• Transaction / Assets
    Office Building on 43 Avenida dos Combatentes
  • Seller
    CGD
  • Buyer
    Incus Capital
  • € MM

CGD Sells Maló Clinic’s Headquarters in Lisbon to Incus Capital

27 March 2019 Richard D. K. Turner

According to an article yesterday on the news site Economia Online, the Portuguese, state-owned bank Caixa Geral de Depósitos (CGD), has just sold the Green Park building in Lisbon to Incus Capital, a Spanish fund manager. The office building has 13,550 square meters of usable space spread over a total of 14 floors.

CGD sold the building, which houses the headquarters of the dentistry group Maló Clinic in Portugal, through its subsidiary Caixa Imobiliária. The building is located at 43 Avenida dos Combatentes and is primarily used by health service providers, including Maló Clinic, according to CBRE, which acted as a consultant on the sale. CBRE declined to reveal details of the transaction.

CBRE stated that the building is “flexible in design and has panoramic, 360º views of the city on the upper floors.” The real estate consultancy added that the office building has an additional 352 parking spaces on four floors of underground garages and 300 square meters of storage area.

Nuno Nunes, director of capital markets of CBRE, stated that “this is a unique opportunity for national and international companies to establish themselves in an expanding area of the city of Lisbon. Green Park is an example of the current state of the office market, in that investors are gradually beginning to invest in properties that they can reposition in order to respond to the limited supply of office space.”

Original Story: Economia Online – Rita Neto

Photo: Essential Business