• Transaction / Assets
    Nova Arcada shopping centre in Braga
  • Seller
    CGD
  • Buyer
    MDSR
  • € MM
    45

CGD Sells Nova Arcada Shopping Centre to MDSR for €45 Million

10 January 2020 Portugal’s Caixa Geral de Depósitos (CGD) has sold the Nova Arcada shopping centre in Braga to the Israeli fund MDSR for approximately 45 million euros. The deal represents MDSR’s first acquisition in Portugal. MDSR already has a portfolio with over 30 assets in Spain.

The shopping centre, which began operating under its current name and management in March 2017, has more than 71,000 square meters of surface area. The 108-store mall has an IKEA and a healthcare unit,  Trofa Saúde.

Sonae Sierra will continue to manage the asset.

Original Story: Jornal Econômico – Rita Neto

Translation/Summary: Richard D. Turner