Orion Acquires Multiusos do Oriente Building in Lisbon from BCP

28 January 2021 – Ana Custódio

Millennium bcp has sold the Multiusos do Oriente building in Lisbon to the Orion European Real Estate Fund V, an investment fund managed by Orion Capital Managers.

Orion Capital Management, a European real estate fund manager, tried to acquire a portfolio of properties from the insurance company Tranquilidade in 2016. The acquisition of the office building near Parque das Nações marks its first foray into Portugal.

While the sales price has yet to be disclosed, BCP had valued the property at around 46.4 million euros in September of last year. Multiusos do Oriente, located in Parque das Nações, Lisbon, has a total of 37,000 m² of offices under construction and is expected to be completed by the end of 2022.

“Our interest in investing has been supported by strong long-term investment fundamentals and an immediate shortage of modern office space in Lisbon. This acquisition represents a unique [opportunity] to create a new horizontal building style campus with generous and desirable outdoor spaces,” said Gauthier Renaud, director of Orion Capital Managers.

Orion Capital Managers LLP, a London-based European company, was founded in 1999 and invests in real estate in countries like the UK, Spain, Italy or France.

Translation: Richard Turner

Photo: Joao Morgado