Bankinter and Sierra launch a vehicle to invest €200M in retail assets in Germany

Bankinter and Sierra launch a vehicle to invest €200M in retail assets in Germany

Bankinter Investment, Bankinter's alternative investment division, in collaboration with Sonae Sierra, a global real estate company, have set a new precedent in their investment strategies with a significant real estate operation. Together, they have created Ores Germany, a new investment vehicle focused on commercial assets in Germany.

Ores Germany manages a portfolio of eight retail assets, evenly split between supermarkets, DIY and home improvement areas. This selection of assets is designed to be resilient to economic fluctuations, the bank said in a statement.

Each of the assets is underpinned by long-term, binding leases with leading German market players in the food and home improvement sectors, including Edeka, Rewe, Aldi and Obi. The total investment of this vehicle amounts to 200 million euros.

Ores Germany guarantees investors entry to prime retail properties in Germany, while ensuring remarkable transparency of cash flows, which are expected to generate regular and reliable dividends from the outset of the investment. Bankinter Investment will manage the investment vehicle, while Sonae Sierra, which already has operations in Germany, will manage the asset pool.

This launch highlights the strategic relevance that Germany represents as a key market for Sonae Sierra's long-term investment and asset management initiatives, and marks Bankinter Investment's entry into the alternative investment arena in the country.

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