Sonae Sierra takes advantage of the crisis to acquire 6 properties

“Since we entered the market [Ed. n. in 2007], we have analyzed some 40 properties for sale, keeping six of these, for which we have to begin the due diligence process. One of these properties is located in Bucharest, and the others around the country,” said Ingo Nissen, Managing Director of Sonae Sierra Romania. Part of these acquisitions will be made as partnerships, in order to benefit from the local knowledge of owners.

Nissen said that the financial crisis has cut prices demanded by owners by up to 50 percent, and also changed their attitude in the negotiation process. He added that Sonae Sierra does not have liquidity-related problems, as the company registers constant revenues from the 50 commercial centers it has in its portfolio.