The Portuguese retail center Nosso Shopping, located in Vila Real, has been acquired by L Catterton, the investment arm of Louis Vuitton Moët Hennessy (LVMH). The transaction, valued at €78.83 million, represents a significant development in the Portuguese commercial real estate sector.
Prime Location and Key Features
Opened in 2004, Nosso Shopping is a leading shopping destination in the Douro region of northern Portugal. It spans three levels, offering approximately 21,000 square meters of leasable retail space, along with over 1,000 parking spaces.
The center enjoys a unique market position with no comparable competitors within a 100-kilometer radius, giving it exclusive reach across a broad consumer base. Tenants include popular brands such as Zara, Pull&Bear, Bershka, FNAC, Sportzone, Tous, Alcampo, and Nos Cinemas, as well as a variety of dining outlets.
Investment History and Growth
In 2015, Trajano Iberia purchased Nosso Shopping for €53 million. Over the following years, the company invested an additional €4.4 million into upgrades that included:
- modernizing the food court,
- enhancing lighting and common areas,
- adding a children’s play zone.
These improvements led to a 12% increase in overall sales and a 5% rise in rental rates, with the center achieving 100% occupancy by the time of sale.
Strategic Transaction Overview
The €78.83 million deal reflects a nearly 50% appreciation in property value over a decade. For L Catterton, this acquisition is a strategic expansion into stable, income-generating assets with growth potential in underpenetrated regions.
This move also forms part of Trajano Iberia’s exit strategy, as evidenced by the earlier €96.3 million sale of the Alcalá Magna shopping center in Madrid to Lighthouse Properties in March 2025.
Broader Market Significance
This transaction highlights the growing interest of international investors in regional retail centers in Portugal. Such assets, especially those with strong tenant mixes and exclusive geographic reach, are seen as reliable and resilient investments amid changing consumer habits.
Outlook and Future Opportunities
Under new ownership, Nosso Shopping is well-positioned for further development. Potential areas of enhancement include:
- expanding digital integration,
- developing loyalty programs,
- diversifying entertainment offerings,
- incorporating sustainability initiatives like solar energy systems and eco-efficient materials.
Conclusion
The sale of Nosso Shopping to L Catterton marks a notable shift in Portugal’s commercial property landscape. As part of the prestigious LVMH ecosystem, the shopping center stands to benefit from continued innovation and strategic asset management. This acquisition underlines the value of well-maintained regional retail properties in delivering long-term returns and attracting world-class investment interest.
