Generali Real Estate, the property arm of the Italian insurance giant, has acquired an office building in Lisbon, Portugal on behalf of the Generali Europe income holding (GEIH) fund.
Financial details were not disclosed.
The property, named Office Oriente, is situated in Rua do Mar da China in the core area of Parque das Nações, a modern office and leisure area developed in the early 2000s.
The office building consists of eight above ground floors for a total surface of 9,250 m2, and it is fully let to 'best-in class' companies, according to Generali.
The GEIH fund is a real estate vehicle targeting high quality core office and high street assets in the main European cities, with €2.8 bn assets under management as of June 30, the firm said.
Generali was advised by FCB, Deloitte and JLL.
