Orion Capital Managers (Orion) said on Friday that it will be able to deliver 1,200 units across the Portuguese residential and senior housing sectors following the acquisition of Nexity Portugal, the Portuguese residential development arm of French group Nexity.
The deal, whose amount was not disclosed, was conducted through Orion's sponsored fund, Orion European Real Estate Fund V.
The newly acquired platform boasts a range of projects spanning Lisbon, Porto, and the Algarve, with a forecasted sales revenue of approximately €450 mln.
Orion is backing the platform’s local team, led by Fernando Vasco Costa and Gustavo Carvalho.
Nexity Portugal marks Orion's second major venture in the country, following the redevelopment of Oriente Green Campus, a state-of-the-art 40,000 m2 office space located in northern Parque das Nações, with an expected delivery date in H1 2024.
Commenting on the acquisition, Gauthier Renaud, partner at Orion Capital Managers, said: 'This strategic move underscores Orion's commitment to the Portuguese market. With a significant pipeline of projects on the horizon, the platform is prepared to make a substantial impact across the country. We are excited about the opportunities that lie ahead and remain focused on creating value for our investors and partners.'
