trending Market Intelligence /marketintelligence/en/news-insights/trending/jYrE_s_3AyKGEEhxYIxzew2 content esgSubNav
Log in to other products

 /


Looking for more?

Contact Us
In This List

Sonae Sierra JV to buy 3 Spanish shopping malls for €485M

Blog

Real Estate News & Analysis: April Edition

Blog

COVID-19 Impact & Recovery: Investment Banking

Blog

COVID-19 Impact & Recovery: Governments

Blog

COVID-19 Impact & Recovery: Academia


Sonae Sierra JV to buy 3 Spanish shopping malls for €485M

Portugal-based Sonae Sierra and Slovakian property developer Peter Korbačka agreed to buy three shopping malls in Spain for a total of €485 million, Institutional Real Estate Inc. reported.

The deal involves the GranCasa mall in Zaragoza, the Valle Real shopping center in Camargo and Max Center in Barakaldo.

The properties were sold by a 50/50 joint venture between the Sonae Sierra-managed Sierra Fund and CBRE Global Investors LLC's CBRE Retail Property Fund Iberica, the Dec. 19 report added.

Korbačka will hold 87.5% of the three-property portfolio, while Sonae Sierra will own the remaining 12.5% and fully manage the assets.