Aguirre Newman and CB Richard Ellis announce sale of Edifício Lisboa in Lisbon (PT/US)

International real estate consultants Aguirre Newman and CB Richard Ellis have announced the sale of the iconic Edifício Lisboa, located in the heart of Lisbon's business district Parque das Nações.

Aguirre Newman was responsible for structuring the sale of this building, in representation of the owner, Parque Expo 98, S.A. CB Richard Ellis represented the buyer, Rockspring Property Investment Managers Ltd. The value of this operation is close to €21.5 million.

View of Lisbon's business district Parque das Nações.

Located in Parcel 2.11 of the Parque das Nações, the Edifício Lisboa, designed by the Portuguese architect Manuel Salgado, and a close neighbor to the Portuguese EXPO 98 Pavillion and to Lisbon's public aquarium Oceanário, was constructed to serve as an Exposition Center during EXPO 98.

With a gross construction area of 7,900 m², this office building is served by a commercial area and a large parking level in its basement, and is already home to such prestige tennants as the communications group Euro RSCG.

Built in one of the most dynamic and modern office districts of the Portuguese capital, Edifcio Lisboa will now become a part of the portfolio managed by this reputed international company.

According to Carlos Moedas, Managing Director of Aguirre Newman in Portugal, this is an operation perfectly integrated in Parque Expo's strategy: "We were extremely happy to have the oportunity to work in this particular operation, a deal which will allow our client to fulfill its own strategic objective of concentrating in the core-business of planning, designing, developing and managing urban space. With a singular and distinct architecture, and a unique location, Edifício Lisboa adds value to any real estate portfolio."

Francisco Horta e Costa, Director of the Investiment Department for CB Richard Ellis Portugal, adds: "Given it's privileged location and its modern architecture, this building has an added attraction value to any company looking to establish itself in the Parque das Nações area, and is an excellent addition to Rockspring's portfolio."

Source: Aguirre Newman

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