Licensed · AMI 27242 · BoP 0008706 Lisbon office · Linda-a-Velha, Oeiras By application only
The Terrae Investor Club

For investors building a Portuguese real estate allocation.

A private community of qualified investors deploying capital into Terrae-sourced opportunities. Off-market deal flow, quarterly market intelligence, first refusal on our SPVs. Membership by application, by invitation, or by introduction.

What it is

A community, not a fund. A relationship, not a transaction.

The Investor Club is not a fund. It does not pool capital. It does not charge management fees. It is a curated community of qualified investors who have committed to evaluating — without obligation — the deal flow that Terrae sources, develops, or co-invests alongside.

When a Terrae-developed SPV opens for subscription, Club members see it first, and at terms that reflect their long-term commitment. When a private off-market property arrives at our desk, Club members hear about it before it reaches the public market. When we publish quarterly market intelligence, the unredacted version goes to the Club; the public version comes weeks later.

Member benefits

What membership delivers.

01 · Deal flow

First refusal on Terrae SPVs.

Members are notified of every Terrae development SPV at the soft-launch stage, before public marketing begins. Allocations are reserved for members who confirm interest within the priority window.

02 · Off-market

Curated off-market property briefs.

A monthly digest of off-market trophy properties and investment opportunities sourced through our private network. Each brief includes valuation context, owner motivation, and Terrae's view.

03 · Intelligence

Unredacted Market Intelligence.

Quarterly Market Reports delivered to members in full, with proprietary data, regional yield analysis, transaction flow, and our forward-looking view. The public version is shorter, slower, and published weeks later.

04 · Access

Direct line to the founders.

Members can request a call with Sandro Sousa or a senior partner directly, without going through the public intake. Useful when a brief is time-sensitive or sensitive.

05 · Tours

Priority access to curated property tours.

Three-day property tours of Lisbon, Cascais, and the southern coast — typically full eight weeks in advance. Members are allocated places before the public calendar opens.

06 · Annual dinner

The annual Club dinner in Lisbon.

One evening per year, at the Linda-a-Velha office. Members, founders, and a small number of invited guests. No pitches, no decks. Conversation, food, and the people behind the firm.

Membership criteria

Who the Club is built for — and who it isn't.

Built for

  • Investors with the ability to deploy a minimum of €250,000 per opportunity in Terrae-sourced SPVs or properties.
  • Qualifying as a professional or qualified investor under EU MiFID II terms, or equivalent in the investor's home jurisdiction.
  • Looking to build a multi-year allocation to Portuguese real estate, not a single one-off transaction.
  • Comfortable with EUR-denominated investment vehicles and Portuguese legal structures.
  • Willing to engage with Terrae as a repeat counterparty over time, not just one project.

Not the right fit

  • Investors looking for a one-off purchase below the €250k threshold — we recommend Buyer Advisory instead.
  • Investors expecting a guaranteed return. We don't offer that. Real estate carries execution, market and timing risk.
  • Investors looking for passive income immediately. Most Terrae SPVs are development plays with delivery 2-3 years out.
  • Investors who require liquidity within 12 months. Our vehicles target the property cycle, not the trading cycle.
Apply for membership

A short application. An honest conversation follows.

We review every application personally. Expect to hear back within 5 working days. If you'd like to skip the form and go straight to a call, write to sandro.sousa@terrae.pt.

By applying you agree to our privacy policy. Information submitted is reviewed only by Terrae partners and is not shared with third parties.

An important note. The Terrae Investor Club is a private community administered by Os Caetanos, Lda. Membership does not confer any rights to investment, return, or allocation. Individual Terrae SPVs are governed by their own subscription documents, term sheets, and accompanying due diligence pack, made available to members on a per-deal basis. Real estate development carries execution, market, and timing risk. Past performance does not guarantee future returns. This page is informational, not an offer of securities.