The insurance group Ageas Portugal announced on Thursday the purchase of the Expo Tower building from the Funds managed by Anchorage Capital Group from Lace Investment Partners.
This office building is located in Parque das Nações in Lisbon, has about 6.000 m2 and includes 105 parking spaces.
The Ageas Portugal Group thus joins this office building with its most recent acquisitions announced in December 2019, with a total investment of around 100 million euros.
Expo Tower follows the purchase of three buildings (Rua Castilho, Entrecampos and Benfica) in 2019 and the beginning, in 2018, of the development of its new Lisbon headquarters, in Parque das Nações (where the company will concentrate all its operations). This new headquarters, as well as that of Porto, will increase the total investment of the Ageas Group to around 500 million euros in the Portuguese real estate market by the end of the year 2021.
The advisor was in charge of Cushman & Wakefield in the commercial analysis, Vieira de Almeida in the legal and negotiation component and by KPMG as financial and tax consultant. The Funds managed by Anchorage Capital Group were advised by CBRE, by Morais Leitão, by Ernst & Young and NPN - Neves, Pinheiro, Neves & Associados.
Gilles Emond, Head of Real Estate of the Ageas Portugal Group says in a statement that he is “very happy” for having acquired, “in such unique circumstances, this property in such a privileged location. We will continue to progressively build our real estate portfolio, with the ambition to become a reference as responsible investors in Portugal ”, he says.