Norfin sells building in the Technological Pole of Lispólis in Lisbon

Norfin sells building in the Technological Pole of Lispólis in Lisbon

Norfin has sold a building in the Lispólis Technological Pole, located at Rua Laura Ayres, 4, in Carnide, Lisbon. The asset now belongs to Iberia FEIIF, a company owned by Portugal Yield Fund II, managed by Private Equity Iberis Capital.

With about 2,865 square meters of GLA distributed over 3 floors above ground, the asset also has 72 parking spaces distributed over 2 basement floors. The building is fully leased to the European University, which operates one of its University Centres there.

CBRE advised Norfin on the sale of the building. In this transaction, the real estate consulting firm worked closely with the owner to manage and complete the sale process of the property. With this transaction, Norfin fulfils the business plan defined for the asset, which was to find a long-term tenant, in this case the European University/Ensilis, and to work together on the necessary adaptation of the building for its daily operation, making it attractive to investors seeking long-term returns.

Catarina Alves e Sousa, Manager at Norfin SGOIC, mentions that "this is a good example of an initially vacant asset, for which a solid tenant was found, we worked together to adapt the property to the tenant's activity and gradually and evenly improved the lease. With this strategy, it was possible to add value to the property, making it an attractive investment for any investor looking for long-term sustainable profitability".

For Iberia FEIIF, this acquisition fits in its strategy of investing in assets with yield management in good locations, with long and sustainable lease contracts.

José Hermozilha, Head of Investment Properties at CBRE, explains that "the so-called alternative sectors, in which educational institutions are included, are gaining strong traction in Portugal in terms of interest from national and foreign investors. This dynamic is largely due to the excellent performance of the various tenants and operators, who have shown impressive resilience to the various economic cycles".

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