US asset management group Cerberus is understood to be looking for a buyer for its crown jewel in the Portuguese capital, an office building located at the central Largo do Calhariz.
The historic building, currently the headquarters of insurer Fidelidade, is being jointly marketed by advisors JLL and C&W with a price tag believed to be around €120 mln.
The office building provides 19,835 m2 of above-ground surface area and given its location, it offers potential to be redeveloped into a hotel.
Cerberus bought the asset in late 2019 as part of its acquisition of the Arya portfolio consisting of five assets for €125 mln.
All parties declined to comment.
