342
342
  • Transaction / Assets
    AM Alpha Acquires Mapfre Building in Lisbon's CBD
  • Seller
    n/a
  • Buyer
    AM Alpha
  • € MM

AM Alpha Enters Portugal with Office Acquisition

4 October 2018
AM Alpha has completed the acquisition of an office building in the CBD of Lisbon. The building is situated in the heart of the city center of Lisbon halfway down Rua Castilho and just behind the main Marquês de Pombal Square. This prestigious area belongs to the prime CBD office market (known as Zone 1) and enjoys a good mix of office space, some of the city’s best hotels, restaurants, high street retail and luxury residential use. Rua Castilho is immediately parallel to Avenida da Liberdade, the capital’s main high street pitch which houses most of the luxury brands present in Portugal.

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.