JLL represented the seller and CBRE represented Värde in this operation. The deal had already been announced during last year’s final quarter, when Värde stated it had acquired the assets for 186.6 million euro. The buildings include the Adamastor building, Parque Suécia and Parque Holanda.
Fernando Ferreira, Capital Markets director at JLL, states that «the quality of the portfolio’s management, which improved its performance, was a major contributor for the success of this transaction, clearly showing, through the market’s interest in this transaction, that the office segment will remain on the spotlight in 2019».
Nuno Nunes, Diretor of Capital Markets at CBRE, highlights that «this transaction reinforces CBRE’s predictions that the volume of investment in the real estate market will remain positive. Investors consider Portugal to be a country of opportunity, with above average operational performance and potential to grow, as is the case with this portfolio».
With this deal, Värde reinforces its presence in the Portuguese office market. Francisco Milone, Partner and Head of European Real Estate at Värde Partners, commented in November, when the deal was announced, that «we will execute our strategy of searching for opportunities in the Portuguese market, which is going through an economic growth and recovery period. Portugal is compatible with our strategy for Southern Europe».