Cuatrecasas joined Novo Banco in the sale of Herdade do Pinheirinho

Cuatrecasas joined Novo Banco in the sale of Herdade do Pinheirinho

Cuatrecasas’ team integrated partners from the Real Estate Department Nuno Sá Carvalho (coordinator) and Sara Quaresma and associates Gonçalo Nogueira, from the same department, José Diogo Marques, from the Public Law Department, partner Gonçalo Bastos Lopes and associate Mário Silva Costa, from the Tax Law Department.

Herdade do Pinheirinho had been a part of Novo Banco’s portfolio since 2017. The sale to VIC Properties was carried out this year and estimated at 80 million euro, and now the developer plans to invest around 450 million euro, restructuring what was originally planned in 2008.

Luís Gamboa, VIC Properties’ COO, stated in May that this enterprise «will increase offer in an area that needs structuring projects which can expand the service offer. We are confident that Herdade do Pinheirinho will be a project of reference in Portugal, with a strong impact on the domestic real estate setting, as well as on the local economy and job creation».

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