Acacia Point Acquires 15-Building Office Park
Acacia Point Capital, in partnership with leading global investment firm, Sixth Street, has completed the purchase of 15 buildings within the Quinta da Fonte Office Park (QDF) in Lisbon’s Western Corridor.
QDF is located 15km west of central Lisbon, strategically positioned between Lisbon and Cascais, at the heart of the capital’s working professional residential neighbourhoods. The office park comprises 80,000 sqm and is a favoured business address for occupiers that are global leaders in biotech, medical diagnostics, pharmaceuticals, engineering, financial services and technology. It offers employees a short commute and a convenient and attractive landscaped business park environment with an array of restaurants and cafes, a pharmacy, a Holmes Place gym, a newspaper agency and a post office.
Managing Director of Acacia Point Capital, Matthew Walker, said “We are delighted to be partnering with Sixth Street and to continue pursuing ambitious plans at one of Europe’s leading business parks. In a period of accelerating construction cost inflation, which creates barriers for new development projects, we see great value in securing this high quality and mature office park at pricing below replacement cost. Throughout the COVID pandemic, Portugal continued to attract and see expansion of global corporations that have established European service centres in Lisbon and Porto. The country offers a stable political environment, low cost office accommodation, a modestly-priced, talented multi-lingual and culturally compatible workforce, an incredibly safe and unrivalled quality of life within a multicultural and tolerant society. We foresee this trend continuing, given the extraordinary attractiveness of Portugal, which will benefit the office investment market”.