FII Rio Bravo closes lease agreement deal with Santa Lolla

On Monday (14), Fundo de Investimento Imobiliário Rio Bravo informed the market through a material fact regarding a lease agreement deal for three sets of Continental Square Faria Lima for companies of the Santa Lolla group operating in the footwear business.

According to Rio Bravo, sets 91, 93 and 94 will be leased, corresponding to 1,636 sq metres, representing 21% of the BOMA area of the property, belonging to the FII. With this new lease, Rio Bravo is projecting a reduction in vacancy from 32.2% to 28.4%.

According to data from SiiLA's Market Analytics platform, Continental Square Faria Lima is a class A development, with a total of 31,768 sq metres of BOMA area. Located in the Vila Olímpia region, the building has Michael Page Internacional, Grupo Boticário and Diageo among its main tenants.