Aggregate Holdings sells Portuguese company VIC Properties for EUR 670 M

Aggregate Holdings sells Portuguese company VIC Properties for EUR 670 M - Portugal Business News

Luxemburg based firm Aggregate Holdings is selling one of Portugal’s largest real estate companies VIC Properties for EUR 670 M. VIC Properties, that has a € 3 billion Gross Development Value, will be bought by AlbaCore Capital Group, Mudrick Capital Management and Owl Creek Asset Management. The transaction is expected to close in the second quarter of 2023.

This new development shows the investors’ confidence in the Portuguese residential market and VIC Properties will receive significant new funding to further accelerate the development of its three large residential projects in the Lisbon region. These projects comprise Prata Riverside Village and Matinha on the Lisbon waterfront, as well as Pinheirinho that is located on the Alentejo coast with its beautiful beaches. The three developments will provide around 3,000 new apartments for the city of Lisbon and a wide range of residential and tourism units, including a luxury high-end hotel in Pinheirinho on the dazzling Alentejo beach.

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