204
204
  • Transaction / Assets
    a portfolio of shopping centres
  • Seller
    Sonae Sierra
  • Buyer
    Harbert Management
  • € MM
    170

Sonae Sierra Sells Portfolio of Shopping Centres to Harbert for €170 Million

14 January 2020 – The US investment group Harbert Management has acquired a portfolio of shopping centres from Sonae Sierra for 170 million euros. The deal represents the US firm’s first acquisition in Portugal. The two firms finalised the sale at the end of 2019.

The portfolio includes LoureShopping, a 42,000 m² shopping centre on the outskirts of Lisbon and the 44,000 m2 Rio Sul, in Seixal, both of which Sonae Sierra controlled together with the German fund Deka. Sonae also sold the 8th Avenue shopping centre, in São João da Madeira. The mall has a total of 20,000 m2 of surface area, including 125 stores.

Original Story: Idealista

Translation/Summary: Richard D. Turner