Brookfield announced this Wednesday (18) the acquisition of 12 corporate buildings from BR Properties for R$ 5.9 billion. The real estate transaction includes eight assets in São Paulo, 1 in Brasília and another 3 in Rio de Janeiro. According to SiiLA data and analytics, of thse 12 properties, 10 of them are rated as high standard (A+ and A).
"BR Properties maintains a posture of constantly renewing their portfolio. They had done this already with indsutrial properties, and now they are doing this with their office buildings. Meanwhile, Brookfield has a long-term strategy, which makes this transaction beneficial to both companies," comments SiiLA CEO Giancarlo Nicastro.
Also, according to the executive, "Brookfield purchased a very well-structured portfolio that, despite having a relevant vacancy – the portfolio average is 24.4% – it is at the same levels as the market according to SiiLA's market monitoring in the country."
"For a company like Brookfield that looks at the long term, this acquisition should yield a good positioning in the coming years. In the long-term view, SiiLA's data anad analytics indicate that the lack of new stock will cause the occupancy of corporate developments to increase. The tendency is that, with the lack of new developments, the large slabs in well-located projects start to be more competitive.
This transaction includes iconic projects in the Brazilian corporate market, such as Parque da Cidade and Complexo JK, in São Paulo and Edifício Ventura, in Rio de Janeiro. In total, 380 thousand m² of corporate property area were negotiated.
In a statement to the market, BR Properties informed that "the transactions reinforce the success of the strategy pursued by the company in the last years, aiming at, among other objectives, recycling its portfolio, monetizing its investments in a favorable manner, while continuously maintaining the process of optimizing its capital structure, reducing its indebtedness and allowing the adoption of a cautious positionregarding the company’s liquidity, balancing its capital structure with the Brazilian macroeconomic situation.
Gian and BR Properties visits Parque da Cidade.