Deka Immobilien Completes Sale of Portuguese Shopping Centre to Fundo Iberia Shoppings Fund

Deka Immobilien Completes Sale of Portuguese Shopping Centre to Fundo Iberia Shoppings Fund

(IN BRIEF) Deka Immobilien has sold a shopping centre in Torres Novas, Portugal, from one of its institutional real estate funds to the Fundo Iberia Shoppings fund, recently launched by Brazilian bank BTG Pactual and Renato Rique of Allos S/A. The centre, built in 2005 and revitalised in 2019, includes around 12,000 square meters of lettable space and ample parking. Located along the A23 motorway, the property’s sale aligns with Deka Immobilien’s strategy to take advantage of high demand for established shopping centres in Iberia after holding the asset for over 17 years.

(PRESS RELEASE) FRANKFURT, 25-Oct-2024 — /EuropaWire/ — Deka Immobilien has completed the sale of a shopping centre in Torres Novas, Portugal, previously held in one of its open-ended real estate institutional funds. The asset has been acquired by the Fundo Iberia Shoppings property fund, recently established by BTG Pactual, a prominent Brazilian bank, alongside Renato Rique, Chairman of Allos S/A. The financial terms of the transaction remain undisclosed.

The shopping centre, constructed in 2005 and revitalised in 2019, boasts a lettable area of approximately 12,000 square meters, along with ample parking, including 460 underground spaces and 366 outdoor slots. Strategically positioned along the A23 motorway, it benefits from high visibility between Leiria and Santarém, roughly a 75-minute drive from Lisbon.

The sale reflects the fund’s strategy to capitalize on growing demand for established shopping centres across the Iberian Peninsula, following a 17-year holding period of the asset.

About Deka
DekaBank is the securities services provider of the German Savings Banks Finance Group (Sparkassen-Finanzgruppe). Together with its subsidiaries it forms Deka Group. With total customer assets of more than EUR 402 billion (as at 30/06/2024) and 5.6 million securities accounts, DekaBank is one of the largest securities services providers and real estate asset managers in Germany. It provides private and institutional investors with access to a wide range of investment products and services. DekaBank is firmly anchored in the Sparkassen-Finanzgruppe (Savings Banks Finance Group) and tailors its product portfolio to the requirements of its owners and sales partners in the securities business.

The Deka Group’s global real estate expertise is pooled in its Real Estate Division. The management companies, Deka Immobilien Investment GmbH and WestInvest Gesellschaft für Investmentfonds mbH provide management and support for around EUR 50 billion (as at 31/12/2023) in real estate assets.

Media Contact:

Antje Kestler
Head of Press Office
Tel: 069 / 7147 – 5121
email: antje.kestler@deka.de

SOURCE: Deka