Norfin Serviços completed the sale of Almirante Reis 65 on the 5th of July to Fundo Vip, managed and represented by Silvip. This is a 5,500 square metre office building that had been managed for 23 years by Norfin and belonged to the Vision portfolio.
The building has four tenants who have occupied the upper areas of 1,000 square metres for several years, reflecting the good conditions created over time by the owner and the continued investment in the quality of Almirante Reis 65. The activities and services provided by the tenants (ranging from laboratories, to clinical services, gyms and offices) make the building sui-generis and a space for the coexistence of various types of distinct entities.
The transaction was advised by Cushman & Wakefield, with legal support from the law firm Uría Menéndez Proença de Carvalho, and the buyer was represented by CuatreCasas.
"The Almirante Reis 65 Building has a very symbolic role for us. We are very pleased to have completed the deal, but above all to see the improvement work carried out over the more than two decades that we have managed this asset", says Daniel Lopes, Manager of Norfin Serviços and responsible for the project.
Over the last four years, an investment of more than 500 thousand euros has been made in the building and, consequently, the value of rents has increased by more than 30%. In addition to the renovation of the building's common spaces, the surveillance and fire safety systems were also recently renewed.
"As a result of our growing concern with the theme of sustainability, combined with the sharing of values with our investor, we have moved forward with the realisation of the BREEAM certification of the building, which has now been submitted, and it is expected that its final classification will be BREEAM Very Good", says Daniel Lopes.
