Square AM confirmed to VI that the purchase value of the two assets amounted to €36 million. CA Património Crescente now holds these assets, and Sonae Sierra continues responsible for its management.
This operation was advised by RPE and JLL, who accompanied Sonae Sierra and Square AM, respectively.
Fernando Guedes de Oliveira, CEO of Sonae Sierra, said in a statement that "we are pleased to complete this business, which reflects our ability to implement a proactive management strategy of our real estate assets and confirms the recognition of the quality market”.
In turn, Pedro Coelho, CEO of Square Asset Management, refers that "these acquisitions are part of the strategy of diversifying the fund's exposure, thus balancing its composition among the various types".
AlbufeiraShopping was the first shopping center managed by Sonae Sierra in Portugal. It has 42 stores and 11,577 m² of GLA, as well as 560 parking spaces.
The Continente Shopping Center of Portimão, has a total of 59 stores and 13,692 m² of GLA, distributed over 3 floors. It has a total of 769 parking spaces.