Lx Factory, in Alcântara (Lisbon), has changed hands. The property and management of the space had since 2017 been in in the possession of a fund managed by KEYS REIM, a French asset manager, and is now owned by a joint venture between Arié (Portuguese family group) and Europi Property Group (a pan-European real estate investment company), in an investment process managed by Bedrock Capital (asset manager and independent property investment company), the companies involved in the deal reveal in a statement. The value of the transaction was not, however, revealed.
According to a report by idealista, the new owners of Lx Factory intend to “maintain the unique identity and cultural heritage” of the space, “which will continue to be used for offices, retail and restaurants, as well as maintaining its industrial look and feel.”
“Plans are being developed for the gradual rehabilitation of spaces and the introduction of improvements in terms of exterior areas and the organisation of car traffic”, the companies said.
According to the document, the “acquisition strategy is part of the current context of urban regeneration in Alcântara, which already has the new CUF Tejo Hospital”, and “for the next few years, the development of several office projects and residential homes, as well as an international school”.
“It is with great satisfaction that we announce the acquisition of this project, in a partnership between Grupo Arié and Europi Property Group”, said João Tenreiro Gonçalves, Executive Partner at Bedrock Capital.
"LX Factory is a unique and emblematic asset in the heart of Alcântara, one of the most dynamic areas of the city of Lisbon”, said Jonathan Willén, CEO of Europi.