Bankinter and Sonae Sierra have plans to launch the first Portuguese real estate investment trust, Olimpo Real Estate Portugal, targeting a volume of €500 million ($555 million).
Sonae Sierra will be responsible for the management of the real estate portfolio and the administrative management of the company, while Bankinter will be the strategic manager of the vehicle.
“The creation of SIGI ORES Portugal represents a unique and exclusive opportunity for our private clients to diversify their investments, benefiting from an innovative financial instrument in Portugal, to be admitted to trading in the market, managed by reference partners and with potential for profitability, very interesting in the current low interest context,” said Pedro Lobo, Bankinter’s private banking director in Portugal.
