Munich-based family office AM alpha has made its debut deal in Portugal with the acquisition of an office building in Lisbon's CBD.
Financial details were not disclosed.
'Our recent successful investment in Portugal illustrates AM alpha’s ability to execute quickly if opportunities emerge,' said Martin Lemke, managing director at AM alpha. 'Within Europe, the Iberian region will continue to be a main focus for us and we will actively seek value-oriented investments across all sectors.'
The property, known as Edificio Mapfre, is situated on Rua Castilho. It was built in the nineties and has since been the Portuguese headquarters of the Spanish insurance group Mapfre.
The office comprises approx. 3,500 m2 of space over nine floors and features a large garden terrace as well as 70 parking units in its 2-storey underground car park.
AM alpha purchased the property with a very short weighted average lease term and said it would subsequently seek to reposition the asset.
AM alpha was advised by RPE and RRP Advogados. The seller was advised by JLL.
