M7 Real Estate has sold an office property in Carnaxide, on behalf of M7's Portuguese Industrial Fund. The property is destined for the new offices of Acolad.
Cushman & Wakefield advised pan-European investor and asset manager specialising in multi-tenant properties, M7, on the sale of the property which comprises approximately 1,800 square metres, with three floors above ground. For Carlos Oliveira, Head of Office Agency at Cushman & Wakefield Portugal, "this property, due to its location and size, provided the answer Acolad was looking for to set up its offices, and the possibility of acquisition also made the transaction more attractive".
The Managing Director of M7 Real Estate in Portugal, Leonardo Peres, indicated that "after acquiring this office building near Lisbon, we began the process of repositioning the property, involving all the responsible local entities. During this process, it was possible to approve a project for the total refurbishment of the building, successfully increasing the asset value in a relatively short period of time. It is with great satisfaction that we have concluded the sale of this property to Acolad, anticipating our original business plan, confirming the continued resilience of the Portuguese office market.
Olivier Marcheteau, CEO of Acolad, underlines that "the new office reinforces Acolad's commitment to operations in Portugal, where we already have highly qualified teams in key areas such as IT, Finance, Marketing, Quality and Operations. For a global business like ours, Portugal meets the ideal conditions in terms of accessibility, internationalisation and a technology-oriented environment".