Aberdeen Asset Management was the assets’ buyer, via the Aberdeen European Balanced Property Fund (AEBPF), with a total of 22.000m² of rentable area, which will continue to be rented to Continente, according to Idealista and Spanish Real Estate. The assets are located in Fafe, São Cosme, Vila do Conde and Mafra.
For the seller this operation generated an estimated gain of €10.3 million, and the level of retail assets held by Sonae MC positions at 48%.
Sonae explains in a statement that this operation follows a monetization strategy of its real estate assets, «while maintaining adequate operational flexibility».
With this acquisition, Aberdeen reinforce its presence in the Iberian market.