Trindade Domus sold for more than 40 million euros

Trindade Domus, a building located in Porto with 20,000 square meters (sq. mt.) of gross leasable area, combining offices (60%) and a commercial gallery (40%), has a new owner, having been purchased by Finangeste in a 'joint venture' with an institutional investor based in the United Kingdom for more than 40 million euros.

The operation was concluded during the pandemic, having received more than a dozen proposals.

The property in question was built in 2008 and is located just a few steps from the Porto City Council, between Trindade and Avenida dos Aliados. It has parking for 496 vehicles and totals seven floors above ground and three in the basement.

For Fernando Ferreira, director of Capital Markets at JLL, the interest in Trindade Domus reflects "the high appetite of investors, both national and international, for the Porto market." "Only in the last year and a half, which, as we already know it includes a period of almost stoppage of activity, we registered three transactions of office buildings in Porto for more than 40 million euros", he adds.

Finangeste's management says it is very happy "with this investment", which increases the company's presence in Invicta. "[It is] a city in which we strongly believe and where we maintain a relevant investment intention in the near future", he recalls.

Trindade Domus has an occupancy of over 90% and welcomes reference tenants both in the office areas and in the commercial gallery.

The office component totals 12,000 m2, from floors 2 to 7, interconnecting 5 blocks with independent access. Veniam, Randstad, Mindera, Armatis, CGI, SDP, and Viagens Abreu are some of the occupants of the offices, with a strong presence of companies in the IT areas. In the retail component, which is distributed on the ground, 1 and -1 floors, the offer is strongly marked by commerce and convenience services, with anchors such as the Fitness Hut gym and the Froiz supermarket.