Transaction / Assets AM Alpha Acquires Mapfre Building in Lisbon's CBDSeller n/aBuyer AM Alpha€ MM
AM Alpha Enters Portugal with Office Acquisition
The property, also known as Edificio Mapfre, was built in the nineties and has since been the Portuguese headquarters of the Spanish insurance group Mapfre. It comprises approx. 3,500 sq. m of office area over nine floors and features a large garden terrace as well as approx. 70 parking units in its 2-storey underground car park. AM Alpha purchased the property with a very short WALT and will subsequently seek to reposition the asset.
The acquisition is AM Alpha’s first in the country and is in line with its strategy to acquire core and value-add properties located in the main European cities. The company will continue to seek investments with repositioning opportunities all over Europe and Asia Pacific. “Within Europe, the Iberian region will continue to be a main focus for us and we will actively seek value-oriented investments across all sectors.” Martin Lemke, Managing Director at AM Alpha commented.
AM Alpha was advised by RPE and RRP Advogados. The seller was advised by JLL.