Fidelidade, a Portuguese insurance company majority owned by Chinese investor Fosun, is thought to be selling a €400 mln mixed-use portfolio to take advantage of the positive market momentum.
The package includes a total of 280 buildings, largely residential units across the Portuguese capital, with a minority of offices.
The sale was launched in November last year through agent CBRE and is believed to be in the due diligence phase, with a number of foreign investors taking part in the bidding process in alliance with local partners.
Fidelidade is looking to re-invest the proceeds in larger buildings with a more diversified mix of assets.
It would be the latest high-profile deal signed in what is likely become a record year for Portuguese real estate investment. Earlier this week, AXA IMRA completed the acquisition of the Dolce Vita Tejo shopping centre in Lisbon for €230 mln while a week ago Sonae Sierra announced the sale of a majority share in two Portuguese malls to bank assurance group Ocidental.
