C&W has been selected by German investor Deka Immobilien to manage the recently acquired Báltico building at Parque das Nações, in Lisbon.
Developed by Mota-Engil, Báltico building is located at Av. D. João II and comprises a gross lettable area of 16,900 sqm, divided into 13 office space floors, 2 retail areas and 5 floors of underground parking spaces.
The referred building, concluded in 2010, is totally occupied by the Portuguese Post Office (CTT), placement made at that time by C&W’s office team.
Cushman & Wakefield will provide the management of the building at the rental level, including management of financial management of investments and works, invoicing and rent collection, management of bank accounts, verification of checking accounts and drawing up of asset statements.
According to Bruno Silva, associate and head of asset management at Cushman & Wakefield in Portugal, “This new mandate reflects the confidence in our ability to manage prime property assets and awards the good work developed by our team in previous years”.
The Lisbon property and asset management team now has 31 office buildings and 6 shopping centres under management, totalling over 340,000 sqm and producing annual rental revenue in excess of 45 million Euros.