The news is released by newspaper Negócios, according to which the operation, due to its size, is unlikely that can be completed before the end of 2017.
Lone Star is represented by CBRE in this operation, which has already various interested parties, who did not want to comment on the sale so far, as stated by the same source.
Vilamoura was originally acquired by the US fund in March 2015 for €200 million, below the €360 million that Catalunya Banc (owned by BBVA) previously paid for the same resort.
Vilamoura has a total area of 1,700 hectares with 700,000m² for construction, including residential and hotel areas, a marina, a casino, golf courses, and other infrastructures. In 2015, Vilamoura World announced a €1 billion investment until 2020, to renovate the surrounding area of the marina and develop 18 different real estate projects.