Tuesday, 25 November 2025
Union Investment has signed a binding agreement to sell the Torre Oriente office tower in Lisbon to a joint venture formed by Sonae Sierra and Bankinter Investment. While the sale price was not disclosed, the company confirmed that it exceeds the property’s most recent expert valuation. The transaction is expected to complete by the end of 2025.
Torre Oriente forms part of the UniImmo: Global open-ended real estate fund. The 14-storey tower, completed in 2009, provides around 27,600 sqm of lettable space and is currently 95.3% let on an income basis. It is situated in north-west Lisbon and, together with the neighbouring Torre Occidente, forms a complex adjacent to the Colombo Shopping Centre.
“Since its acquisition in 2009, Torre Oriente has generated stable cash flows and positive value growth for UniImmo: Global,” said Martin Schellein, Head of Investment Management Europe at Union Investment. “The sale allows us to take advantage of a market opportunity in Portugal’s recovering investment market, increase fund liquidity and further rejuvenate the portfolio.”
Union Investment was advised by law firm Perez Llorca.
