Property Core acquires two retail properties for €4.6M

Property Core acquires two retail properties for €4.6M

The Property Core fund, the result of a partnership between Fundo de Banco Best and Square AM, purchased two retail properties, which are leased to Jerónimo Martins and Sonae, for around 4.6 million euros, including the costs of acquisition (namely the IMT) and the values of the CMVM.

At stake are Pingo Doce from Ponte de Sor, acquired for 3 million euros from a Santander Group Fund, with a stipulated 15-year contract, and Max Mat from Valongo, acquired for a value of 1.6 million euros. , with a 10-year contract. Both businesses then total 4.6 million euros, being two separate businesses that fall within the Fund's investment policy.

Therefore, Best and Square AM Bank Fund consolidates long contracts with solid tenants.

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