AdCE advises The Edge Group and Adma on €50m RE sale

Antas da Cunha Ecija has advised The Edge Group and Ardma SA on the €50 million sale of the “Garagem” building, owned by Rakod, Lda, to the European Core Fund

pjimage 2021 08 26T203202.031The Fund’s first investment project in Portugal valued at €50 million, was led by Henrique Moser, partner responsible for the Real Estate and Urban Planning area and associate Mariana Garrido Carvalho from Antas da Cunha Ecija. The transaction involved Corporate, Real Estate and Urban Due Diligence, as well as the negotiation and drafting of all contractual documents necessary for the conclusion of the transaction.

The property, located at Avenida 24 de Julho in Lisbon, is known for being the headquarters of the advertising agency WPP Group. Originally designed in the early 1960’s with the objective of being an industrial property, when acquired by The Edge Group in 2016, it underwent a thorough intervention and was converted into a modern building, with superior quality offices. It has a total area of ​​10,248 square meters, spread over nine floors above ground and one below ground with 30 parking spaces.

Henrique Moser (pictured), said: “In recent years, the riverside area of ​​Lisbon has not gone unnoticed by real estate investors, having registered a significant increase in the number of projects. Despite the uncertainty in which we live and the shadow of the crisis that persists in hovering over the Portuguese economy, I am absolutely convinced that this will continue to be a trend.”

AdCE advises The Edge Group and Adma on €50m RE sale

Michael Heron

iberianlawyer.com

Iberian Lawyer, is a monthly digital magazine, published by LC Publishing, available in Spanish and English. It represents the main source of information in the legal business sector in Spain and Portugal. The digital magazine – and its portal – address to the protagonists of law firms and in-house lawyers. The magazine is available for free on the website and on Google Play and App Store.

In every issue of the magazine, you will find rankings of lawyers, special report on trends, interviews, information about deals and their advisors.

For further information, please visit the Group’s website www.lcpublishinggroup.com

Iberian Lawyer
Registered office: C/ Manuel Silvela, 8 - Oficinas 1 Dcha 28010 Madrid España

Copyright 2022 © All rights Reserved. Design by Origami Creative Studio

SHARE

Share on linkedin
Share on twitter
Share on facebook
Share on whatsapp
Share on email
Share on telegram