Ageas buys two more office buildings in Lisbon for €30M

Ageas buys two more office buildings in Lisbon for €30M

Cais building, Lisbon

Ageas insurance company announced this week the acquisition of two office buildings in Lisbon, namely the Classique building, at 23 Avenida Alexandre Herculano, in the Marquês de Pombal area, and the Cais building, in Parque das Nações. The deal will have exceeded 30 million euros, but the insurance company has not put forward the exact value of each property.

The Classique building has an area of ​​2,250 sqm and 42 parking spaces. It's fully occupied.

The Cais building, on the other hand, has 4,900 sqm and 118 parking spaces, and is also fully leased.

The business follows Ageas' strategy to «build a portfolio of reference offices» and to «develop a sustainable investment strategy and actively manage the respective properties, the two buildings acquired are already fully leased», says the insurer in a statement. It is «a broader strategy to reinforce real estate investment in Portugal, which began with the development of the company's new headquarters building in Parque das Nações».

Ageas believes that its buildings «are endowed with sought-after characteristics such as a high-quality work environment and a privileged location, which are reflected in the various leasing transactions», comments Gilles Emond, responsible for real estate at the Ageas Portugal Group, who highlights in a statement the group's ambition to be «a reference as responsible investors in Portugal».

By the end of this year, the Ageas Portugal Group will own around 10 office buildings in Lisbon, totaling around 60,000 sqm, the result of an investment of 500 million euros.

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