Bondstone enters Algarve with €100m residential plan

Bondstone, a private equity firm specialising in the development and management of real estate assets in Portugal, has acquired Quinta do Morgadinho, a 68-ha property located in Vilamoura, Algarve.

The operation is expected to lead to the development of a residential project, with a total investment of more than €100 mln, representing the company's largest investment in Portugal to date.

The property is in the centre of the so-called 'Golden Triangle', close to the beach, golf courses, and Vilamoura Marina - with an approved allotment license,
partially executed infrastructures, and appropriate conditions for the development of a highly differentiated residential project, compared to the existing offer in the area, the firm said.

Paulo Loureiro, founder and CEO of Bondstone, said: 'This acquisition represents Bondstone's first project in Algarve and reinforces our commitment and presence in the Portuguese real estate market, as this is our largest investment in the sector to date.

'Our focus is the development of distinctive projects that elevate the national market and add value to the areas in which they are located, so with this investment, we intend to contribute to further enhancing the Algarve and continue expanding our portfolio.'

Present in Portugal since 2016, Bondstone has structured a portfolio of real estate assets representing an investment of €315 mln and a value of assets under
management of €380 mln.

The new property in the Algarve marks the company's 12th project in Portugal.

JLL acted as sell-side advisor in this operation, with Uría Menéndez-Proença de Carvalho being the firm responsible for legal advice.


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