CMS and PLMJ advises CER on €15.5m investment

CMS Portugal and PLMJ have advised the Catella European Residential Fund on first investment in Portugal for €15.5 million

CMS Portugal and PLMJ have advised the Catella European Residential Fund (CER) on its first investment in Portugal. This was through the acquisition of a student housing asset in the municipality of Cascais, to the west of Lisbon, for €15.5 million and a 99-year lease.

European student accommodation provider MILESTONE operates the residence under a management contract. MILESTONE was founded in Vienna, is a member of the Value One Group, an international Real Estate developer and student housing operator. MILESTONE currently has 4,627 beds of purpose-built student housing under management and in development across Austria, Portugal, Germany, Netherlands, Poland and Italy. The property is located close to the beach in the Lombos neighborhood of Carcavelos within the Cascais municipality.

The CMS Portugal team that advised Catella was led by partners Francisco Xavier de Almeida (pictured top left), Corporate M&A and João Pinheiro da Silva (pictured bottom right), Real Estate, in which the following team members also participated João Mendes Rodrigues, senior associate, Real Estate, Diogo Mafra senior associate, Corporate M&A and Miguel Santos Ferreira, associate, Corporate M&A. For tax matters, Catella CER was advised by PLMJ’s team which included Isaque Ramos (pictured bottom left), partner, Tax, Dinis Tracana (pictured top right), senior associate, Tax, Carolina Campos Dias and Ana Raquel Magalhães, associate.