ORES reaches €381.4M portfolio

ORES reaches €381.4M portfolio

In terms of locations, «there is a balanced distribution» since almost 60% of the assets are located in Spain and the remaining 40% are located in Portugal, revealed the REIT in its quarterly report made available by Mercado Alternativo Bursátil this Tuesday. 

In terms of typology, the hyper and supermarkets segment is more relevant (59.2%), representing the vast majority of its assets. Retail parks (14.3%), large retail stores (13.5%) and retail spaces (13%) all have similar shares within the REIT’s portfolio. In gross income alone, the REIT has already accrued a total of 22.1 million euro until September.

ORES’ latest acquisition was the shop at number 26 Calle San Marcial in the Spanish city of San Sebastian which is currently leased to group Inditex (more specifically to brand ZARA), for which it paid 10.9 million euro. This was the REIT’s third purchase this year. The other two were also carried out in Spain: a "Stradivarius" shop in Burgos for 5.2 million euro and a supermarket leased to Mercadona in Granada for 6.8 million euro.

In order to keep following its divestment path within Iberian retail – which according to the company, should follow the «growth rhythm accompanied by the economic growth» -, ORES has the support of its developer partners Bankinter and Sonae Sierra which have already invested 19.8 million euro and 7.4 million euro on the REIT during this period, respectively.

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