Henderson Park has invested €421m to buy a major Portuguese business park home to a number of international businesses.
The pan-European private equity real estate firm said it has completed the acquisition of the 1.5m sqft Lagoas Park located on a 74-acre site in Lisbon.
Lagoas Park last changed hands in 2018 when Kildare Partners bought the business park for €375m from Teixeira Duarte.
Lagoas Park comprises over 1m sqft of office space across 13 standalone buildings and houses a number of brands including Google, Samsung, BMW, Johnson&Johnson, Sanofi, Oracle, Cisco, Volvo, Nike and BP.
Nick Weber, founding partner of Henderson Park, said: “Lagoas Park is undoubtedly one of the leading business parks in Portugal, standing out because of its incredible scale, quality and impressive tenant roster of high-profile companies. Lisbon has a growing position as a European business centre, attracting marquee international companies, across growth industries like technology and healthcare, and offering a high quality of life for employees.
”Lagoas Park’s performance through the recent crisis is a testament to the fundamental appeal of both the location and the high-specification of the asset itself.
”We have a strong conviction that the right assets will continue to outperform and are confident in the future prospects of Lagoas Park and its ability to deliver attractive income growth and total return for our investors.”
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