Specialist real estate investment firm Maya Capital has sold two residential buildings in Portugal’s capital city at a 35-50% premium to valuation.
IPE Real Assets understands that the fund manager has sold the 79-85 Rua dos Correeiros and 174-178 Rua da Prata building in Lisbon for about €4.3m following a value-enhancing strategy.
The sale amount represents a 50% premium to the Correeiros assets valuation and 35% premium for the Prata building’s valuation.
Maya Capital acquired both assets as a part of a seven-asset portfolio in 2021.
David Pralong, managing partner of Maya Capital, said: “We are thrilled to announce the successful completions of the sales of these non-core assets, which realise a strong return for Maya Capital’s investors.”
Pralong said Maya Capital remains “keenly focused on the Portuguese and Spanish markets where we continue to see significant investment opportunities”.
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