LISBON-European shopping center developer Sonae Imobiliária has sold its headquarters building here to AF Investimentos, a subsidiary of Banco Comercial Portugues Group specializing in asset management. Sale price of the asset is $12.5 million.

The building comprises 16,400 sf of office space, a 6,500-sf retail mall anchored by a Modelo Bonjour supermarket, and around 250 parking spaces. Sonae Imobiliária has signed a 10-year lease for the office space that it occupies.

Acting on behalf of Sonae Imobiliária, Cushman & Wakefield Healey & Baker sold this building to the Real Estate Portfolio Fund, managed by AF Investimentos. “A sale and leaseback operation, when properly structured, enables a company to free up resources for its core business,” says Luís Rocha Antunes, Partner and co-head of Cushman & Wakefield Healey & Baker’s Lisbon Investment Department. “Such an operation also offers a company more flexibility with regards to the office space that it occupies.”

Cushman & Wakefield Healey & Baker operates the European, Middle Eastern and African division of Cushman & Wakefield, delivering a worldwide service through 155 offices in 51 countries.

Sonae Imobiliária, a developer and manager of shopping and leisure centers, currently has interests in Portugal, Spain, Greece, Germany, Austria, Italy and Brazil.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.