Lone Star purchased four shopping centers Dolce Vita bankrupt – Daily News – Lisbon

The US fund manager of Lone Star, which last April bought the resort of Vilamoura by 200 million euros, are the new owners of the four Dolce Vita shopping centers that were bankrupt. The ‘malls’ had been put up for sale last month of May and the acquisition was confirmed to the newspaper public by Jorge Calvete, real estate insolvency administrator.

The four shopping centers At issue are the Dolce Vita Porto, close to Dragao Stadium, the Dolce Vita Douro in Vila Real, Dolce Vita Coimbra and Dolce Vita Monumental in Lisbon. The Lone Star is the holder of society LSREF3 Octopus Investments, the main creditor in the bankruptcy proceedings of shopping centers.

The Dolce Vita had been acquired in 2006 by the Spanish group Chamartin the Amorim Group, owned by businessman Américo Amorim , for a value greater than 500 million euros. – even though the number has never been officially confirmed

According to the public , the insolvency of shopping centers was due to the weight of the debt burden that Chamartín contracted for the acquisition, since revenues from ‘malls’ cover current expenditures. Because of the debts, Chamartín had lost the Dolce Vita Braga to the Caixa Geral de Depósitos, which in turn entrgegou Sonae Sierra for sale. However renamed New Arcade, will host an IKEA store, the fourth in Portugal.

The insolvency administrator told the newspaper that, except for the Dolce Vita Porto, the remaining three shopping centers received more than a offer to purchase, but did not disclose the interested. The Dolce Vita Porto went on sale for 41.5 million euros; already Vila Real, was on sale for 43.4 million. The debts of the Dolce Vita Coimbra were 77.8 million euros and the Dolce Vita Monumental came to 79.1 million.