Fundimo sells 12,000 m[sup]2[/sup] office building in Lisbon

Cushman & Wakefield has advised Fundimo SGFII, an investment fund managed by savings bank Grupo Caixa Geral de Depósitos, in the sale of the ExpoFinanças office building in Lisbon, Luís Rocha Antunes, head of C&W’s Portuguese office, told PropertyEU in an interview during the first day of the EXPO REAL real estate fair in Munich.

Located in the Parque das Nações business park, the property was acquired by a fund managed by the Portuguese fund manager Selecta SGFII. The investment volume is said to amount to around EUR 35 mln. Located at the Alameda dos Oceanos, the building offers some 12,000 m² of office space fully leased to the Ministry of Finance.

Antunes said the Portuguese property market is seeing increased levels of activity in the second part of this year, with a number of international investors returning to the market. Total investment volumes for commercial property are expected to amount to EUR 800 mln in 2009, up from roughly EUR 600 mln a year ago.