Lisbon,
14
March
2017
|
17:17
Europe/Amsterdam

CBRE Completes Sale of More Than 80 Properties From Tranquilidade Portfolio

CBRE advised on the sale of the Tranquilidade real estate portfolio, with more than 80 properties, and considered one of the largest real estate transactions undertaken in Portugal.

The portfolio was purchased by an institutional investor consortium, which will manage, refurbish and promote offices, housing, shops and tourism assets, distributed throughout the country but focused mainly in Lisbon and Porto.

Considering the high number of assets and the clear advantages in fulfilling the simultaneous sale of the entire portfolio, and as it is a common market practice in this kind of real estate transactions, the sale was done collectively, a fundamental basis for the operation.

This was an extremely complex operation taking into account the nature of the assets and due to the fact that the portfolio was held by several different entities. This transaction was fulfilled under the sector’s new regulatory framework and was of strategic interest for Tranquilidade, allowing it to focus on its main activity – insurance services.

Nuno Nunes, Capital Markets Director of CBRE Portugal
This is the biggest transaction ever done by CBRE in terms of the number of assets and one of the most significant on a national level.

 
Nuno Nunes, Capital Markets Director of CBRE Portugal
Francisco Sottomayor, Head of Development da CBRE Portugal
Working alongside with one of the major national insurance companies was an honour. We worked together from the analysis phase and definition of the commercial strategy until the implementation and negotiation of the portfolio.
Francisco Sottomayor, Head of Development da CBRE Portugal