British equity Orion invests €100M
The British private equity group Orion, which specialises in property and recently acquired Nexity Portugal (Now renamed Vizta), is investing €100 million in 1,200 houses in Lisbon, Porto and the Algarve.
It has now bought a project of 400 homes to be built at Quinta da Pícua, Maia, work on which should begin next year, in an investment of €100 million.
In September, Orion Capital Managers, which is one of Europe’s main real estate private equity managers, acquired the Portuguese operation Nexity Portugal from the French real estate developers Nexity and renamed it Vizta,
It then bough the pipeline project Oriente Green Campus in Lisbon’s Parque das Nações for €140 million.
At the time of the transaction, Nexity Portugal, which then became part of Orion European Real Estate Fund V, presented a series of projects in the regions of Lisbon, Porto and the Algarve, with the forecast delivery of over 1,200 homes in the residential sector, with predicted revenues of around €450 million.
Nexity Portugal (Now Vizta) currently has in its portfolio Flower Tower Magnolia in Matosinhos, completed in 2023, three projects under construction and eight in development, with a pipeline of 1,500 residential units to be delivered.