Tristan Capital Partners sells Avenida de Berna 54 building for €15M

Tristan Capital Partners sells Avenida de Berna 54 building for €15M
Avenida de Berna 54, Lisbon

A Portuguese institutional investor bought a building from the CCP 5 fund from Tristan Capital Partners, located at 54 Avenida de Berna, in Lisbon, facing the Calouste Gulbenkian Foundation, benefiting from good road and transport accessibility.

Comprising a gross area of ​​3,825 sqm and 124 parking spaces, the building is currently occupied by Cofidis and Prosegur.

Tristan Capital Partners, together with its local partner, Norfin, was advised by Uría Menendez and JLL in the legal and commercial areas, respectively, «initially, the objective for this building was to carry out a work of rehabilitation of common spaces and from other areas and launch into the rental market. However, an excellent divestiture opportunity arose and it ended up being successful», declares Daniel Lopes, Norfin Manager.

The transaction was advised by WORX Real Estate Consultants, making it one of the most important deals in the Lisbon office sector, in the first quarter of this year, «this is an important asset in the Avenidas Novas area, and it was with pride that we advised more on this transaction, which is another sign of the dynamism of the market at the start of 2022», confesses Pedro Rutkowski, CEO of WORX Real Estate Consultants. Gonçalo Santos, Head of Capital Markets at JLL, reinforces that «the journey with this asset began in 2019 when we supported our client Tristan Capital Partners in the acquisition of the building and now we are pleased to be involved in closing the investment cycle through the sell side advisory process'.

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