CB Richard Ellis today announced the sale of an iconic office building in Parque das Nações, Lisbon, to the European Added Value Fund LP (“EAVF”), represented by fund manager, AXA REIM.

Acting on behalf of the building’s owner, IVG Deutschland Immobilien AG, CB Richard Ellis concluded the transaction valued at approximately €20 million.

Prominently located in Parque das Nações in Lisbon and designed by Broadway Malyan, the building comprises four office floors and 133 parking spaces, with a total area of 6.600 sq m.

With Sony Headquarters as its main occupier, since CB Richard Ellis’s lease to this company in 2000, the site has become one of the iconic buildings of this modern and dynamic office district in Lisbon.

According to Francisco Horta e Costa, Head of Investment at CB Richard Ellis in Lisbon, “Given the quality of its infrastructure and the exceptional accessibility, Parque das Nações has become one of the most attractive locations for real estate investors, particular international investors. This emblematic building is an excellent example of the existing offer at Parque das Nações and will undoubtedly add value to AXA REIM’s portfolio.”