This operation, which was closed at the end of last year, is Harbert’s first in Portugal and it was advised by CBRE.
This was one of the largest retail transactions of 2019, a segment which registered 971 million euro in investment, according to Cushman & Wakefield’s latest report.
The 42.000 sqm LoureShopping shopping centre, was managed in equal parts by Sonae Sierra and German fund Deka; the 44.000 sqm Rio Sul shopping centre, in Seixal, belonged to Sonae Sierra and a pan-European fund and the 20.000 sqm 8ª Avenida shopping centre, in São João da Madeira, with 125 shops was solely controlled by Sonae Sierra.
This deal had already been announced by EuroProperty, published by PropertyEU, last October, when the companies were at advanced stages of negotiation. The same publication advanced at the time that the portfolio’s yearly yield should be around 8%.
Last Update at 5:24 p.m.