Värde Partners wants to sell Imopólis for €250M

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The Americans had already tried to sell Imopólis in 2022, but received only four bids and well below the asking price.

Värde Partners intends to sell the Portuguese management company Imopólis. The Americans had already tried to sell the Imopólis in 2022, however received only four proposals and well below the value requested, about 250 million euros, advanced the Eco on Wednesday, with sources in the real estate market.

The US company aims to divest the real estate market in Europe, so it continues to search for a possible buyer for Hexapólis, a company that owns Imopólis and the office complex Burgo in Porto.

Värde Partners bought these assets from the British JP Morgan for about 187 million euros in 2018. The four proposals that the Americans received, when the process of selling Hexapólis was launched on the market in the first half of last year, were mostly from international funds.

The proposals were slightly above 150 million euros, well below the amount requested by the Americans, reveals ECO.

The consultants, who are involved in the operation, are trying to get the company to lower its asking price of 250 million euros, in order to facilitate a possible deal.

It should be noted that Hexapólis owns the management company Imopólis which, in turn, owns the real estate fund Imodesenvolvimento. In this fund are assets valued at around 165.9 million euros, according to the CMVM: the Adamastor Building, located in Parque das Nações, valued at about €52.5 million; the Sweden Park, valued at about €58.5 million; the Holland Park, valued at about €49.4 million; the Terraços de Bragança building, valued at about €2 million; the Alto da Barra Galleries, valued at about €3.32 million; a plot of land in Linda-a-Velha, valued at about €3.7 million.

 

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