NEWS FROM THE CVO GROUP

NEWS ARCHIVE

March 2016

PT - Office Park Expo sold to an international investor

Office Park Expo was sold to an international investor. The Portuguese team of the CVO Group supported the buyer with technical and environmental due diligence services.

 

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The property was partially owned by the Portuguese pension fund Caixa Geral de Depósitos (CGD).

Office Park Expo, located in the Parque das Naçoes district of Lisbon, is a modern office park complex with approx 182.000 m² of GCA. It was built in 2008. It encompasses 10 buildings and 5 underground parking floors. Among the property users is the Ministry of Justice of Portugal. There is a retail fraction, which is leased to El Corte Ingles. The property's investment value is around EUR 223 millions.

 

- Based on an article by Journal do Negocios of March 2016 -

March 2016

NL – PingProperties acquires office building to be transformed in a hotel

PingProperties Hotel Fund I has acquired the office building at the Piet Guilonardweg 3 at Schiphol. PingProperties will transform the building to a Tulip Inn hotel complex, to be managed by the Louvre Hotel Group. The opening of the hotel is due in the fall of 2016.

CVO supported PingProperties in the acquisition phase with strategic advice concerning both the acquisition and the re-development. Further to the acquisition CVO co-managed the tendering process and the project management of the re-development.

 

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Tulip Inn Amsterdam Airport

 

The new boutique hotel building will have 143 rooms and it will receive a “Green Key”-label, an international sustainability label in the hospitality & leisure branch.

 

- Based on an articles by PingProperties of 25 March 2016 -