Global property adviser CBRE has been appointed as the exclusive selling agent for a 40,000-m[sup]2[/sup] office portfolio in the Portuguese capital Lisbon.
Global property adviser CBRE has been appointed as the exclusive selling agent for a 40,000-m2 office portfolio in the Portuguese capital Lisbon.
The portfolio is owned by energy utility Energias de Portugal (EDP), the largest industrial group in Portugal and one of the largest energy operators in the Iberian peninsula.
The portfolio includes the city's most prominent office complex located on the Marquês de Pombal square in the heart of Lisbon, comprising four adjacent properties, as well as two other strategically located assets in the capital.
The sales process is part of EDP's move to new headquarters on Avenida 24 de Julho in Lisbon, which are currently under construction. EDP is expected to continue to occupy the buildings for at least another two years, until the new headquarters is completed.
Francisco Horta e Costa, senior director of Capital Markets, CBRE, Portugal said: 'The truly unique nature of this portfolio, backed by guaranteed income for a minimum period from one of Portugal's most sought after tenants, makes this sale both a very attractive investment and asset management-led opportunity.'
CBRE has been instructed to seek offers for the whole portfolio, though bids for sub-portfolios and individual properties may also be considered.
