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Sonae Sierra - Valuation of Sonae Sierra’s Property Portfolio

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The Challenge

In 1997, Sonae Sierra, a Portuguese property company that manages an international shopping centre portfolio, retained C&W to conduct the valuation of its whole portfolio in order to proceed to a listing on the stock exchange of part of its capital on a worldwide basis. Today, the property portfolio managed by Sonae Sierra exceeds 40 shopping centres in Portugal, Spain, Italy, Greece, Romania, Germany and 10 shopping centres in Brazil.

The Solution

Through an umbrella contract, C&W provides a seamless valuation and consultancy service through a single contact point in Lisbon, carrying out valuations since 1997. The Brazilian assets have been valued directly by our São Paulo office since 2008. Our Valuation & Advisory retail specialized team provides Sonae Sierra with an international overview of the real estate market, resulting on a consistent valuation approach of all the assets. One of C&W V&A added value has been the development of valuation deliverables based on ARGUS software, supporting and working side by side with the client in the analysis of the performance of each asset.

The Results

At the end of 2001, C&W assisted the delisting process of Sonae Sierra and has since then accompanied the Company to implement the new IAS (International Accounting Standards) which obliges the Company to enter C&W´s valuations directly into the financial statements.The level and continuity of work and for such an important developer and investor, proves beyond doubt C&W´s competence and expertise in retail property in Europe. To date we have established a strong professional relationship with Sonae Sierra, being official valuers of Sonae Sierra’s entire Shopping Center portfolio performing quarterly or bi-annual valuations.