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real-estate-transactions Market News: Spanish Real Estate Intelligence

Curzon Capital Invests €100M in a Portfolio of Offices in Lisbon
July 2019 – Richard D. K. Turner Curzon Capital Partners 5 LLP, a fund advised by Tristan Capital Partners LLP, has acquired a portfolio of seven office buildings primarily located in Lisbon’s CBD for an amount totalling 100 million euros. The fund acquired the portfolio from Vision Escritórios, a closed-end fund managed by Norfin. The assets consist of 38,421 m2 of space, including a landmark office building at Rua Castilho, five office buildings in Lisbon’s Zone 2 and a mixed-use building in the nearby suburb of Carnaxide. The offices are 95% leased, with a well-diversified mix of tenants. All of the properties have access to good parking and public transport. Tristan will retain Norfin as an asset manager. Curzon was advised by JLL, Uria Menendez and theCVO Group. Financing was provided by ING Bank Portugal. Original Story: Iberian Property - Vanessa Sousa
 
Värde Partners Snaps Up Ten Buildings in Portugal’s Capital
15 July 2019 – Richard D. K. Turner Less than a month after Värde Partners bought Torre Burgos, a prime office building in Porto; the U.S. global investment manager returned to the Portuguese real estate market. Värde finalised its acquisition of Imopólis - Real Estate Investment Fund Management Company and FIIF ImoDevelopment for an undisclosed amount. The two funds own ten properties in Lisbon, including the Adamastor Building, the Parque Suecia and the Parque Holanda. The two-tower Adamastor Building is located in Parque das Nações, while the Parque Suecia consists of a total of five office buildings. The Parque Holanda is an office and warehouse complex in Carnaxide. Värde was represented in the transaction by CBRE Capital Markets. Original Story: Idealista  
 
Patrizia Acquires Property in Cais do Sodré
10 July 2019 – Richard D. K. Turner The Germany-based real estate investment manager Patrizia just acquired a property in Cais do Sodré, Lisbon for an undisclosed amount from a private investor. The firm will convert the property into a luxury hotel. The asset located on the Praça Duque da Terceira will be converted into a four or five-star hotel with over 100 rooms and ​​6,200 square meters of surface area. Patrizia is currently negotiating with several potential hotel operators to manage the new unit. Original Story: Jornal de Negócios - Pedro Curvelo