Sonae Sierra’s SIGI pays €26.2 million for three Continente hypermarkets
Ores, which results from a partnership between Bankinter and Sonae Sierra, adds three assets located in Guarda, Cantanhede and Ponte de Lima to its portfolio.
Olimpo Real Estate Portugal (Ores), the first real estate investment and management company (SIGI) to be set up in the country, announced the acquisition of three real estate assets worth €26.2 million.
This portfolio includes hypermarkets in Guarda, Cantanhede and Ponte de Lima, with a total gross leasable area of 14,653 square metres, which “are subject to long-term lease agreements with Continente.”
“With this acquisition, Ores Portugal continues to meet the investment objectives set out in its business plan,” the company said in a statement sent to the Portuguese Securities and Exchange Commission (CMVM).
Ores was the first SIGI to emerge in Portugal, having debuted on the stock exchange in June 2020 at a value of €502 million. It results from a partnership between Bankinter (which operates as the strategic manager of the vehicle) and Sonae Sierra (which is the manager of the company’s real estate portfolio).
