Abreu Advogados advised Panattoni on the property acquisition process from Saint-Gobain

Abreu Advogados provided legal counsel to Panattoni Iberia, one of Europe’s leading logistics and industrial developers, throughout the entire process of acquiring land from Saint-Gobain, the site of the former glass factory known as Covina, located in Santa Iria de Azóia. The transaction was formalised at the beginning of this year. The next step will be obtaining the necessary construction permits for the Panattoni Park Lisbon-City project, which aims to establish the company’s first logistics park in the Greater Lisbon area.

The logistics park will be developed across three plots, covering a total area of 212,380 m². It will comprise five warehouses with a total gross lettable area of 85,485 m². The construction process is planned to be executed in two phases, with the first phase set to commence in February 2025 and the second phase scheduled for mid-2025. Panattoni also anticipates that the construction of the project will lead to the creation of 200 new jobs.

Abreu Advogados’ legal advisory services to Panattoni Iberia began in March 2021 and encompassed all legal work, from due diligence on real estate assets to negotiating and formalising the Promissory Sale and Purchase Agreement, completing the acquisition of the three properties involved, and handling all necessary documentation, including a prior information request with the Tax Authority.

“We would like to express our sincere gratitude to Abreu Advogados for their comprehensive advice throughout this transaction. Their support was crucial in every stage of the process, from due diligence to contractual negotiations, ensuring compliance, and ultimately, the completion of the deed. For us and the wider logistics sector, Panattoni Park Lisbon-City represents a landmark project, not only due to its strategic location, scale, and versatility but also for its impact on revitalising the local industrial landscape, solidifying its position as a market reference,” stated Gustavo Cardozo, Managing Director and Partner of Panattoni Iberia.

“The Panattoni Park Lisbon-City project represents a significant milestone for the logistics and real estate sectors in Portugal. It was a privilege to coordinate this operation alongside the Abreu Advogados team and to contribute to the success of such a strategic investment,” said Pedro Pais de Almeida, Partner at Abreu Advogados.

The Abreu Advogados team that advised Panattoni Iberia was led by Partner Pedro Pais de Almeida and included the support of Diogo Belard Correia (Professional Partner), Joana Maldonado Reis (Professional Partner), Madalena Bernardes Coelho (Professional Partner), Ana Luísa Ferreira (Associated Partner), Guilherme Mata da Silva (Associated Partner), Filipa Vicente Silva (Senior Associate), and Manuel Santiago (Associate).

Founded in 1986 in the United States, Panattoni has consistently expanded to become the world’s largest private industrial developer, serving over 2,500 clients and developing more than 54 million square metres of projects worldwide.

Panattoni has offices in Poland, Slovakia, Hungary, Austria, Portugal, Germany, Czechia, France, Sweden, Italy, the United Kingdom, the Netherlands, Belgium, Denmark, and Spain. Since its inception, the company has developed projects in Europe totalling over 20 million square metres of logistics space.