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Estamo sells buildings to Lynx’s fund for €22.6M
27 September 2019 |

Estamo announced this week the sale of an office building and a small palace in Lisbon for 22.6 million euro to fund Splendimension, managed by Lynx Asset Managers.

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The operation by the State real estate management company was closed at the beginning of this month. The office building is located at number 11 Avenida José Malhoa, and the small palace is located in Benfica, these two assets had been on sale since the beginning of the year. They were acquired from Parpública.

According to Estamo’s website, the building located at Avenida José Malhoa was sold for 16.5 million euro. It has 10 floors above the ground and it will be rehabilitated and expanded, with a layout reconfiguration and an extra 5 floors on its western wing.

The small palace, located at number 382 Estrada de Benfica, was sold for 6 million euro. It has a PIP (Previous Information Request) approved in 2011, which estimates a potential 6.268 sqm area above the ground and a mixed use for housing and commerce/services.