Visabeira Imobiliária and Sociedade de Investimento Razão Secular have purchased a building in Lisbon, from Santa Casa da Misericórdia de Lisboa, which will now be converted into housing.
The building has 14 storeys and is situated at number 9 on Avenida José Malhoa, in Campolide.
The property was sold at a public auction held on 9 July for €11.5 million, according to Jornal de Negócios. It had a reserve price of €9.5 million.
Six of the eight properties up for auction were sold, for a total of €15.03 million. This portfolio had a reserve price of €14.58 million, with properties located in Lisbon, Sintra, Almada and Seixal. The six assets sold received a total of 23 bids, while the other two properties attracted no interested parties.
This public auction forms part of the restructuring plan for Santa Casa da Misericórdia de Lisboa, which provides for the sale of real estate assets and shareholdings that are not strategic to its social mission.
This was the sixth public auction held since December 2024. Since then, Santa Casa da Misericórdia de Lisboa has raised around €37 million, with this latest auction yielding the highest amount.
In January last year, it had also sold two other buildings for €11.9 million, including another tower on the same Avenida José Malhoa, which was purchased by the Portuguese Nurses’ Association for €11 million. These buildings were part of a portfolio of three properties that SCML had bought in 2008 for €32 million, which were never actually put to use.
