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Name: LX Factory
Location: Lisbon, Portugal
After shutting down its industrial purpose (textile and typography industries), the asset was acquired in 2008. The LX Factory project started with the objective to host a creative hub occupied by industry professionals, restaurants and art, combined with a diverse range of events in fields such as fashion, art, architecture, music, etc, generating a dynamic that has created an anchor project for Lisbon and reinvented the area of Alcantara. LX Factory is in an uptrend area of Lisbon called Alcantara, next to the docks that is going through a major urbanism revitalization with the construction of c. 80,000 square meters of a multisector green field development – residential, offices, retail, healthcare, and hospitality. This framework creates ideal conditions for Keys REIM to be involved in the assessment of a relevant consolidation program of Lisbon’s urbanism. Keys REIM acquired the asset in 2017 with the objective of consolidating the asset via the implementation of professional asset and property management initiatives as well as new construction (development project on “Plot L 10” for c. 11,500 square meters of gross construction area above ground), keeping the creative DNA successfully nourished for a decade. With that in mind, Keys REIM applied management practices envisioning the optimization of the NOI leakage, ameliorating the users and tenants experience, and increasing the diversity and quality of the tenant mix.
LX Factory is a project with several challenges that require a transversal interpretation of the different real estate related missions envisioning the creation of value. It is an exciting project due to its authentic identity. The asset combines a unique set of retail tenants, locally integrated with the office tenants which are mainly related with creative industries. The asset has a particular industrial appeal, with street art and unique visuals. All this combined makes the LX Factory a unique and exciting project.
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