Business · Companies · 2 hrs ago
Bankinter and Sonae put Ores retail property portfolio up for sale
Bankinter and Sonae Sierra are selling Ores, a property company that owns retail sites in Spain and Portugal.
Its portfolio includes supermarkets, hypermarkets, retail parks and shopping galleries.
The 31 properties are split between Spain and Portugal, with 17 in Spain and 14 in Portugal.
Ores was created in 2016 and listed on Spain’s BME Growth market; Sonae manages its properties and administration.
The portfolio was valued at about €332 million at the end of June 2026 and was 99.8% occupied.
The company is in its final year after extensions to its planned lifespan, and it has already sold five of eight properties put on the market in 2025.
JLL has been selected to handle the sale, either of Ores itself or of its entire portfolio, with the sellers seeking about €350 million.
Bankinter and Sonae Sierra have put Ores, their retail property company, up for sale, seeking about €350 million.
The portfolio includes 31 properties across Spain and Portugal, including supermarkets, hypermarkets and shopping parks.
JLL has been selected to oversee the sale of Ores or its entire portfolio.
The company began selling non-strategic assets in 2025 and has completed five of eight asset sales launched in that process.
At the end of the second quarter of 2026, Ores had a gross asset value of about €332 million and occupancy of 99.8%.
- Who
- Bankinter and Sonae Sierra, the owners of Ores, are selling the company or its portfolio. JLL has been selected to oversee the sale.
- What
- Ores, a retail property company, has been put up for sale, with sellers seeking about €350 million.
- When
- The sale process was reported on 22 October 2026. Ores is in its final year of life in 2026, after three planned extensions.
- Where
- The portfolio comprises 31 properties: 17 in Spain and 14 in Portugal.
- Why
- Ores is in its final year of life, and its board approved a process to sell non-strategic assets.
This story does not have two clearly opposing sides.
Bankinter and Sonae Sierra created Ores.
Ores was listed on the Alternative Stock Market, now BME Growth, after a €196.6 million capital increase.
Ores began a process of selling non-strategic assets and put eight properties up for sale.
Five of the eight asset sales had been completed, and JLL had been selected to oversee the sale of Ores or its portfolio.
- Expected sale proceeds
- About €350 million
- Portfolio size
- 31 assets
- Portfolio locations
- 17 assets in Spain; 14 in Portugal
- Gross asset value
- About €332 million at the end of the second quarter of 2026
- Occupancy
- 99.8%
- Annualised recurring gross rent
- €21.7 million at 30 June 2026