Europi Property Group is a Stockholm real-estate investor, founded in 2019, that applies a private-equity playbook to European property; its portfolio had a gross asset value of EUR 722 million at 30 June 2026. Portugal is one of its main markets: Europi launched the Ecologis logistics platform there at the end of 2021 and, after bringing in Incus Capital in December 2025, keeps a 51% stake in its 11 warehouses (160,000 sq m, mostly in the Lisbon metropolitan area), while its Liv Lisbon strategy buys and lets apartments in Alcântara, where Europi is also involved in the development of LX Factory.
Europi’s largest Portuguese commitment is Ecologis, a logistics platform the company says it launched at the end of 2021 as a joint venture with the Portuguese investor Bedrock Capital Partners. When it was formally presented in February 2023 it held ten big-box and last-mile warehouses totalling 152,000 sq m, bought in five transactions and concentrated in the Lisbon metropolitan area; Europi named Greenvolt as its partner for rooftop solar on the buildings. In October 2023 Ecologis made its first acquisition in the Porto area, Estrada Velha, a 7,200 sq m last-mile warehouse in Matosinhos occupied by an international medical-equipment manufacturer, taking the portfolio to 11 assets and 160,000 sq m. Europi says its Adarse asset was the first logistics property in Portugal to achieve a BREEAM In Use Excellent certification.
On 29 December 2025 Europi and Incus Capital announced a joint venture to grow Ecologis into an Iberian platform covering Portugal and Spain; Europi’s year-end report says it partly realised its investment while keeping a strategic 51% stake, so Ecologis Portugal is now equity-accounted, and the platform was refinanced in the second quarter of 2026. Europi was advised on the deal by Morais Leitão, Ernst & Young and NewCycle, and Incus by PLMJ, Savills and Deloitte. The second Portuguese strategy, Liv Lisbon, aggregates freehold residential apartments in Alcântara, which Europi describes as an up-and-coming district where it also controls part of the regeneration process through the development of LX Factory; two rental buildings with ten units were added in the fourth quarter of 2025, and a construction and development financing facility for LX Factory Plot 10 was agreed after the second quarter of 2026. The Portuguese interests sit under Europi PT Holdco Unipessoal Lda (NIF 518035697), a Lisbon holding company incorporated on 5 March 2024.
Europi is a Swedish investor that built a Portuguese operating platform with Portuguese partners and advisers rather than buying into an existing one: Ecologis reached 11 warehouses and 160,000 sq m within two years of its launch, and its partial sale to Incus Capital at the end of 2025 is a documented case of a Nordic investor realising part of a Portuguese logistics bet while staying in control. The regulatory reports show the trade-off: with Ecologis equity-accounted, Europi’s rental income for January–June 2026 was EUR 11.7m against EUR 14.0m a year earlier.
On 31 August 2026 Europi’s interim report for January–June 2026 recorded the refinancing of Ecologis Portugal in the second quarter and, after the period, the LX Factory Plot 10 financing facility. The year-end report for 2025, published on 27 February 2026, confirmed the partial realisation of Ecologis with a retained 51% stake and the purchase of the two Liv Lisbon buildings. The Incus Capital joint venture was announced on 29 December 2025.
Sources: Europi Property Group press releases (21 February 2023, 12 October 2023, 29 December 2025), year-end report January–December 2025 (27 February 2026) and interim report January–June 2026 (31 August 2026); europi.se investment-strategy, Liv Lisbon and team pages; racius.com and nif.pt (Europi PT Holdco Unipessoal Lda). Spotted an error? Email miguel@fractio.se.
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