PLMJ, Abreu & Costa Pinto advise on the €15m sale of Terminal K

PLMJ has advised Cerberus Capital Management on the €15 million sale of Terminal K, Abreu Advogados has advised the buyers Optylon Krea, in partnership with STAG Fund Management advised by Costa Pinto

pjimage 2021 10 28T102348.801PLMJ has advised Cerberus Capital Management on the sale of Terminal K, in Santa Apolónia, to OptylonKrea and STAG Fund Management. The transaction has been valued at €15 million.

The building, located next to the International Cruise Terminal in Lisbon, has an area of ​​seven thousand square meters and will now be rehabilitated for a luxury Apart-Hotel project, managed by the architecture and design firm Saraiva & Associados.

Cerberus Capital Management, L.P. is an American Private Equity firm, specialising in distressed investing. The firm is based in New York City, and run by Steve Feinberg, who co-founded Cerberus in 1992, with William L. Richter, who serves as a senior managing director. The firm has affiliate and advisory offices in the United States, Europe and Asia. Cerberus has around $45 billion assets under management in funds and accounts.

The PLMJ team was coordinated by Sofia Gomes da Costa (pictured top left), partner from the area of ​​Real Estate and Tourism at PLMJ, with the collaboration of Sérgio Teixeira (pictured top right), senior associate from PLMJ in the same area.

In addition to this transaction, the same PLMJ team had advised Cerberus on the acquisition from Fidelidade of a portfolio of five properties in Lisbon and Porto, which includes the headquarters in Chiado, for around €125 million and on the subsequent sale of the Marshal Saldanha building.

Sofia Gomes da Costa said: “We are extremely pleased to be able to continue advising Cerberus on matters of relevance within the scope of its portfolio management in Portugal”.

Abreu Advogados advised Optylon Krea on the purchase of Terminal K and in partnership with STAG Fund Management for this acquisition.

The Abreu team involved in this deal was led by António Pina (pictured bottom right), partner from the Corporate and M&A practice area, and Patrícia Viana (pictured bottom left), partner from the Real Estate practice area.

STAG Fund Management was advised by the law firm Costa Pinto Advogados, with founding partner José Costa Pinto, leading the team together with senior associate Miguel Inácio Castro.

Michael Heron