The news is reported by PropertyEU, according to whom Sonae Sierra was expecting to earn 250 million euro with this deal. The lack of interess in these assets may have been the main reason for this decision, according to Económico. Both assets are own in equal parts by the Sierra and Sierra Portugal funds.
In Spain, the Portuguese company has a 260 million euro investment plan for the next 3 to 4 years for the renewal of several shopping centres, which include 40 million euro for the renewal of the three units it bought at the end of last year together with Peter Korbacka.
Sonae Sierra also recently bought 50% of Balmain Asset Management, thus entering the Polish market.