The Collegiate Way links to an article in Portuguese on the University of Coimbra’s lost colleges (translation by Google). The university claims to be the oldest in Portugal, founded in 1290 (Wikipedia), and once had more than two dozen colleges (map) founded between 1527 and 1779. They were dissolved in 1834, however, and now some of their surviving buildings house university departments.

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[Update 06.13.2015: Broken link to map replaced.]
[Update 01.05.2013: Broken links to article and translation removed.]