SYN closes a deal with Brookfield to transfer fractions of real estate



In a document published on Wednesday (20), SYN (former CCP) informed the market that it had closed a memorandum of understanding with Brookfield for R$ 1.77 billion to transfer ideal fractions of properties held by companies of its portfolio.

According to data from the SiiLA Brazil research platform, the transaction refers to four high-end assets, they are:

1) FL Financial Center - Located in the Faria Lima region, the project has 17 floors and 26,394 sq metres of total private area. It currently has an occupancy rate of 82.5% and has tenants such as Itaú and Bank of America.

2) Faria Lima Square - With a 95.3% occupancy rate, the development at Faria Lima region with 18,244 sq metres of private area. Among its occupants are SYN, EQI Investimentos, Banco Morgan Stanley and Klabin.

3) JK 1455 - The asset with occupants such as Regus, Banco Modal and Ferrero Brasil is located in the JK region. With 22.147 sq metres of a private area has an 88.5% occupancy rate.

4) Miss Silvia Morizono - Currently 100% leased, the asset is located in Faria Lima and has 16,289 sq metres of private area. Its main occupants are Cosan, Raízen, Moove and Rumo Logística.

In the document, SYN informs that "The Company is always on the lookout for business opportunities with the potential to generate value for shareholders. This transaction is conditional on SYN maintaining the management of assets and is in line with the strategy of becoming more asset-light and increasing the return on invested capital. As a result, the Company, in addition to maintaining the remaining portfolio of Triple-A, Class A buildings and Shopping Centers, continues to manage one of the largest Triple-A portfolios in the Faria Lima region ."