The Revito Group has announced the acquisition of Torre do Arnado, an iconic building in Coimbra which was the city’s first business centre.
The property had been owned by the same family since the 1980s and was refurbished in 2020. Situated in one of the city’s most central and established areas, it comprises office space, retail space, co-working spaces and public car parking, totalling 12 storeys above ground and four basement levels for car parking.
This acquisition “forms part of the Revito Group’s strategy to diversify its portfolio and risk, with a focus on assets offering stable income and long-term appreciation potential”, according to a press release.
“More than just the transaction of an asset with symbolic value, this deal reinforces the role that cities such as Coimbra can play in the investment market in Portugal. Despite its economic, academic and institutional significance, Coimbra remains largely off the radar of the main office markets, which makes this transaction particularly relevant in the current context”, added Revito Group.
Filipe Espinha, the main shareholder of the Revito Group, stated that the acquisition of Torre do Arnado is a significant step in the diversification of their portfolio and their risk exposure. “This transaction is in line with our strategy of investing in well-located assets with a proven track record of occupancy and stable returns,” he emphasized.
For Filipe Espinha, “Coimbra has been showing consistent demand for high-quality premises, and this building is well positioned to meet that demand”. He added that this is “a generational investment, conceived with a long-term perspective: we want to ensure continuity, maintaining the high standards of management the building has enjoyed to date and continuing the investment it has received over the years”.
Savills advised the Revito Group on this acquisition, analysing the office market in Coimbra, assessing the dynamics between supply and demand alongside the city’s positioning on the investment map, and identifying the Torre do Arnado as an asset aligned with the investor’s profile.
Frederico Leitão de Sousa, Head of Offices at Savills Portugal, said that “this transaction confirms that investor interest extends beyond traditional markets. Assets with a distinct identity, strategic location and solid fundamentals enable cities such as Coimbra to establish themselves as credible alternatives for capital allocation”.
The Revito Group is a Portuguese investment and property development group, based in Coimbra, which currently has several projects in the Porto Metropolitan Area and the Algarve. At the start of this year, it had approximately €140 million’ worth of property projects under development.
