CGD Sells the Edifício Camões for €20MM

January 18, 2022 – Brainsre.news

Finangeste acquired the building where Porto’s DCIAP operates.

According to idealista/news, Finangeste has acquired the Edifício Camões 155, in Porto, a 10,000m2 office building, where the city’s Department of Investigation and Prosecution (DIAP) operates. The building is also leased by CGD, which has a branch there and its social services.

The deal was closed at the end of last year, and Finangeste plans to invest around 3 million euros in refurbishing the building, which located between Rua de Camões and Rua Gonçalo Cristóvão in Porto. The asset has ten aboveground floors and 91 parking spaces.

Also, according to idealista/news, this is not the first operation that Finangeste has completed in Porto in the middle of the pandemic. In August 2020, the institutional real estate and credit investor and property developer acquired the Trindade Domus building, located behind Porto City Hall. The deal was finalised for more than 40 million euros.

Translation: Richard D K Turner

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