CA Património Crescente Acquires “Expo Living” Building in Parque das Nações for €21.8 Million

4 November 2020 –  The “Expo Living” building, which is located in the southern part of Parque das Nações, in Lisbon, has been sold by GMG Real Estate to Crédito Agrícola’s fund CA Património Crescente. The fund is managed by the Portuguese investment fund manager Square Asset Management.

The transaction, worth approximately 21.8 million euros, demonstrates investors’ growing interest in alternative market sectors and the resilience of the market in the middle of a pandemic, according to the JLL’s Capital Markets division, which represented GMG in the transaction.

The building has five-floors of assisted-living residences for senior citizens, managed by Montepio, while the other five floors consist of rental apartments.  Expo Living is located next to the CUF Descobertas Hospital and has a total surface area of approximately 10,000 m2 on eleven aboveground floors and four underground floors, which have 155 parking spaces.

Original Story: Jornal de Negócios – Pedro Curvelo

Translation/Summary: Richard D. Turner