Ores buys Continente hypermarkets portfolio for €26.2M

Ores buys Continente hypermarkets portfolio for €26.2M

Olimpo Real Estate Portugal (ORES), set up by Sonae and Bankinter, this week announced the purchase of a portfolio of three Continente hypermarkets for around 26.2 million euros.

In a statement sent to the CMVM, ORES Portugal said that the hypermarkets were located in Guarda, Cantanhede and Ponte de Lima. Together they have a total GLA of 14,653 square metres.

The three assets have long-term lease contracts with the Continente brand, from the Sonae group.

"With this acquisition, ORES Portugal continues to meet the investment objectives set out in its Business Plan," the statement said.

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