Aermont’s Avenue seeks up to €160m for Lisbon office complex

Avenue, the Portuguese arm of independent asset management firm Aermont Capital, is seeking offers of €150 mln to €160 mln for the Lumnia office complex in Lisbon, PropertyEU can reveal.

The landlord recently hired advisors CBRE and C&W to launch the sale, which is in the early bidding phase, according to well-informed market sources.

Located in Parque das Nacoes, Lumnia is one of the largest office developments built in Portugal in recent years. Spread across 30,000 m2 of construction space, the building is part of the Exeo office campus project, which encompasses a total of 70,000 m2. C&W and CBRE have also been retained as leasing agents for Lumnia.

Exeo consists of two other buildings in addition to Lumnia, known as Aura and Echo, which were both sold to BNP Paribas earlier this year.

CBRE declined to comment. Aermont could not be reached for comment.

In September the group announced the final closing of its fifth European real estate fund, Aermont Capital Real Estate Fund V, after raising total equity commitments of €3.8 bn. A first closing held in late March 2022 exceeded the formal target of €3.0 bn.



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