371
371
  • Transaction / Assets
    Algarve Shopping and the Albufeira Retail Park
  • Seller
    CBRE GIP and Sonae Sierra
  • Buyer
    Frey
  • € MM
    179.3

Frey Acquires Algarve Shopping and the Albufeira Retail Park for €179.3 Million

5 August 2019

The French firm Frey, which specialises in commercial urban planning, bought Algarve Shopping and the Albufeira Retail Park from CBRE GIP and Sonae Sierra in a deal worth 179.3 million euros.

The shopping centre has more than 7.5 million visitors a year and a occupancy rate close to 100%.  Inaugurated in 2001 and expanded in 2004 to a total of 60,000 square meters of surface area, the shopping mall will continue to be managed by Sonae Sierra.

Original Story: Jornal Expresso – Margarida Cardoso

Adaptation/Translation: Richard D. K. Turner