madrid in 1987 and opened the Portuguese office in 1988, leading it until 2012. Pedro has a degree in Systems Engineering from Instituto Superior de Matemáticas Aplicadas and a master in Finance and Company Financial Management from ISCTE-INDEG. He is a Fellow of the Royal Institute of Chartered Surveyors (RICS) and appraiser certified by the CMVM.
Pedro Silveira
Pedro
Pedro Silveira
ChairmanSiLCOGE
Portugal
Pedro Silveria is the chairman of SILCOGE, Group SIL's main development company, was founded in 1949. SILCOGE is currently developing over 250000 sqm of property in greater Lisbon area
Pedro Vicente
Pedro
Pedro Vicente
Administrator/Member of the boardHabitat Invest
Portugal
Pedro Vicente is a board member at Habitat Invest, overseeing the BBB, sales, marketing, business development and operations departments at the company. He has developed his activity at the real estate industry as head of legal and marketing and asset manager of a state-owned company- EPUL. He evolved to level Constellation, a Chinese real estate fund from Shanghai, operating in Portugal. He is the co-founder of the Portuguese Institute for Corporate Governance and member of the advisory committee. Habitat Invest is privately-held and an independent real estate investment company, founded in 2004, with investments in urban rehabilitation and new born projects. Projects underway in 2019 represent an investment greater than €300 million.
Volkert Reig
Volkert
Volkert Reig
General DirectorNovo Banco
Portugal
Volkert is presently President of the Board of Directors of Novo Banco Real Estate and has over twenty years of international experience in M&A, private equity and real estate. Prior to joining Grupo Novo Banco (GNB), Mr. Reig served as a Managing Director for Hudson Advisors. Mr. Reig Schmidt has a Master in Law from the Universidad San Pablo CEU and is admitted to practice in the Madrid Bar Association. Volkert is fluent in Spanish, German and English and has a basic knowledge of French and Portuguese.
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