152
152
  • Transaction / Assets
    CGD Sells Chiado Terrasse to family office
  • Seller
    CGD
  • Buyer
  • € MM

CGD Sells Chiado Terrasse Building to Portuguese Family Office

2 October 2017

CGD has sold the Chiado Terrasse building in Lisbon to a Portugal-based family office. The office building is leased in full to a consulate.

Located on António Maria Cardoso Street, in Chiado, the building has a gross floor area of about 1,800 square meters, spread over four floors. It also has two floors with 17 parking spaces and a rooftop terrace with a view over the Tagus River.

Pedro Valente, head of Capital Markets at Worx, a real estate consultancy that participated in the operation, reveals that “Worx set up a competitive, structured sales process, which led to a very attractive sales price for our client. There’s currently immense appetite on the part of investors for core products (well-located, quality and with good tenants) that are scarce in the market, which allowed the transaction to be completed in record time (three months).”

“It’s also important to emphasise the capacity of Portuguese family offices, which has very agile and aggressive profiles, coupled with available liquidity,” he adds.

Original Story: Diário Imobiliário

Translation: Richard Turner