BPI fund buys InterContinental Estoril for €22M

BPI fund buys InterContinental Estoril for €22M
InterContinental Estoril

BPI's Imofomento fund concluded in November the purchase of the InterContinental Estoril property for around 22 million euros.

According to the news released by Negócios, the transaction was completed on November 15 for this amount, which is 4.4 million euros below the last valuation of the property.

The purchase includes 62 of the 88 fractions of the building, including most of the accommodation units and the areas where the hotel services are installed.

Imofomento was legally advised by CMS in this business, through a team led by the coordinating partner of Real Estate, João Pinheiro da Silva, and also had the participation of Francisco Herculano, Sandra Arsénio and Ana Vieira Batista, according to Eco.

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