Värde Partners Acquires Prime Office Building in PortoJune 24, 2019
LONDON – Värde Partners, a leading global alternative investment firm, today announced the acquisition of Burgo Tower, a grade A office building located in Porto, Portugal. The multi-tenant office building was acquired, and will be managed through, a Portuguese asset management platform owned by Värde Partners.
“During recent years, Porto has attracted the attention of several international companies and executives which are driving growing demand for office space in the city. This transaction is in line with our strategy of acquiring office assets in areas of Portugal with a supply-demand imbalance against the backdrop of positive macroeconomic indicators,” said Hugo Moreira, Värde Partners Managing Director responsible for real estate investments in Portugal. “The Burgo Tower, conveniently located on Avenida Boavista in the central business district, offers tenants high quality building infrastructure professionally managed by our team in Portugal led by Ricardo Valente.”
Built in 2007, the Burgo Tower was designed by renowned architect Eduardo Souto de Moura and has a gross lettable area of over 16,000 square meters.
Värde invests in real estate assets, loans and operating companies globally and has a strong presence in Europe, particularly in Iberia.
ING Bank provided the debt financing for the transaction.
About Värde Partners
Värde Partners is a $14 billion global alternative investment firm that employs a value-based approach to investing across a broad array of geographies, segments and asset types, including corporate and traded credit, real estate, mortgages, financial services, real assets and infrastructure. The firm sponsors and manages a family of private investment funds with a global investor base that includes foundations and endowments, pension plans, insurance companies, other institutional investors and private clients. Now in its third decade, Värde employs more than 300 people globally with regional headquarters in Minneapolis, London and Singapore.