Sonae RP, the holding company responsible for managing the real estate assets of retail of Belmiro de Azevedo Group, is continuing its strategy of selling and leasing out of the company’s real estate assets. Sonae sold off four food retail assets located in Portugal in through sale and leaseback arrangements carried out by Sonae Retail Properties, having achieved a price of of €39.1m. This amount corresponds to the assets whose net book value is estimated at €24.8m. In 2015, the group concluded a similar transaction worth €185m with the capital gains achieved through the deal estimated at €40m. Accounting records for all sales leases made since January record 16 held by Sonae MC in Portugal, and three operated by Worten in Spain, in Madrid, Barcelona and Valencia.
