Patrizia Sells Mixed-Use Office Building in Lisbon for €45.25 Million

January 27, 2022 – Ana Custódio

The Dom Luís I building is located on Lisbon’s riverside.

Through its real estate investment team, Principal Real Estate, Principal Global Investors has acquired a mixed-use office and retail building in Lisbon from the fund TransEuropean VI, managed by PATRIZIA, in a 45.25 million euro deal.

The Dom Luis I building, located in the riverside area of Lisbon, has a total leasable area of 10,300 m2, of which 8,100 m2 is office space on seven floors, and 2,200 m2 is retail and leisure space on the ground floor. Refurbished in 2017, the asset is currently fully let to five tenants, including Farfetch, Sitel, and Fitness Hut.

RPE acted on behalf of the Principal and Cushman & Wakefield on behalf of the seller, PATRIZIA. Principal European Office Fund is a balanced, geographically diversified real estate fund with long-term value stability that invests predominantly in the European office sector.

Read the full article in Portuguese

Translation: Richard D K Turner

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