Altamira Asset Management and CBRE sell Arquiparque II

 In News

Real estate consultant CBRE and asset management company Altamira have sold the Arquiparque II office building in Miraflores.

The building, which had previously been owned by investment fund Profile SGFII, is now held by Incus Capital Advisors which is based in Madrid and owns offices in Lisbon, Paris and Milan.
Located just eight minutes from Lisbon, in the companies district of Miraflores (Av. Cáceres Monteiro), next to the A5 motorway that links Lisbon and Cascais, Arquiparque II is the most modern office building in Miraflores, characterised by its iconic architecture and modern interiors. The building’s total area is 5,300 m2 with 170 parking spaces.

Minerva Building
CBRE was also responsible for selling the Edifício Minerva in Porto which it also did in partnership with Altamira Asset Management.
Minerva is on Rua Dr. Minerva Magalhães, a stone’s throw from Praça da Trindade and Av. dos Aliados, in a sought after area of the city with strong property demand.
With around 140 parking spaces, this mixed-use office and retail unit building covers 6,800 m2 of GLA (Gross lettable area).
This building was also held by an investment fund managed by Profile S.GF.I.I and was acquired by Endutex Group.
Founded in 1970, Endutex is recognised today as one of the largest textile producers worldwide specialising in PVC, acrylic, polyurethane and silicone textiles for industry, the hotels and real estate sectors.

Malhoa 14
In Lisbon, CBRE completed the sale of the building Malhoa 14. The asset was sold to FS Capital by Profile SGFII – a property asset manager and Altamira Asset Management.
Edifício Malhoa 14 is on Avenida José Malhoa off Praça de Espanha in an area with banks, shops, and local commerce including supermarkets. It is also a prime area in terms of financial and hotel establishments.
This building has 4,300 m2 of office space and 97 parking spaces. It will be refurbished and modernised and aims to meet the growing demand in interest for this part of Lisbon from national and multinational companies.
The modernisation is a good example of how the Portuguese real estate market is reinventing itself and becoming more suitable to meet the needs of the current office market.