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Cushman & Wakefield (C&W) announced the sale of the 29,000 sq m Torre Ocidente, one of the two office towers of the Colombo development in Lisbon, which includes the iconic, 120,000 sq m Colombo shopping centre.

C&W acted on behalf of the sellers, a consortium formed by Sonae Sierra, Caixa Geral de Depósitos, Iberdrola and CBRE Global Investors in this important real estate transaction for the Portuguese market. The buyer was an Investment Trust quoted in Singapore.

According to António Camilo Alves, Head of Business Space Investment of C&W Portugal’s Capital Markets Department, “The size of this transaction, the buyer’s motivation and the quality of the product, underline the confidence of international investor community in the Portuguese economy, the local real estate market and in this exceptional asset.”

The Colombo Towers project comprises two office buildings of 14 floors and a total gross area of 29,000 sq. m each. Cushman & Wakefield was involved with the development since inception, having leased the two towers, Oriente and Ocidente, to a range of occupiers. Torre Ocidente is fully let to renowned tenants like BNP Paribas, Sonae Sierra, Lilly Portugal, Manpower Group Solutions, WS Atkins, Leo Pharma, Viacom and Arvato.