I spoke to my lawyer about this one month ago.
1). After you receive your PR with the ARI carve out you can sell your investment. This is necessary for people who invested in funds, not to mention real estate.
2). You should be able to renew the same ARI carve out PR at the end of 5 years on GV PR even if you no longer own your investment. This has not been tested yet since nobody has had to do it!! We know that Portugal could change the rules though.
3). The cost is expensive for the GV PR (~8k+ per individual). You can continue to renew TR at the low cost but you would need to continue to hold your investment as I understand it (you should check this point as I didn’t cover it with our attorney)
Caveat: as always things/rules can change!