Real I.S. AG has acquired the office property K-Tower in Lisbon for its open-ended retail property investment fund REALISINVEST EUROPA. Seller is the family-owned developer KREST Real Estate Investments. The parties have agreed not to disclose the price of the deal.
The K-Tower is located at Av. Aquilino Ribeiro Machado 8-8E in Portugal’s capital Lisbon. The 14-story building with a total area of around 15,000m2 offers office space, terraces, and facilities like showers and changing rooms. There are 157 car and bike parking spaces. Almost 50% of the car parking spaces are equipped with electrical chargers. The anchor tenant is Critical TechWorks, a joint venture of BMW Group and Critical Software. The K-Tower complex is about to be awarded the BRREAM certificate in 'excellent' and was nominated as a finalist for the 2024 National Real Estate Award in Portugal in the Office and Efficiency & Sustainability categories.
“This acquisition is our first investment in the Portuguese market, which we have been watching very closely for several years. We were impressed by both the outstanding energy efficiency of the building and its location. Lisbon is Portugal‘s capital city and its most important office location,” said Barbara Geidner-Buchelt, Head of Investment Management International at Real I.S. AG.
Real I.S. received legal and tax advice from Linklaters in Lisbon, technical support from Gleeds Portugal, Cundall Spain and FUNDEC, financial due diligence support from Deloitte, commercial advice from RPE Portugal, and AIFM service from Status Capital.
Image provided by Real I.S.
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