Bankinter Group and Sonae Sierra are set to launch ORES SOCIMI on Wednesday. The real estate investment vehicle will funnel €400m into small and medium-sized commercial real estate properties in Spain and Portugal. About 65 percent of the capital will be invested in Spain with the remaining invested in Portugal.
The main investment focus will be on hypermarkets and supermarkets, retail parks, retail high street, in addition to standalone units with long-term tenants. Shopping centers will not be included in the asset portfolio.
ORES SOCIMI will be chaired by Fernando Moreno, director of commercial banking at Bankinter. Sonae Sierra will be in charge of asset management.
