Sonae Sierra, APG, Allianz and Elo have entered into an agreement to form a new strategic joint venture comprised of six flagship Iberian shopping centers with a total gross asset value of above €3 billion ($3.4 billion).
The Sierra Prime portfolio includes three assets in Greater Lisbon: Centro Colombo, Centro Vasco da Gama, CascaiShopping), NorteShopping in Greater Porto, Plaza Mayor in Malaga, and the recently opened McArthurGlen Designer Outlet Malaga. The properties — together representing 380,000 square meters — consist of leading shopping centers in prime locations in Portugal and Spain, attracting in total approximately 90 million visitors each year.
Following a successful and long-standing 50/50 partnership in the Sierra Fund, Sonae Sierra and APG on behalf of its pension fund clients have decided to
