“At RPE we aggressively looking to expand our office investment advisory business and we are very proud to have completed our third office acquisition since November last year. We have now advised three separate clients on three transactions with a total volume of just over € 60,000,000,” says Tim Seconde, Head of Capital Markets at RPE’s Portuguese office.
The starting point in this area of business took place in November 2016, with the purchase of the property Mouzinho da Silveira 10, representing a private investor from Guggenheim Wealth Management. With a total area of 2,204 m², the property in the heart of Lisbon’s CBD is let in its entirety to the Conselho Português de Magistratura.
This was followed by the purchase of the AGEAS (ex AXA) building in the Parque das Nações, which housed the Lisbon head office of the insurer and is now integrated into the portfolio of Zurich Insurance, after being sold by a Brazilian private investor.
The final transaction was the acquisition of the Central Office, also in the Parque das Nações. With a total area of 10,310 m², fully occupied, the property was bought for 29 million euros for the Spanish socimi Merlin Properties.
Meanwhile, the company headed by Tim Seconde in Portugal continues to undertake investment deals in retail, which is, as may be recalled, its principle focus of activity. The purchase of the Continente Albufeira hypermarket and the Albufeira Retail Park, representing the Iberia Coop, are some of the most newsworthy transactions completed in the first trimester of 2017, involving a total volume of 300 million euros.