Goldman Sachs has made its debut in Portugal through its Whitehall fund, which has a joint venture with Spain’s Grupo Lar.
The two parties have teamed up with Portugal’s Sonae to acquire the Parque Principado shopping centre in a three-way purchase for €102m (Pts17bn).
The centre is located at Oviedo near Asturias and is next to the A8 motorway.
It will have an Eroski hypermarket, 14,000m2 of shopping, a 20-screen Warner Lusomundo multiplex and 5,000 parking spaces.
Last year, Whitehall and Lar bought three regional shopping centres in San Sebastian, Valladolid and Albacete in Spain for a total of €96.2m (Pts1bn), reflecting a yield of 7.5%.
Lar recently entered into a jv with UK company Grosvenor.
