Sonae Capital Sells Aparthotel in Lagos for 20.65 Million Euros

6 November 2020Sonae Capital has reached an agreement to sell the Aqualuz – Suite Hotel Apartments in Lagos, Algarve, to the Imofomento fund, which is managed by BPI. The aparthotel sold for 20.65 million through Sonae Capital’s subsidiary Bloco Q, in a deal that is expected to be finalised by the end of the year.

According to a statement, the transaction “is part of Sonae Capital’s strategy of selling non-core assets, whose aim is to boost the growth of its portfolio and maintain a capital structure appropriate to the type of businesses and assets held by the group.”

Original Story: Jornal de Negócios – Pedro Curvelo

Translation/Summary: Richard D. Turner