BR Properties SA (Bovespa: BRPR3) announced that in 2021 it had the 4th best year in terms of rental volume since the company was founded. The company informed the market that it sold 14 thousand sq metres of GLA in new leases between October and December, totalling 111 thousand sq metres leased in the year. There were 47.9 thousand sq metres against 34.8 thousand sq metres in 2020 in new office leases alone, a volume 38% higher, added to the 62.7 thousand sq metres related to the pre-leasing of Galpão Centauri. In addition, in January 2022, another 9 thousand sq metres of GLA were leased in the Paineira Tower of the Parque da Cidade Complex in São Paulo.
The company, considered one of the largest real estate investment companies, ended 2021 with financial and physical vacancy rates of 27.2% and 25.7%, respectively. Considering the January leases, the consolidated financial and physical vacancy rates are 25.9% and 24.2%. Disregarding the 101,926 sq metres acquired in the Parque da Cidade Complex, the economic and physical vacancy rates are 14.6% and 14.8%, respectively, representing a drop of 6.7 and 6.4 percentage points compared to the fourth quarter of 2020
“While the supply of new commercial developments drops in São Paulo and Rio de Janeiro markets, BR Properties separates itself from this scenario with a strategy focused on a pipeline of high-end developments, which is increasingly correct”, explains Martin Jaco, CEO of BR Properties.