BONDSTONE IS A PRIVATE EQUITY REAL ESTATE INVESTMENT AND ASSET MANAGEMENT FIRM EXCLUSIVELY FOCUSED ON THE PORTUGUESE MARKET, INVESTING ACROSS SELECT ASSET CLASSES AND INVESTMENT STYLES.
Bondstone co-invests alongside limited partners, seeking a reputable and reliable local partner to pursue real estate opportunities in Portugal. Bondstone designs and implements bespoke strategic or transactional partnerships with prominent international investment firms, seeking to strengthen their position in the Portuguese property market.
In early 2020, Bondstone took over Louvre Capital’s assets and platform. Louvre has been active in the Portuguese real estate market since 2016, having successfully structured and developed an attractive portfolio of residential assets, involving projects that represented a total investment of €100 million and a GDV of circa €130 million. The acquisition included Louvre Capital’s in-house team of experienced professionals, who are recognised for their financial acumen, analytical intellect, superior network and local know-how.
over the years
Is established by Paulo Loureiro – a former executive director at Morgan Stanley in New York and MBA alumni from the University of Chicago, Booth School of Business – and acquires its first real estate project in Lisbon, investing €8 million in the development of a 21-unit luxury residential building.
OPENS ITS FIRST OFFICE
In Lisbon and adds three new residential projects to its portfolio (Scenic, The Nest and Excluxive). The company closes 2017 with a pipeline of four residential projects, totalling 13,500 sqm and €55 million in AUM.
THE TEAM GROWS
To 10 people, providing a compelling mix of real estate know-how and financial expertise. The company starts four new residential projects in Lisbon and Cascais, adding 11,500 sqm to its portfolio. Towards the end of the year the company has a pipeline of eight projects, totalling 25,000 sqm In 120 units, representing AUM of €100 million.
FIRST JOINT VENTURE
The company closed a €35m project in Porto in a 50/50 joint venture with Violas Ferreira Group – a leading Portuguese family office deeply committed to the local commercial real estate industry. The firm concludes 2019 with two offices (Lisbon and Porto) and a pipeline of nine projects (totaling 35,000 sqm, representing an investment of over €100m)
Takes over Louvre Capital’s assets and capabilities establishing itself as a leading real estate private equity firm focused on the Portuguese commercial and residential property markets and seeking to invest across different real estate asset classes and investment styles. In February, Bondstone opens a third office in London to better serve its growing investor base.
UNIVERSTONE, a global partner
Bondstone has been appointed by Universtone, a global private equity real estate investment and development firm with more than 25 years’ experience and a global portfolio of more than 870,000 sqm valued at €1.70 billion, as its exclusive partner to pursue real estate opportunities in Portugal. Universtone is the main financial sponsor of Bondstone and Arnaud Khodara, its founder, is the chairman of Bondstone’s Advisory Board.
Universtone has developed a strategy to identify, select and invest in real estate opportunities of significant scale, timing local property cycles with an efficient and fast decision‐making process underpinned by focused and highly-skilled local teams. This strategy has been successfully implemented in France, Belgium, South Korea and more recently, in Portugal, enabling Universtone to systematically generate superior risk-adjusted returns over the past three global real estate cycles.
- To safeguard and grow our limited partners’ capital via a transparent, co-operative and devoted approach.
- To outperform our investors’ expectations and become the real estate partner of choice in Portugal.
- To provide the best work environment and career opportunities to our employees.
We are honest, transparent and committed to doing what is best for our investors and our company. Our ethos at Bondstone is: ‘Deliver what we promise and only promise what we can deliver’. For us, integrity means we do what we say we are going to do, manage expectations through ongoing communication, and are accountable for agreements and deadlines. We value honesty and consistency in our words and actions so our investors can trust us to get the job done.
We are Intent on being the best we can be. In order to achieve this, we place the investor at the centre of everything we do. We fully commit to consistently deliver on expectations, go the extra mile and give 100% in all that we do and approach everything with a “can do attitude”. We constantly look to improve ourselves, cultivating our knowledge, skill and attitudes to achieve excellence.
We believe in the age-old adage, honesty is the best policy. To uphold our pledge to honesty, we are realistic about what we can and can’t do and are honest to our investors, colleagues and ourselves. We place honesty at the foundation of all we do and it is the basis from which we build our relationships.
We develop our people by providing an environment that fosters teamwork, personal development and professional growth. We empower our employees in a work environment that is conducive to creating the optimal work-life balance. We aim to deliver outstanding results by establishing a culture of exceptional execution and rewarding those who create great outcomes.
We are fully committed to carrying out our social and corporate responsibility on a consistent basis across all aspects of our operations. The principles we observe are Business Integrity, Environmental Sustainability, Respect for Society and Respect for People.
what we offer
- Experience in investing across three property cycles since 1994
- Wealth of knowledge across many asset classes in multiple countries
- 25+ years of real-estate exposure
- Breadth of talent and know-how (i.e. architecture, engineering, finance and economics)
- Create synergies via an in-depth sourcing and transactional approach
- Design tailor-made strategic or transactional partnership platforms
- Unlock value either through ground-up development, value-add refurbishment or efficient operational management
- Flexible mandate with ability to select the most adequate investment structure to meet the various requirements of investors
- Privately-owned firm with dynamic management
- Experienced international advisory board
- Interest alignment and incentive sharing across the team
- Aggregate projected earnings multiple of 1.54x in “ground-up” development projects
- €130m GDV in Portugal across nine residential projects since 2016
- €1.7bn GDV worldwide across four countries and multiple asset classes since 1994
Our asset management service offers a tailor-made strategic approach for each asset type and investment style, unlocking value either through development, value-add refurbishment or by efficient hands-on asset management.
Through a combination of extensive industry contacts and a thorough sourcing methodology, we are able to deliver secure off-market opportunities across select real estate asset classes and risk spectrums in Portugal. Our in-house real estate expertise mitigates investment risk and enables timely investment transactions.
We design and implement tailor-made strategic or transactional partnership platforms with prominent international investment firms, selecting the most adequate investment structure to meet the investment requirements of our partners.
We offer flexible property management services, allowing asset owners and landlords to increase rental values, manage daily operations and maximise their returns with reduced risk and time commitment. With a dedicated property management team, we provide superior operational standards in order to create enhanced property value and thus long-term profitability.
Responsibility is an important part of our strategy and day-to-day operations.
We are creating an investment framework to ensure future real estate development, investment and asset management activity aligns with the best standards of environmental, social and governance.
As part of our commitment to responsible investment, we are working towards becoming a signatory of the UN PRI and becoming accredited under several internationally recognised standards.