The commercial real estate company for income BR Properties is close to making its debut in the real estate investment fund market, with a portfolio of around 530 million reais of its own properties.
"We are just waiting for a window on the market," BR Properties CEO Martín Andrés Jaco told Reuters in a Reuters interview.
According to the executive, the first fund will have the company's name. It will be formed entirely of its own assets, commercial towers, as a way of "give up the recycling of real estate inventory". He explained that the fund might later have "follow ons", depending on market conditions.
According to the executive, as he is both a real estate manager and a fund partner, this model can give investors greater confidence than in the traditional portfolios offered on the market, in which these activities are segregated.
In addition, office towers owned by the company have outperformed the average of commercial buildings in large capitals, which are heavily suffering from the effects of the Covid-19 pandemic, with high levels of vacancy.