offices Market News: Spanish Real Estate Intelligence

AUMs in Real Estate Funds Slightly Higher in February
20 March 2020 Assets under management in real estate investment funds (FII), special real estate investment funds (FEII), and real estate management funds (FUNGEPI) in Portugal topped €10.52 billion in February. The figure represents an increase of €7.4 million, or 0.07% compared to the month before, according to a report by the country’s Securities Market Commission (CMVM). In that same period, the funds invested 100% of their assets in the European Union. Just over 46% of the assets in open FIIs and FEIIs went to the services sector, while FUNGEPIs focused principally on retail (65.5% of the total). The largest funds by market share were Interfundos (12.9%), Square AM (11.2%) and Caixa Gestão de Activos (7.6%). Original Story: Diário Imobiliário Translation/Summary: Richard D. Turner
EXEO Office Campos Under Construction in Lisbon’s Parque das Nações
16 March 2020 The new EXEO Office Campus, which is under construction by the real estate developer Avenue in Parque das Nações, Lisbon, is already attracting an array of tenants. The Exeo is consist of 70,000 square meters of offices, with 13,000 m2 of gardens, almost 700 parking spaces, 30% of which will include rapid electric vehicle charging points, and 176 bicycle stations. The developer has invested a total of 190 million euros in the project. The first phase of the project, with a projected investment of 150 million euros, includes the development’s infrastructure and the construction of the first and largest building, Lumnia. The Lumnia will comprise eight floors and about 30,000 m2 of gross construction area. Two other offices towers will follow, the 11-floor, 17,000-m2 Aura, and the 7-floor, 21,00-m2 Echo building. Original Story: Idealista Translation/Summary: Richard D. Turner