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Lone Star selling luxury resort in Portugal for €250M

Lone Star has mandated CBRE to sell the Vilamoura luxury resort in Portugal's Algarve region with a price tag of roughly €250 million, Property Investor Europe reported.

The deal will also include an 825-berth marina and 13 land plots on the estate, which can accommodate a development of 1,800 residential units, the publication noted, citing a statement from CBRE.

Vilamoura offers a total of 2,500 rooms, 7,000 residential homes, as well as restaurants, retail space, a casino, beaches, and equestrian and tennis centers. Lone Star acquired the resort from BBVA-owned Catalunya Banc in 2013, the Oct. 5 report added.