Tristan Capital Partners acquires €100m office portfolio in Lisbon

London-based private equity company Tristan Capital Partners has acquired an office portfolio of seven buildings in Lisbon, Portugal, for €100 million ($112 million).

The portfolio was purchased on behalf of Tristan’s core-plus fund, Curzon Capital Partners 5, from Vision Escritórios, a regulated, closed-end fund managed by Norfin.

The transaction marks the firm’s first deal in Portugal, according to Nikolay Velev, executive director of Tristan Capital Partners.

The portfolio is comprised of 38,421 square meters (roughly 414,000 square feet) and includes a landmark office building at Rua Castilho, five office buildings in zone 2 of Lisbon’s CBD, and a mixed-use building in the suburb of Carnaxide.

The portfolio is 95 percent let and has a well-diversified tenant mix, according to Tristan. It offers attractive rent reversion, good parking ratios and locations that are close to public transport.

The transaction is Tristan’s first with Norf