31,000 sqm Office Acquisition in Lisbon
Acacia Point Capital teamed up with the pan-European property fund of Signal Capital Partners LLP in the acquisition of a 31,000 sqm, 9-asset office portfolio within the Quinta da Fonte Office Park (QDF), located 15km west of central Lisbon. QDF is one of Portugal’s finest office parks, offering occupiers high quality accommodation with large floor plates in an attractive business park environment.
QDF forms part of Portugal’s tech corridor and is the location of choice for major global corporations who value the quality of office accommodation and the lifestyle benefits of working in this area. Major occupiers within QDF and the surrounding area include Google, Oracle, Cisco, Dell, SAP, Hewlett Packard, ABB, P&G, MSD, Nestle and many other Fortune 500 companies.
Acacia Point Capital will manage the portfolio and pursue various value-creation initiatives including: the letting of vacant space; construction of additional car parking on adjoining land that has also been acquired; improvement to internal traffic flows; and the enhancement of amenities including food, beverage and leisure facilities.
Managing Director of Acacia Point Capital in Portugal, Luis Rocha Antunes, said “It has been my long-standing vision to acquire and reinvigorate QDF. We are enthusiastic to progress with plans to upgrade QDF by introducing higher-calibre restaurants, leisure facilities and services to benefit its corporate occupiers and employees. There is strong tenant demand for well-managed, high-quality office space within an integrated business park, and we are focussed on ensuring QDF reaches its full potential.”