Vukile subsidiary acquires Forum Madeira shopping centre in Portugal

Vukile Property Fund announced that its 99.5% held subsidiary, Castellana, through Caminho, has concluded an agreement to acquire the Forum Madeira shopping centre for EUR 63,321,113.38. The center boasts 21,472m² of gross lettable area and is 100% occupied. The acquisition, expected to close by April 30, 2025, will be funded through a combination of existing cash resources and debt. Located in a growing area of Madeira, Portugal, the Forum Madeira offers opportunities to improve NOI and overall quality by improving the tenant mix. The acquisition is expected to yield 9.5%.