Avignon Capital & Obsidian, acting on behalf of Fidera are pleased to announce the successful sale of the Miguel Bombarda 4 (MB4) office building in Lisbon, Portugal, marking a significant milestone in its portfolio strategy.
Acquired in 2019, and following a comprehensive refurbishment, MB4 will shortly become the first office building in Portugal to achieve a BREEAM Excellent rating. Avignon have a strong track record in delivering ESG strategies for their client portfolios, and the success of the MB4 renovation enhances the accomplishments of the team.
The building was modernized to the highest standards of sustainability and innovation, to ensure it was an attractive proposition for tenants seeking prime office space. The refurbishment strategy was successful as the office building has been fully let since 2023 thus further enhancing its value in a highly competitive market.
Following a successful disposal strategy, the building has been sold to a German Institutional Investor. This transaction demonstrates the continued demand for high-quality, environmentally certified office buildings in Lisbon, and is a testament to Avignon’s successful asset management strategy.
Savills represented the Seller in the completion of this transaction, with Uria providing legal services.
Andrew Lambert, Senior Asset Manager at Avignon Capital, comments, “It has been an enormous privilege and learning curve to be a part of the ESG-focused repositioning of this asset, working with talented local and international partners and committed stakeholders, and all through the most significant global disruption in our lifetimes.
The successful disposal of the completed and fully let asset further fuels our desire at Avignon to deliver ESG-led, value-added projects across Europe.”
