Offers for Herdade do Pinheirinho

 In Funds, News, Real Estate

Alantra has received non-binding offers for the purchase of assets that VIC Properties has put up for sale.

According to Jornal Económico the funds Cerberus and Oaktree have studied the proposal, as well as Vanguard Properties which should advance with an offer for the estate Herdade do Pinheirinho in the Alentejo.
The non-biding proposals from the three entities are said to have been received on Friday.
VIC Properties contracted Alantra to sell Prata Riverside Village, parcels of land at Matinha and Herdade do Pinheirinho, the latter in Comporta in October.
Vanguard Properties has an extensive luxury Eco-resort development at Herdade de Comporta, in the Alentejo, with developments ‘Terras da Comporta’, ‘Muda Reserve’ and ‘Dunas’.
The VIC Properties assets are said to have a “Gross Development Value” of around €3Bn with over 500,000m2 of Gross Construction Area, mainly for residential use.
Alantra was contracted by VIC Properties to explore divestment opportunities for each of the real estate projects, but despite the sale, VIC Properties is not expected to quit the Portuguese real estate market, and is expected to stay on as a partner and stakeholder in the projects.