According to a report by idealista, the transaction marks Castellana Properties' entry into the national market and promotes its growth in the Iberian Peninsula, adding almost 75,000 square metres (m2) to its real estate portfolio.

The transaction was announced by the company to BME Growth, the market in which it is listed, highlighting that these three shopping centres will represent a net profit of six million euros between October 2024 and March 2025. For the full financial year of 2026, the expected profit is 9.5 million euros, already taking into account the more than 1.5 million euros that will be allocated to projects to improve these assets.

The shopping centres in question are Loures Shopping, Rio Sul and 8ª Avenida. The first is located on the outskirts of Lisbon and has 44,745 m2 of leasable area, of which Castellana will purchase 29,398 m2, including the stores where brands such as Zara, Bershka, Pull&Bear, Stradivarius, H&M, Foot Locker and C&A are located. This space receives around six million visitors annually, with sales of 77 million euros.

Rio Sul is also located 20 minutes from the centre of Lisbon, on the capital's South Bank, and has an area of ​​46,006 m2, of which 23,515 m2 are included in the transaction, with an Ikea among the businesses included. The annual footfall is eight million people and sales represent 98 million euros.

8ª Avenida is located in São João da Madeira, a city located about 40 minutes from Porto. It has 28,923 m2, of which 21,710 will belong to the Spanish Socimi. It receives around six million visitors and sales are around 58 million euros.

It should be noted that the area that Castellana Properties did not acquire in the three assets belongs to the Continente hypermarket, which is not included in the scope of the transaction. The transaction is still subject to financing approval and is scheduled for completion in October 2024.