Tercena
Apartment block developmentA residential apartment development targeting the middle-income buyer segment in one of Lisbon's most accessible and well-connected suburban locations.
An evergreen private real estate investment delivering targeted 12% annual returns through disciplined lending to middle-income housing developments across Lisbon, Porto, and high-growth Portuguese cities.
Key parameters at a glance — the structural terms every qualified investor should review first.
Competitive yield within European private credit.
Regular income subject to project cash flow.
Portuguese real estate investment structure.
Flexible with semi-liquid exit mechanics.
Transparent, aligned fee structure.
Pre-identified project pipeline ready for capital.
Disciplined, risk-conscious lending to Portugal's most resilient housing segment.
Focused on middle-income buyers and tenants — the most stable, demand-driven segment of the Portuguese residential market with structural undersupply.
Projects selected for demonstrable pre-sale appetite, reducing completion risk and providing early revenue visibility before construction completes.
Only projects with clear and advanced permitting status are considered, minimising regulatory delays and protecting project timelines.
All projects underwritten against a minimum 15% downside scenario, ensuring returns remain viable under adverse market conditions.
We concentrate on suburbs of Lisbon and Porto — Portugal's two largest metropolitan areas — alongside selected high-growth regional cities where housing demand consistently outpaces supply. Suburban locations benefit from lower land costs relative to city centres while maintaining strong connectivity and buyer demand.
A transparent capital flow from investor to project.
Each project held in its own dedicated company — isolating risk and assets.
In-house project management and construction oversight across every phase.
Clear reporting on capital deployment, milestones, and project progress.
Immediate deployment into identified Portuguese developments.
A residential apartment development targeting the middle-income buyer segment in one of Lisbon's most accessible and well-connected suburban locations.
A development of six contemporary individual villas in a high-growth area north of Lisbon, designed for owner-occupiers seeking modern, affordable homes.
Pipeline continues to grow. Additional projects under evaluation.
What differentiates LDV Invest in Portuguese private credit.
Targeting the largest and most undersupplied segment of the Portuguese housing market. Demand consistently outpaces supply from owner-occupiers and long-term renters.
Pre-identified project pipeline enables immediate capital deployment. No blind-pool delays — every project is evaluated before capital is committed.
Deep local knowledge and established municipal relationships enable faster, more predictable permitting — a critical advantage in development finance.
Simple, efficient, yet contemporary designs that maximise buyer appeal without inflating costs. In-house oversight protects margins throughout the build phase.
All projects priced conservatively relative to market comparables, creating a meaningful buffer against volatility and supporting strong pre-sale conversion.
Affiliated companies cover origination, development, project management, and construction — ensuring control and accountability at every stage.
Deep expertise across the full project lifecycle.
Hands-on experience in European residential and mixed-use development spanning land acquisition, planning, construction oversight, and asset disposal across multiple markets and cycles.
Deep expertise in international finance and private credit — enabling the investment to be efficiently structured for investor returns and tax optimisation.
Proven track record in rigorous project evaluation, credit underwriting, and end-to-end execution — from initial feasibility through to delivery.
Strong, established operating partnerships on the ground in Portugal — providing privileged deal flow access, local market intelligence, and construction execution capability.
A compelling macro backdrop for residential development finance.
Answers to the questions we hear most from qualified investors.
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