Multi Corporation has sold a company that owns a development scheme in Lisbon on behalf of funds managed by Blackstone.
Financial details were not disclosed.
The development site, which has been acquired by companies of the Atenor group, is located between the city’s central business district and Lisbon international airport.
The site, called Metropolis North, can accommodate the development of over 14,000 m2 of office space.
In 2016, Multi developed an adjacent 14,000 m2 office building in the southern part of the Metropolis location, which was subsequently sold.
Elmar Schoonbrood, co-CEO of Multi Corporation, said: 'Through years of engagement with the Lisbon municipality, we managed to create a unique office location, which includes a significant improvement to public transportation. Our ability to design, develop and execute complex urban regeneration projects is one of Multi’s key strengths.'
Multi Corporation, a pan-European integrated service platform for real estate assets, completed a management buy-out in March this year.
The company has developed over 200 real estate projects across different asset classes over the past 40 years. It currently manages more than 80 assets across Europe and Turkey.
