Spanish multinational bank Santander has sold a prime office building in Lisbon to British fund Avignon Capital for €22.3 million. The purchase of Nº4 Avenida Miguel Bombarda was made in conjunction with US capital management company York Capital Management.
The acquisition represents the first foray by the UK fund in the Portuguese market and is the latest in a dozen or so international funds that have invested in Portugal’s lucrative commercial real estate sector since 2017.
