Credit Suisse Asset Management is understood to be selling two prime office buildings in Lisbon for a combined price of around €100 mln, PropertyEU has learned.
The Swiss asset manager has hired C&W to market the iconic Art’s building and the nearby Torre Fernão Magalhães.
Agent C&W is believed to be close to selecting initial bidders for the portfolio.
The Art’s building was designed by architects Frederico Valsassina and is located at the heart of Avenida D. João II in Parque das Nações. It offers 24,000 m2 of office space and is currently fully let.
Torre Fernão Magalhães provides around 8,000 m2 of office space across 15 floors and 293 parking spaces. Major tenants include Danone, Syngenta, Skysoft and Levi’s.
If concluded, the deal would represent one of the largest office transactions so far in 2016. In March, Spanish REIT Merlin Properties forked out a total of €103 mln in cash for the Monumental building and the Torres de Lisboa office tower, representing a 7.4% gross yield and a 6.5% net initial yield.
