Novo Banco sells real estate portfolio for €208M

Novo Banco sells real estate portfolio for €208M

Novo Banco sold a real estate portfolio, composed mostly of logistics assets, from a subsidiary of the bank, GNB Real Estate, for 208 million euros, after a competitive sale process, according to a statement sent to the CMVM.

Also according to the statement, Novo Banco adds that, on average, it had a stake of around 75% of its real estate assets in March this year.

Novo Banco announced to the market, last Monday, the 23rd, the signing of the promissory contract for the purchase and sale of the real estate portfolio, for 208 million euros.

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