Square Asset Management-backed CA Patrimonio Crescente completed the acquisition of La Vie Funchal shopping center from ECS Capital and Oitante-backed CentroNovoFunchal.

Square Asset Management-backed CA Patrimonio Crescente, an open-end real estate fund, completed the acquisition of La Vie Funchal shopping center from ECS Capital and Oitante-backed CentroNovoFunchal, a private company. Financial terms were not disclosed. «We are very pleased to have successfully completed the sale of Centro Comercial La Vie Funchal, which is one of the most emblematic shopping centers sold in Portugal in recent years. La Vie is clearly the leading shopping center in Funchal and an excellent example of how a well-managed, strategically located and performing retail asset continues to capture the interest of institutional investors," José Hermozilha, CBRE Head of Investment Properties.