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Värde Partners Acquires Prime Office Building in Porto
24 June 2019 | Ana Tavares

Värde Partners today announced the acquisition of Burgo Tower, a grade A office building located in Porto, Portugal. The multi-tenant office building was acquired, and will be managed through, a Portuguese asset management platform owned by Värde Partners.

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«During recent years, Porto has attracted the attention of several international companies and executives which are driving growing demand for office space in the city. This transaction is in line with our strategy of acquiring office assets in areas of Portugal with a supply-demand imbalance against the backdrop of positive macroeconomic indicators», said Hugo Moreira, Värde Partners Managing Director responsible for real estate investments in Portugal. «The Burgo Tower, conveniently located on Avenida Boavista in the central business district, offers tenants high quality building infrastructure professionally managed by our team in Portugal led by Ricardo Valente». 

Built in 2007, the Burgo Tower was designed by renowned architect Eduardo Souto de Moura and has a gross lettable area of over 16,000 square meters.

Värde invests in real estate assets, loans and operating companies globally and has a strong presence in Europe, particularly in Iberia.

ING Bank provided the debt financing for the transaction.

 

Source: Värde Partners