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PRIMOSFERA BUYS SMALL PALACE IN LISBON FOR €3M

Primosfera, a Portuguese family office, acquired the ‘palacete’ at 6 - 8 Rua Rodrigo da Fonseca in Lisbon, for about 3 million euros. 

 

This deal was completed in February, advised by the consultants Worx, representing the buyer, in partnership with their alliance with  BNP Paribas Real Estate in Madrid.

The building was formerly the property of a banking institution, resulting from a fusion of Spanish cajas. the building has an area of  800m², 3 storeys above ground and a basement., as well as a garden and outside parking, all destined for office use. 

Miguel Charters Monteiro, CEO of Primosfera, comments that, “We are very satisfied with this acquisition, which mil be the Head Office for our group. The professionalism and support from Word, and its international network   BNP Paribas Real Estate was fundamental in developing the best strategy in order to overcome tour competitors and, thus,  be successful in the purchase of this property.” 

 Pedro Valente, Head of Capital Markets at Worx, stresses that, “Portuguese family offices are currently very active in the national real estate market. They consider this sector to be very resilient and protective of capital.  It was very interesting to us to represent this investor in this business deal and to decide on the best strategy together with them, and with  BNP Paribas Real Estate Madrid. This enabled us to succeed in the purchase of the small palace in a competitive market, with other interested investors.”