APG assumes control of Freeport and Porto Fashion Outlet

APG assumes control of Freeport and Porto Fashion Outlet

According to the notice published by AdC (Portuguese Competition Authority), the Dutch company acquired full control of VIA LP, the company which owns the two outlets in Portugal and a further 11 in Europe, controlled by APG and Hammerson and initially created by Stichting Depositary APG Strategic Real Estate Pool, a real estate mutual fund.

APG carried out the operation by buying Hammerson’s share, thus having complete control over VIA LP, quoted Lusa and Idealista.

It should be reminded that at beginning of August APG and Hammerson reached an agreement to sell 50% of Via Outlets to the Dutch fund for 301 million euro, which was announced during the British company’s presentation of its first semester’s results, further reporting that the transaction was, at the time, pending approval from its shareholders.

The company currently controls 11 outlets in 9 European countries, 4 of them in Iberia. These assets have a total of 1.340 shops and 267.000 sqm.

This is not the first operation of this type to be carried out by pension fund APG this year. In February the company sold together with Sonae Sierra, its 50% share of a 6 shopping centre portfolio, 4 of them located in Portugal and 2 in Spain, to Elo and Allianz. The Dutch company also acquired Hotel Edition Madrid from KKH Property Investors for 220 million euro.

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