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Merlin Properties expands in Portugal with €112M office buy

Spain's Merlin Properties bought two office properties in the Expo area of Lisbon for €112.2 million, reflecting a 5.4% gross yield, Property Investor Europe reported.

The acquisition of the 97%-occupied, 22,150-square-meter, three-building Art block and the fully leased, 7,835-square-meter Torre Fernando Magalhaes building expands Merlin's Lisbon holdings to more than 100,000 square meters, the Jan. 18 report added.