Property adviser CBRE has announced the sale of Microsoft's Portuguese headquarters to a private investor. The investment volume was not disclosed but CBRE said the transaction, completed in just over three months, was the largest single-asset deal n Portugal so far this year.
Property adviser CBRE has announced the sale of Microsoft's Portuguese headquarters to a private investor. The investment volume was not disclosed but CBRE said the transaction, completed in just over three months, was the largest single-asset deal n Portugal so far this year.
The 6,211 m2 building is situated in Parque das Nações, a major regeneration development in northeastern Lisbon next to the Tagus estuary, formerly used for industrial purposes. In the largest leasing transaction of 2011, Microsoft took the entire building, which is now named Microsoft Lisbon Experience. The software and technology multinational was advised by Jones Lang LaSalle.
CBRE acted for the vendor, Pavilhão Virtual. Francisco Horta e Costa, senior director of capital markets at CBRE, commented: 'This transaction represented a unique opportunity for an investor to acquire one of the most outstanding buildings in the Parque das Nações, considering its strategic location, together with the fact that it is fully let to a renowned multinational company.'
