BPI Fund Acquires Saldanha Residence Galleries for €27 Million

January 5, 2022 – Ana Custódio

The Galerias Saldanha Residence first opened to the public in 1999.

Santander Asset Management has sold the Galerias Saldanha Residence, in Lisbon to BPI Imofomento, an open-ended real estate investment fund managed by BPI Gestão de Ativos. Advised by Worx Real Estate Consultants, the closed-end investment fund managed by Santander Asset Management, Novimovest, sold the asset for about 27 million euros.

In the heart of the city of Lisbon, the Galerias Saldanha Residence opened its doors to the public on Avenida Fontes Pereira de Melo in 1999. The asset, located in one of the main focal points of the capital’s office market, consists of 6,900 m2 of GLA (gross leasable area) and 40 shops. The well-known shopping centre has a string of restaurants and services, together with fashion brands directed at cosmopolitan buyers.

Translation: Richard D K Turner

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