Ageas Portugal acquires Expo Tower building in Parque das Nações

The insurance group Ageas Portugal purchased Expo Tower, a Lisbon office building owned by Lace Investment Partner and funds managed by Anchorage Capital. This 6,000 sqm office building is located in Parque das Nações in Lisbon and includes 105 parking spaces. It's the latest in a series of acquisitions by Ageas Portugal, with preceding transactions including the purchase of three buildings (Rua Castilho, Entrecampos and Benfica) in 2019. The company began the development of its new headquarters in Lisbon in 2018.

Together with another building in Porto, the assets will increase the total investment of the Ageas Group in the Portuguese real estate market to around 500 million euros by the end of the year 2021. Cushman & Wakefield advised in the transaction with commercial analysis, while KPMG provided financial and tax consultancy services.