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LONDON-Business park specialist Akeler has sold its last remaining properties on the Quinta da Fonte business park near Lisbon, Portugal. Fund manager Siemens Kapitalangegesellschaft (SKAG), majority owned by the Siemens pension fund, has bought 114,000 sf in two adjacent buildings for pounds 19.8 million ($32 million).

Akeler Chief Executive Trevor Silver said: “The sale of the two final office buildings highlights the success of the development and supports our strategy of developing premium office and business park space at key urban centres across the UK and Europe.”

Quinta da Fonte is Portugal’s leading out-of-town business park. Development began in 1992 and it is now home to more than 45 international companies in more than 900,000 sf. Tenants at Quinta da Fonte include Ericsson; Microsoft; Cisco; Nokia; GE Capital; Hewlett Packard; Merck Sharp and Dohme; Nike, Bristol- Myers Squibb and Procter & Gamble.

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