London, 05 February 2024
Maya Capital LLP, a specialist real estate investment firm, has announced that it has completed the disposal of two prime residential buildings in Lisbon: 79-85 Rua dos Correeiros and 174-178 Rua da Prata.
Maya Capital acquired both assets as a part of a seven-asset portfolio in 2021, after which it received full planning approval to convert all seven assets into high-end residential apartments. Through this active asset management, Maya successfully implemented its value-enhancing strategy and was able to sell the properties at a 50% premium to the valuation for Correeiros, and 35% premium for Prata.
Maya Capital found a local purchaser for the Correeiros asset via its own local network, and was advised by Cushman & Wakefield on the sale of the Prata asset.
David Pralong, Managing Partner of Maya Capital, commented: “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. I would like to congratulate our Lisbon office, led by Joao Cruz, for its planning permission wins. We remain keenly focused on the Portuguese and Spanish markets where we continue to see significant investment opportunities.”
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