Cushman & Wakefield announced the acquisition, on behalf of AFIAA, of the Liberdade 242 building, located on Avenida da Liberdade, in Lisbon.
The asset, which was built in 1969 and refurbished in 2018, totals a lettable area of approximately 9,600 sqm divided over 12 floors, in addition to 25 private parking spaces. Almost fully leased to the insurance company Generali, Liberdade 242 is one of the landmark buildings on Avenida da Liberdade and boasts an excellent energy efficiency performance.
In this transaction, Cushman & Wakefield presented the opportunity and represented AFIAA, which acquired the property from a fund managed by Lace Investment Partners.
According to Paulo Sarmento, Partner and Head of Capital Markets at Cushman & Wakefield, “It was with great pride that we supported AFIAA in the acquisition of one of the most iconic office buildings in Lisbon. This will certainly be one of the real estate transactions of the year, considering not only the amount involved, but also the nature of the property, the tenant and the investors involved. This is Portugal playing in the “Champions League” of institutional real estate investment”.
