MIMCO, a pan-European real estate investment group already established in Luxembourg, Germany, and France, is now offering its first investment in Portugal.
Born from the passion for real estate shared by two partners, MIMCO has become the ideal solution for real estate investments aligned with the cities of tomorrow. Previously reserved for professional investors or similar (family offices, private banks, institutional investors, etc.), their offerings have expanded with the launch of MIMCO Platform. This new platform allows clients to subscribe online through their financial advisors. The investment opportunities offered (funds or club deals, in equity or private debt) are all based on a ‘value-added’ strategy, focusing on the development, renovation, and revitalization of obsolete buildings or industrial wastelands with the goal of resale within five years.
Restructuring and reconversion of a historic asset in the heart of Lisbon
The first venture proposed by MIMCO in this context involves a residential asset located in Lisbon, Portugal: the “Santos Townhouse”. Completely renovated, this residential building spanning 3823 square meters will be converted into a managed residence featuring 35 high-end tourist apartments and two ground-floor retail spaces.
Scheduled for completion in the second quarter of 2025, the renovation works will enhance the building’s energy efficiency.
Driven by its commitment to providing turnkey investments to its clients, MIMCO has entrusted the management of the “Santos Townhouse” to Ando Living, a Portuguese hotel operator specializing in residences and tourist apartments.
An investment that is not only compelling but also sustainable. The rehabilitation transforms the “Santos Townhouse” into a green real estate investment, expected to appreciate in value in the future. It aligns perfectly with MIMCO’s ethos of responsible and virtuous investing, as evidenced by its endorsement in 2020 of the United Nations-supported “Principles for Responsible Investment” (PRI) and in 2021 of the Global Investor Statement to Governments on the Climate Crisis. The same year saw the launch of MIMCO Grand-Ducal, the group’s first ISR (responsible investment label) certified fund, followed by MIMCO Revitalize.
Portugal, an Eldorado for investors
While Portugal is already recognized for its numerous benefits among investors looking to plan for retirement, it also has much to offer to those who decide to invest in tourist accommodation. Highly favored for urban getaways, Lisbon is a vibrant, culturally rich city with a human scale. In order to enhance its appeal, Lisbon has invested significantly in tourism, which grows steadily each year. Therefore, tourist rentals often enable investors to quickly recoup their investment, often made at prices lower than those found in southern France, for example.
Regarding taxation, it is also advantageous, as there are no constraints regarding short-term rentals, nor any duration limits. The market is well regulated, providing good security for property investor. Finally, MIMCO relies on strong local partnerships. These stakeholders, with their deep understanding of their market and territory, ensure comprehensive management of various assets, so that investors do not have to worry about the inherent peculiarities of each country.
An investment that aligns with a pan-European strategy
The first asset to be launched in Portugal, the ‘Santos Townhouse’ is the logical extension of MIMCO’s existing pan-European investment strategy. Following ventures in France, Germany, and Luxembourg, MIMCO is now focusing on the Iberian Peninsula, particularly Spain and Portugal, where real estate markets offer numerous opportunities. This approach allows for investment diversification.
With this vision, the MIMCO Group currently oversees more than 1 billion euros in assets and ongoing developments, distributed across 18 collective investment funds and club deals.
Warnings: Any investment in unlisted companies carries various risks, including the risk of capital loss, illiquidity, and lack of valuation. The performance objectives mentioned do not guarantee the achievement of these performances. Past performance is not indicative of future results. They may vary upwards or downwards. This communication is not an investment recommendation. Each investor must conduct their own due diligence before investing and consult with professional advisors. The investor must read the Offering Memorandum before making any investment decision. The public offering is made under Article L.411-2-1 2° of the Monetary and Financial Code and is not subject to the establishment of a prospectus as defined in Regulation No. 207/1129.
