As nossas histórias
CASTILHO 52
Assess the right buyer to acquire a completely refurbished and long-term let building by C&W in a competitive structured sales process.
1
The Opportunity
Castilho 52 was the historical Mapfre’s Headquarters in Lisbon and was bought by AM Alpha in 2018 from Mapfre (insurance company). Since Mapfre would vacate the building C&W leasing team identified a tenant which would occupy the entire building as soon as a total refurbishment was completed. C&W entered in a competitive process to perform the Design&Build project for Castilho 52 and has successfully earned it.
The opportunity was to assess the right buyer to acquire a completely refurbished and long-term let building by C&W in a competitive structured sales process.
2
The Solution
For a 100% occupied building in Lisbon’s city centre with a mid-size ticket, C&W identified Zurich as the most aggressive buyer. Zurich is normally not keen on buy-sides, however we had an important triangle of expertise, namely leasing, refurbishment and commercial.
This led to a sustained underwriting by the Capital Markets team and Zurich was chosen to carry out an exclusive due diligence process led by C&W.
3
The Result
The building was acquired in a record-time structured sales process for ca. € 26M with C&W representing Zurich throughout the whole acquisition.
This transaction highlighted the unique position Cushman & Wakefield holds in the Portuguese office market – both in investment, office agency and project and construction management - guaranteeing a 360º view to our clients.