Patron sells Uber headquarters in Lisbon for €18 million
The building was sold by British Patron Capital and Finangeste to the Portuguese VIP fund, managed by Silvip.
British Patron Capital and Finangeste sold Uber’s headquarters to the Portuguese VIP fund. ECO has found from real estate market sources that the operation was closed for €18 million.
The building, with around 3,800 square metres spread over six floors, has been Uber’s headquarters since 2019.
The property was sold by British company Patron Capital and Finangeste to the VIP fund, managed by Silvip, a company of the SIL Group. The information was disclosed this Tuesday by Cushman & Wakefield, which, in partnership with RPE, advised the sellers on this operation. In 2019, Patron and Finangeste bought the building from Tranquilidade.
David Lopes, partner and Head of Capital Markets at Cushman, quoted in a press release, states that “this transaction is a reflection of the continued confidence of institutional investors in the present and future of Lisbon’s investment and office occupancy markets.”
Tim Seconde, Head of Capital Markets at RPE, explained that “at a time of relative uncertainty, there is still investor confidence in the right product with the right return”. “We will continue to see transactional activity in the Lisbon office market over the next 12 months,” he added.
In 2021, Uber invested more than €90 million to create a centre of excellence in this building to house around 600 people. In this bulding, the company merged the operations of the private transport app, including Uber Eats. This centre of excellence supports the clients of the US company in southern Europe, in a total of nine countries.