Novo Banco Liquidates Imovalor After Sale of Last Asset
27 July 2019 – Richard D. K. Turner
Novo Banco has liquidated its Imovalor fund after selling its last asset, a plot of land with more than 21,000 square meters in Campo Pequeno. The fund sold the property, which is located on Lisbon's Avenida Sacadura Cabral, near number 40, in November to Roundhill Capital and TPG Real Estate for 36 million euros.
The property in Campo Pequeno has a total of 21,450 square meters and comes with approval for the construction of an allotment with approximately 39,000 square meters of above-ground surface area. The buyers are looking to move forward with a mixed-use development, including a 390-bed student residence and 250 flats.
After the fund’s liquidation, the proceeds of the sale were transferred to Novo Banco.
Original Story: Jornal de Negócios - Rita Atalaia