Property adviser CB Richard Ellis is to acquire a 30% stake in Portuguese hotel and leisure property specialist Neoturis. Financial details were not disclosed. CBRE has secured the right to buy the remaining shares at a later date.
Property adviser CB Richard Ellis is to acquire a 30% stake in Portuguese hotel and leisure property specialist Neoturis. Financial details were not disclosed. CBRE has secured the right to buy the remaining shares at a later date.
Based in Lisbon, Neoturis leads the Portuguese hotel and leisure property market. Through the deal, CBRE aims to expand its presence in Portugal and other Portuguese-speaking countries such as Mozambique, Angola and the Cape Verde Islands.
'Through this transaction we have come closer to our goal of being among the leading property advisers in all key markets,' said Mike Strong, president of CBREs' EMEA region.
