Global law firm Freshfields advises Sonae Sierra on €1.5 Billion Shopping Centre Joint Venture in Iberia

Global law firm Freshfields is advising Porto-headquartered real estate operator, manager and investor Sonae Sierra on its joint venture with Norges Bank Investment Management to acquire eight shopping centres in Spain for a gross value of approximately EUR 1.5 billion.

The portfolio assets comprise more than 250,000 sqm of gross lettable area and are all established shopping centres in urban catchments. The joint venture will also selectively consider further shopping centre opportunities in Iberia that fit its strategic and return profile.

The Freshfields team was led by partner Will Bryant with senior associate Hannah Etim-Gorst, from our Private Equity Real Estate practice in London, as well as partner Alfonso de Marcos and associates Íñigo Rios and Hornuez Abad, all from the Global M&A and Corporate team in Madrid.