Portuguese-based SIGI Olimpo Real Estate Portugal has completed its first real estate acquisitions in the country, spending €37 million on five urban commercial areas. SIGI sealed the deal for the portfolio of supermarkets and hypermarkets, which together total 21,227 sqm. The assets are located in Porto, Santa Maria da Feira, Covilhã, Faro and Amadora. The deal is the first since Sonae Sierra and Bankinter launched their €100 million investment vehicle eight months ago. Alexandre Fernandes, Head of Asset Management at Sonae Sierra, said the transaction represented a key step in the execution of the company’s investment strategy.
