Krest Real Estate Investments has sold the K-Tower Lisbon Business Centre in Portugal, to Real I.S. The price was not disclosed.
Spanning 14 floors and offering 15,000 square feet of office space, K-Tower features a vibrant central square, a garden and 157 parking spaces.
The tower on Parque das Nações has Breeam Excellent precertification and is fully occupied by Critical Techworks, a joint venture between BMW Group and Critical Software, and Spaces, a subsidiary of the IWG group, who have both committed to long-term leases.
K-Tower is landmark transaction
Krest Chief Servant Officer Claude Kandiyoti, says the landmark transaction stands as a testament to the resilience and also the dynamism of the Lisbon office property market.
“This transaction not only reinforces the appeal of Portugal to global investors but also signifies our commitment to fostering innovative workspaces that cater to the evolving needs of top-tier companies.”
Barbara Geidner-Buchelt, Head of Investment Management International at Real I.S., says, “This acquisition is our first investment in the Portuguese market, which we have been watching very closely for several years. We were impressed by both the outstanding energy efficiency of the building and its location. Lisbon is Portugal’s capital city and its most important office location.”
Situated alongside the Moxy Lisboa Oriente hotel developed by Krest, and the renowned Gare do Oriente, K-Tower was conceived by architects Saraiva + Associados and Metrourbe, reshaping the landscape of technological and innovative office environments within Lisbon.
JLL was Krest’s sales adviser. RRP Advogados provided legal advice. The architects were MetroUrbe and Saraiva + Associados. The project managers were Reúnia – Gestão de Activos Imobiliários and the contractor was Omatapalo Portugal.
Real I.S. received legal and tax advice from Linklaters in Lisbon, technical support from Gleeds Portugal, Cundall Spain and FUNDEC, financial due diligence support from Deloitte, commercial advice from RPE Portugal, and also AIFM service from Status Capital.
Krest is a leading real estate developer and investor in Brussels, Lisbon, Porto and the Algarve, and specialises in projects that redefine urban landscape, enrich communities and also focus on innovation and sustainability.
