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ING finances the purchase of three office buildings in Lisbon

ING has financed the acquisition of three office buildings in Lisbon, granting a loan of 40 million euros to the company Global Asset Capital.

The buildings are the Marquês de Pombal 12, with an area of 5,420m² of offices and 240m²of retail, the Marquês de Pombal 13, with 3,131m² of offices and 2 shops and Camilo Castelo Branco 45, with an office area of 5,921m², all situated near Marquês de Pombal. There are well known tenants such as Úria Menéndez Proença de Carvalho, Bankinter and EDP.

This operation is in line with ING’s strategy, which aims to invest in Real Estate Finance in Portugal and Spain, as confirmed by Julian Bravo, who is in charge of the area of Real Estate Finance for ING in Spain and Portugal, saying in a press release that, “This transaction strengthens our leading position in the area of Real Estate Finance in the Iberian market. Thus, we are set to continue to grow in the core assets sector such as offices and shopping centres.”

Since the beginning of the year, the REF team at ING has already signed up for a total of 7 projects in Portugal and Spain, including the purchase of Alcalá Magna shopping centre from Trajano Iberia. According to the company, there is, “An important ‘pipeline’ of projects for the next few months in both countries.”