REC Villas Lobo Release

 

REC Villas Lobo Release

 

REC Villas Lobo Release

 

RE Capital announces new joint venture for a €66 million unique development in the Algarve, Portugal.

4 April 2024 – RE Capital, the property company specialising in repurposed real estate in Europe’s cosmopolitan cities, and its investment partner Real Estate Investment Group (REIG) are excited to announce the sale of a majority stake in their Villas Lobo project to an experienced local private equity firm. JLL Development Capital Markets team acted on behalf of RE Capital under an exclusive mandate.

The sale creates a new joint venture centred on a €66 million GDV upscale residential project, Villas Lobo, based in Vale do Lobo in the Algarve, Portugal. The parties will jointly develop the project which is due to commence in 2024.

The vision for the Villas Lobo project is to seamlessly blend luxury and comfort across 43 units within the proposed development. A steadfast commitment to eco-friendly design principles underpins the project, ensuring an enhanced and sustainable living experience in the Algarve region.

Slated to begin in 2024, the infrastructure works for Villas Lobo emphasise a foundational commitment to modern sustainability. This luxury living development will bring innovative living concepts to the Algarve, marking a new era of residential real estate in the region.

Nuno Santos, Head of Portugal at RE Capital, said: “This collaboration embodies a mutual exchange of expertise and capabilities, culminating in a unique residential development. With infrastructure works just around the corner we look forward to bringing a new product to the market – an oasis inside the well consolidated Villas Lobo Resort.”

Newman Leech, CEO of RE Capital, said: “This project represents our entry into the south of Portugal. We have a successful track record in Lisbon and are look forward to creating a world-class residential development in the heart of the Algarve. It is considered one of the most exclusive destinations in Portugal, and the project gives us an opportunity to bring to market a scalable development unlike any other in the area.”

Gonçalo Ponces, Head of Development, Living & Natural Capital at JLL, said ” Our involvement in structuring this deal underlines the Algarve’s continued allure as a hub for exceptional real estate investments. Villas Lobo is poised to set new benchmarks within the luxury living domain, promising to leave an indelible impression on the region’s landscape.”