Institutional owner sells 2 buildings in downtown Lisbon

Institutional owner sells 2 buildings in downtown Lisbon

An institutional owner has sold two buildings in downtown Lisbon. The asset, located at Rua Nova do Almada 1-15, is a classic Pombaline style building, close to the Lisbon City Hall and Praça do Comércio.

RPE Portugal advised on the sale of the two buildings of the institutional owner. The first building has approximately 2,500 square meters of gross area over 5 floors, and is currently used for offices and retail.

The building was sold to a subsidiary of Prima Europe FCR, a venture capital fund managed by STAG and advised by Optylon Krea, specialists in the Baixa de Lisboa area.

The second building, sold to an international private investor, is located at 75 - 85 Rua da Prata, in Downtown Lisbon. The asset covers approximately 1,200 square metres and six storeys above ground and is currently mixed use, including retail, office and residential.

Tim Seconde, Head of Capital Markets at RPE, underlines that "the sale of these two assets completes RPE's mandate for the sale of four buildings of a relevant national institution on whose behalf we are proud to have acted. Lisbon's property market continues to attract international capital for multiple sectors and risk profiles, including conversions and redevelopments in the city centre."

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