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RBR Asset talks about betting in New York

SiiLA


RBR Asset Management is officially studying the best option to open an office in New York, US. The decision to have a head office in the country is part of the expansion strategy of the Brazilian company.


Daniel Malheiros, Partner and International Investment Manager at RBR, spoke to the SiiLA team about the news. According to him, the exact location of the RBR address in North American territory has not yet been determined, but it's expected to take place by the end of September.


"We hired a real estate executive focused on the multifamily market to help us run the US operation, as well as expand into new growth strategies beyond the multifamily value-add we do today in New York City," according to Malheiros.


St. James

RBR has over $100 million in over 40 New York City properties. "We like the residential market (multifamily) because about 65% of Americans rent a place in the city", explains the executive. In addition, there are few vacant spaces for future tenants, a market moment favouring landlords in negotiating the rent value. "Historically, vacancy in the city is 2.5%. And today it is at an all-time low of 1.7%," he added.


Among the reasons, RBR believes in the New York real estate market as he points out the city's resilience, which has faced major crises in recent years - the 9/11 attacks, the subprime crisis, and the Covid pandemic; as well as the fact that New York is among the three most populated cities in the world and has a GDP that is practically equivalent to that of an entire Brazil.


SiiLA monitors the commercial assets that are part of RBR's portfolio in the country through the Market Analytics platform. The company owns, among others, the high-end development River One, in Butantã (SP). You can visit SiiLA SPOT to learn more about the corporate building.