C&W announced the sale of the “Caribe” building, located in the centre of Parque das Nações in Lisbon for18 million euros.
In this transaction, completed in June, C&W acted on behalf of the seller, a closed-end real estate fund, managed by Fund Box SGFII. The buyer was Merlin Properties, Spanish investor thus began its real estate investment activity in Portugal.
This office building, located in the main avenue of Parque das Nações, D. João II Avenue, next to Vodafone headquarters and Casino de Lisboa, totals 6,700 square meters of office space distributed over 8 floors and 176 underground parking spaces. The building is fully let to Novabase.
According to António Camilo-Alves, of Cushman & Wakefield’s Capital Markets department, “This transaction has showed once again the interest of international investors in Portugal, particularly in the office sector in Lisbon. This positive feeling has also attracted new investors to our country, as is the case of Merlin Properties, which found in the Portuguese market a good risk / return ratio associated with the quality of commercial real estate”.