Without disclosing the amounts involved, Finangeste’s administrator highlighted that «this acquisition represents the third portfolio we acquire from Bank Santander Totta in the last five years». The acquisition was made together with an investor located in the United Kingdom.
The portfolio, called land bank, includes terrains with a total combined area of 85.000 sqm for above ground construction. As explained to Vida Imobiliária by Finangeste’s administration, this acquisition comes at a time when the company is focused on investing on developing several housing projects for different segments in other Portuguese locations, other than the big cities.
«We are interested in developing public housing projects for the affordable housing market, build to rent and also for sale; and these terrains allow us to develop those concepts».