Lighthouse Capital, formerly known as Greenbay Properties, returned €600m of capital to shareholders in the year to September, as it divested from most of its infrastructure fund and concessions investments. The group has established itself as a fund that focuses on owning properties directly.
CEO Stephen Delport said the Portuguese shopping malls are benefiting from the growth of Portugal’s economy, which was 1.8% year-on-year for the second quarter of 2019. The extensive refurbishment of its Slovenian centre, Planet Koper, was completed within budget during the year. Vacancies were reduced from 10.5% to 1.3% and footfall at the mall increased 3%.
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Lighthouse Capital completes transition yearAs much as 80% of the property fund’s investments are now in directly held property
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