Situated in the Prime CBD of the Portuguese capital, the Mouzinho da Silveira 10 building, with 2,240m² of office space, is totally occupied. The building stands nine floors high, with basement parking below ground level.
According to Tim Seconde, Head of RPE Portugal, at present “it is relatively complicated to identify opportunities to acquire core investments in the office sector, with secure, long term income”, adding that “we are very satisfied to have secured this acquisition on behalf of our private national client”.
In turn, João Sacadura, Senior Consultant for Capital Markets at JLL adds “Private investors are increasingly conquering the Portuguese real estate market. Prime products are the focus of this, especially in the office segment, where the average ticket of transactions is more in line with the profile of this type of investor”. He continues, “this building is a product which fits very well with the requirements of private investors: a good location, a solid tenant and a stable income flux.
According to António Camilo-Alves, Associate in the Department of Capital Markets of Cushman & Wakefield, “this transaction shows that commercial real estate, more precisely the prime product, is succeeding in attracting a wide spread of investors who seek safety in their investment”. In this case, he stresses, “as our market becomes more and more global, it was interesting to see that the buyer was, in fact, a national investor.”