Three Office Buildings Acquired in Portugal
Acacia Point Capital, together with the pan-European property fund of Signal Capital Partners LLP, has acquired three additional office buildings in Lisbon from a defunct Portuguese banking group.
These buildings form part of the Quinta da Fonte Office Park (QDF), where Acacia Point Capital control the majority of the park with a portfolio of 15 buildings progressively acquired from 5 different vendors over the last 2 years. This transaction was structured so that Acacia Point Capital could refurbish these capex-starved buildings prior to acquisition, which then enabled a substantial pre-letting to be secured in advance of purchase.
QDF is located 15km west of central Lisbon, strategically positioned between Lisbon and Cascais, at the heart of the capital’s white collar residential neighbourhoods. The office park is a favoured business address for the country’s leading pharmaceutical, engineering, financial services and technology companies. It offers employees a short commute and a convenient and attractive landscaped business park environment with an array of restaurants, cafes, Holmes Place gymnasium, newspaper agency, post office and hairdresser/beauty salon.
Managing Director of Acacia Point Capital in Portugal, Luis Rocha Antunes, said “This acquisition represents a further step towards the consolidation of ownership and management at QDF. Our on-site team continues to make transformational improvements to create a fantastic community-focussed work environment, that keeps attracting high calibre corporate occupiers who have chosen QDF as their Portuguese headquarters”.