Portuguese REIT joins stock market

 In News

Olimpo Real Estate Portugal is the first Portuguese REIT to get listed on the Lisbon stock market Euronext.

A (commercial) real estate investment trust (REIT), Olimpo Real Estate Portugal SIGI, S.A. (Ores Portugal) was created by Portuguese bank Bankinter and real estate management company Sonae Sierra at the end of 2019.
It was listed on Euronext Access Lisboa on Wednesday, 24 June. The REIT (SIGI in Portugal) is 12% held by Bankinter and 5.14% by Sonae Sierra with the remaining 82.86% aimed at small shareholders and has a total asset value of €50 million. Each of its 12,550,000 shares is currently worth €4.
Any investor can now acquire shares in ORES Portugal through Euronext Access and diversify their portfolio, investing in income bearing real estate assets that have long-term contracts and well-known operators located in the largest urban centres on the Iberian peninsula.
Among the main foci for investment is luxury high-street premises, supermarkets, hypermarkets, retail parks, rented stand-alone shop/office units rented by solvent tenants on long-term contracts.
Less than 20% of its portfolio is non-commercial. In a communiqué the SIGI reveals that it has already identified various real estate assets that could form part of its short-term investment portfolio in Portugal.