The buyer was L Catterton, a private equity firm backed by French giant LVMH, owner of Louis Vuitton, according to the newspaper El Economista.

The shopping mall is located in the city of Vila Real, in the Douro region, and has a strategic position as it has no competition within a 100-kilometre radius. The gross leasable area is approximately 21,000 square metres (m2) and includes 1,000 parking spaces.

"It is an iconic building in the city due to its architecture, with three floors and anchored by the most relevant operators in Portugal, including the main brands of the Inditex group, Tous, FNAC, Sportzone, Tiffosi, the Alcampo hypermarket, the Nos cinemas and restaurant groups", explains Trajano.

The company that leads Deutsche Bank's asset management company bought this Portuguese shopping centre in 2015 for 53 million euros, and, "after different initiatives implemented in the management of the asset over the years, it has been possible to achieve the best operational indicators, including 100% occupancy. This fact undoubtedly led to the success of this divestment operation", details the official statement.

The sale was made a month after formalising the transfer of the Alcalá Magna shopping center, located in Alcalá de Henares (Madrid), for 96.3 million euros, to the South African company Lighthouse Properties.

Alcalá Magna was acquired by Trajano Iberia in 2017 and, since then, has undertaken different initiatives to improve the asset, until reaching 100% occupancy.

With these two sales operations, Trajano has liquidated its portfolio of assets in less than a year, since it put the two shopping centres on the market in June last year.