Leiria Shopping in the central district of Leiria has been sold by Portuguese retail giant Sonae Sierra to German group DWS, which is part of the Deutsche Bank, for €128 million.
However, Sonae Sierra will continue to manage and commercialise the units within the shopping centre. The Portuguese group said in a statement that the deal follows “a capital recycling strategy” which it has been successfully implementing.
“We are very happy about this deal, which is an important mark in the implementation of Sonae Sierra’s strategy and is proof of the high quality of the property assets we invest in,” said Sonae Sierra CEO Fernando Guedes de Oliveira in a statement.
He added that the fact that Sonae Sierra will continue to manage the shopping centre shows the “confidence our institutional investors have in our experience and know-how and continue to choose us as an operational partner of choice in the various parts of the world in which we operate”.