In September, Fidelidade placed a portfolio of five properties for sale, all located in the two main cities in Portugal, Lisbon and Porto.
The expectation by the insurance company owned by the Chinese giant Fosun was that the sale would be completed by the end of the year but only for the value that the company thought worthwhile.
The portfolio has now been sold to the US fund Cerberus for €125 million. The portfolio called “Arya” includes Terminal K in Lisbon’s Santa Apolónia (6,630sqm) for a potential hotel, the Marechal Saldanha building (2,334sqm), Malhoa 13 building (5,924sqm) in Praça de Espanha and the Galeria de Paris, in Porto (12,882sqm).
The most valuable asset in this portfolio is the actual headquarters of Fidelidade at 30 Largo do Calhariz, Chiado which covers 19,835sqm above ground level which brought in €80 million of the €125 million.