The US and Germany-based firm Jamestown has arrived in Portugal with a 98 million euro investment. The real estate investment and management company has acquired the JQOne office building in Lisbon for €98 million, Eco Sapo reported today. Located in the eastern part of Lisbon, between Parque das Nações and Lisbon International Airport, the property covers 48,000 square metres.
According to Eco Sapo, the company released a press release stating that “at JQOne, Jamestown intends to improve tenants’ experience overall, through improved amenities and more attractive common areas, while it will explore additional uses for the property that will create a better environment for tenants and visitors.”
The acquisition of the Entreposto building is part of Jamestown’s expansion strategy in Europe. It already has more than €900 million in assets under management. It intends to “extend its presence in Lisbon and expand its portfolio in the Iberian Peninsula to cities such as Madrid and Barcelona.”
Jamestown has over 38 years of experience in the international market, owning such properties as the Groot Handelsgebouw in Rotterdam, Chelsea Market and One Times Square in New York, Industry City in Brooklyn, Ponce City Market in Atlanta, Ghirardelli Square in San Francisco, and the Innovation and Design Building in Boston.