AFIAA completed the purchase of the Liberdade 242 building, located on Avenida da Liberdade, in Lisbon, from Lace. Cushman & Wakefield accompanied the buyer in this deal.
Being one of the most emblematic office buildings on Avenida da Liberdade, the property in question was built in 1969 and was completely renovated in 2018. It has an area of 9,500 sqm spread over 9 floors and has 25 parking spaces. It is currently fully occupied by the insurance company Tranquilidade.
Paulo Sarmento, Partner and Head of Capital Markets at Cushman & Wakefield, comments in a statement that “it was with great pleasure that we supported AFIAA in the acquisition of one of the most emblematic office buildings in the city of Lisbon. This will certainly be one of the real estate transactions of the year, not only for the amount involved, but also for the nature of the property, the tenant and the participants». The official adds that «this is Portugal playing in the “Champions League” of institutional real estate investment».