C&W Global Valuations Backed by Long-Standing Client Relationship


Sonae Sierra sgps
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The Challenge

As the sole valuation provider for the global Sonae Sierra international shopping center portfolio, Cushman & Wakefield provides quarterly or bi-annual valuations, enabling our client to seamlessly analyze the performance of its shopping center portfolio on a regular basis. Sonae Sierra’s portfolio consists of 40 shopping centers in Portugal, Spain, Italy, Greece, Romania, and Germany, and 10 shopping centers in Brazil. Our relationship with this client began in 1997 when Cushman & Wakefield appraised its portfolio in order to proceed with its IPO. To date, we continue to maintain a strong professional relationship with Sonae Sierra.


The Solution

Through an umbrella contract executed in 1997, Cushman & Wakefield provides seamless valuation and consultancy services in Europe through a single contact point in Lisbon while the Brazilian assets have been valued directly by our São Paulo office since 2008. Our Valuation & Advisory Retail team provides Sonae Sierra with an international overview of the real estate market, resulting in a consistent valuation approach of all the assets. Added value includes the development of valuation deliverables based on ARGUS software, supporting the performance analysis of each asset.


The Result

Using a consistent valuation approach for all the assets, Cushman & Wakefield has provided quarterly and bi-annual appraisals for Sonae Sierra since 1997. With our expertise in European retail property, we have provided continuity of work for our client. At the end of 2001, we assisted in the delisting process of Sonae Sierra and, since then, have assisted the company in implementing the new IAS (International Accounting Standards), which obligates Sonae Sierra to enter our valuations directly into its financial statements.