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LONDON-Growing international investor interest in Portugal has been underlined by the sale of one of Lisbon’s most prominent office buildings. Portuguese developer the Amorim Group and its partner GE Capital Real Estate have sold Entrecampos 28 to the Vision Office Fund, a Portuguese property fund managed by Norfin.

Cushman & Wakefield Healey & Baker advised the vendors and is understood to have been quoting a price of €45 million ($45 million). Amorim developed the building, with its distinctive mirror-curtain façade, in the mid-1990s. The property provides 132,400 sf of office space in three adjoining buildings, as well as 290 basement car parking spaces. It is fully leased to the Portugal Telecom group.

Matthew Walker, Co-Head of Investment at Cushman & Wakefield Healey & Baker, said: “This was a rare opportunity for an investor to acquire a prime office building in the heart of Lisbon’s Central Business District with a blue-chip tenant comitted to a long lease, providing the purchaser with excellent income security.”

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