Cushman & Wakefield (C&W) announces the sale of the office building located at Avenida Almirante Reis 65, an important artery in the heart of Lisbon. The asset has been sold by CCP 5 LL, a fund managed by Tristan Capital Partners. The building, managed by Norfin, comprises approximately 5,500m2 and is fully occupied by 4 tenants.
C&W worked on behalf of the Seller and presented this off-market opportunity to Fundo VIP (Open-ended Real Estate Investment Fund, managed by Silvip), who acquired the asset in July 2023.
Diogo Lopo, Senior Consultant from the Investment Department at Cushman & Wakefield, said: “It was with great satisfaction that we advised Tristan’s CCP 5 LL fund on the sale of Almirante Reis 65, managed by Norfin. This transaction reflects the continued confidence we are seeing by institutional investors for the Lisbon office market. We are very proud of our involvement in this transaction, as well as for our ongoing contribution and reinforcement of confidence conveyed to the office market.”
Yassine Berkane, Managing Director for Portfolio and Asset Management at Tristan Capital Partners, added: “The asset’s strong ESG credentials coupled with the successful leasing programme made this building an ideal proposition for investors looking to purchase high-quality, sustainable office premises.”
According to Daniel Lopes, Manager at Norfin Group “We are very pleased with the deal, but above all we are immensely proud of witnessing the remarkable progress accomplished during these past two decades while managing this asset.”
According to Francisco Marques, Fund Manager at Silvip SGOIC SA “We would like to congratulate the very professional relationship held by Tristan Capital Partners and Cushman & Wakefield during the transaction process. This central asset, fully let to 4 stabilized tenants, and compliant with ESG practice, soon to be certified, compiles all requirements defined in our investment strategy.”
The vendor was also advised by Uría Menéndez Proença de Carvalho, while Cuatrecasas and Ficope worked
Cushman & Wakefield announces the sale of the office building located at Almirante Reis 65, in Lisbon
03/10/2023
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