Bankinter Investment and Sonae Sierra have jointly announced the acquisition of Torre Oriente, a landmark 14-storey office building located adjacent to the Colombo Shopping Center in Lisbon. With a total gross area of 27,600 square meters and an occupancy rate nearing 100%, the deal highlights the growing demand for high-quality, stable office assets in Portugal’s capital.
Subject to approval from the Portuguese Competition Authority, the transaction involves the creation of a new Real Estate Investment and Management Company (SIGI) named Oriente Business Tower. This SIGI will own and manage Torre Oriente, further expanding both companies’ real estate portfolios. Shareholders in Oriente Business Tower will include Bankinter Investment Inversión Alternativa I, FCR—a venture capital fund managed by Bankinter Investment SGEIC—alongside Sonae Sierra, plus a group of private banking and institutional investors from Portugal and Spain.
Torre Oriente is part of the well-known Torres Colombo office complex, which benefits from a strategic location next to one of Lisbon’s premier retail destinations. According to a joint statement, the acquisition represents “a long-term investment of significant volume in a safe and resilient asset.” The building boasts a diverse roster of tenants with long-standing ties and long-term leases, underscoring its appeal as a stable investment.
Upon completion, Oriente Business Tower SIGI S.A. will mark the 30th investment vehicle launched by Bankinter Investment over the past nine years, and the seventh in collaboration with Sonae Sierra, following successful projects like ORES Portugal and Atrium SIGI.
This acquisition not only strengthens Bankinter Investment’s strategy of offering alternative, stable-yield assets to its clients but also reinforces Sonae Sierra’s role in providing and managing premium, sustainable real estate opportunities. “This move further expands our investment management business, consolidates our role as a creator of attractive investment opportunities, and reaffirms our commitment to sustainable and high-quality real estate assets,” the companies emphasized in their announcement.
The deal demonstrates ongoing confidence in Lisbon’s office market and highlights the growing interest from major investors in Portuguese commercial real estate.
