Cuatrecasas advises VIZTA on acquiring residential development project in expanding area of city
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SubscribeCuatrecasas has advised VIZTA on acquiring a 42,000 sq m development plot, to be used exclusively for residential construction, in Lisbon. This represents a total investment of around €200 million in an expanding area of the city, close to the Cristo Rei Park, between Olivais, Portela and Parque das Nações.
The project comprises four plots, delivering a total of 460 apartments, with unit types ranging from one- to four-bedroom homes. It also includes the development of a public garden covering around 9,000 sq m, where over 400 new trees and around 8,000 shrubs will be planted. In addition to residential buildings and green spaces, 241 public parking spaces will be created.
The multidisciplinary team of over 20 lawyers advising on this transaction was coordinated by Sara Quaresma from Real Estate and Urban Planning. The team also included Gonçalo Nogueira, Paulo Esteves Rosa, and Miguel Mesuras from the same practice area; Manuel Requicha Ferreira and Ana Guedes Teixeira from Finance and Capital Markets; and Gonçalo Bastos Lopes, from Tax.
“Although this was not, strictly speaking, a purely legal challenge, the main complexities lay in the competitive nature of the sale process and the transaction timetable, which required the mobilization and close coordination of a large team of lawyers and other advisors on the buyer’s side,” notes Sara Quaresma.
The construction of the project will be carried out in three phases. The first phase is scheduled to be brought to market in the third quarter of 2026, with a focus on young families.
VIZTA is one of the companies in the Orion Capital Managers Group, a European private equity firm focused on the real estate market, founded in 1999, with offices in London, Madrid, Milan, and Paris. The group has been active in the Portuguese market for seven years and aims to provide housing for different segments of the population, through a diversified and sustainable range of products.
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