8 January 2021
Socicorreia, in partnership with the AFA Group, has acquired two adjacent apartment buildings in central Lisbon.
The name of the international investor who sold the assets was not disclosed, and the sales price was also not revealed. Cushman & Wakefield provided consulting services on the transaction.
According to the consultancy, the buildings are unoccupied and will be the subject of extensive rehabilitation work. They are also located in one of the most sought after and highly-valued areas of the city of Lisbon.
“This is also a clear indicator that the demand for well-located and well-positioned buildings to strengthen the city’s mid-high end residential market remains, despite the less favourable economic climate and the decline in tourism,” said Ana Gomes, Partner and Director of Cushman & Wakefield’s Urban Development and Rehabilitation team.
Original Story: Vida Imobiliária
Translation: Richard Turner