Finangeste buys Forum Barreiro from Millennium BCP

Finangeste buys Forum Barreiro from Millennium BCP

In partnership with a group of national investors, Finangeste announced the purchase of 100% of the shares of Multi 24 S.A., until now owned by Millennium bcp, and owner of Forum Barreiro shopping centre.

The buyers were not disclosed, but Finangeste said that the shopping centre will be the target of an investment of more than 4 million euros, in order to "make the space more comfortable and increase its attractiveness with a better offer of services, commerce and convenience and proximity solutions to serve the local and regional community".

Opened in 2008, Forum Barreiro is one of the main shopping centres in the South of the Tagus. It has 90 shops, including restaurants, cinemas, a supermarket and others, distributed over 22,500 square metres above ground. It also has 700 parking spaces.

In this transaction, Finangeste had the support of CMS Advogados, EY for the tax part, GEG for technical issues and JLL for valuations.

The deal was closed on December 30, and the value was not disclosed. In February 2021, the property was put on the market for €26.5 million. Forum Barreiro had already been put up for sale on another occasion, in 2019.

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