Bankinter y Sonae ponen a la venta su Socimi comercial

Bankinter and Sonae are putting their commercial subsidiary, Socimi Ores, up for sale for approximately 350 million euros. The subsidiary holds a portfolio of over thirty assets spread across Spain and Portugal, including supermarkets, hypermarkets, shopping centers, and galleries. According to market sources, the transaction is expected to generate around 350 million euros.

Upon reaching its final year in 2026, after three planned extensions, the board of directors has approved a process to divest non-strategic assets from the portfolio, which began in 2025. So far, eight assets have been put up for sale, with five transactions already completed. Now, following a selection process involving several consultants, JLL has been chosen to handle the sale of the entire asset portfolio or Socimi.

Bankinter and Sonae Sierra founded Ores in December 2016, and launched Socimi on the Alternative Market (now BME Growth) two months later. Ores Socimi made its debut in this market after a capital increase of 196.6 million euros was subscribed, predominantly by Bankinter's private banking clients. In addition to this investment, Sonae is responsible for the real estate management of the assets and the administrative management of the company.

As of the end of the second quarter of 2026, Ores Ores boasts a diversified portfolio of 31 assets, with 17 located in Spain and 14 in Portugal. The gross asset value (GAV) of the portfolio stands at approximately 332 million euros, with a median leverage of 43.5%. Of the total portfolio value, 52.3% is attributed to Spanish properties, while 47.7% is represented by Portuguese real estate.

By asset type, 22.5% are supermarkets, 21.1% are large-format food centers, 19.7% are hypermarkets, 16.1% are shopping centers, 13% are medium-sized commercial spaces, 5.6% are mixed-use developments, and 2% are gallery spaces.

Notable tenants of the Socimi include companies such as Continente, Carrefour, Mercadona, MediaMarkt, Eroski, Pingo Doce, Conforama, Forum Sport, and Worten. The portfolio maintains a 99.8% occupancy rate. Based on current lease contracts, the Ores portfolio generates regular annualized gross rents of 21.7 million euros, considering new contracts signed and those in effect as of June 30th. This translates to a gross return of 6.5% on the June 2026 valuation of the portfolio.