JLL and CBRE sell 10 Lisbon prime properties

Multinational property consultants Jones Lang Lasalle and CBRE have sold a portfolio of 10 commercial properties in Lisbon.

JLL represented the seller, the real estate investment fund management company Imopólis and the closed real estate fund ImoDesenvolvimento which held 10 buildings including the Adamastor Building, Parque Suécia and Parque Holanda.
CBRE represented the buyers, Värde Partners. The Adamastor Building is in Parque das Naçôes, made up of two towers with panoramic views over the Tagus and Parque das Nações from the upper floors.
Parque Suécia is made up of five office buildings which housed the headquarters of various bodies linked to health, consultancy, information technology and others.
Also included in the transaction is Parque Holanda, an offices and warehousing building in Carnaxide.
Fernando Ferreira, JLL Director of Capital Markets, attested that the quality of the portfolio under management and the way it was managed brought improved performance indicators which contributed to the success of the transaction and added that it showed strong market interest in the office segment which would continue to be robust in 2019.
Nuno Nunes, Director of CBRE Capital Markets said that the transactions highlighted CBRE expectations that the amount of investment in Portugal’s real estate market continued to be positive. “Investors see Portugal as a country of opportunities with an above average growth potential and operational performance, as is the case with this portfolio of assets.”