“The first shopping mall acquired by this fund was Tavira Gran-Plaza, in the Algarve, and other acquisitions are planned for the coming months, after the purchase of TorreShopping”, says CBRE in a statement reported by idealista.

“TorreShopping, opened in 2005 and underwent a significant renovation in 2021. It is the main shopping centre in its area of ​​influence, reaching a total of 230 thousand inhabitants within a 30-minute drive, and has a total GLA of 12,200 square meters, 49 stores and 700 parking spaces. The asset is almost completely occupied, registering an influx of around two million visitors per year”, says the note.

According to CBRE, the mall has several fashion brands, such as Springfield, Lion of Porches and Tiffosi, as well as other reference brands, such as AKI, FNAC, Rádio Popular, Cinemas Castello Lopes and Espaço Casa.

Quoted in the document, José Hermozilha, Head of Investment Properties at CBRE, says that the transaction “marks the end of a decade of highly successful partnership, which began in 2014, when CBRE began managing the mall, following its acquisition by Deka”.

“Throughout this period, we played an active and continuous role in advising on the mall’s redefinition and managed to increase sales. This reinforces the idea that retail assets that perform well and have an effective management strategy demonstrate resilience and attract investor interest, even in the current market environment”, he concludes.