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FACTBOX-Recent real estate deals in Brazil

Published: 03 Nov 2009 17:46:47 PST

NEW YORK, Nov 3 - Brazil, a future host of the World Cup and the Olympics, is drawing global investor interest to its real estate sector. As investors and analysts predict a wave of investment in Brazil in coming months, here is a sampling of recent deals:

* New York-based GoldenTree InSite, an opportunistic real estate company that invests money from pension funds and other institutional investors, raised $500 million to invest in booming Brazilian real estate. Golden Tree sold out a 104-unit residential project directed at middle-income families in Sao Paulo's Vila Carrao area in four hours.

* Portuguese hotel group Porto Bay acquired the 80-room boutique hotel L'Hotel in Sao Paulo.

* VALIA, one of Brazil's largest pension funds, bought part of the Continental Tower under development, also in Sao Paulo, for 208 million reais.

* BR Malls, the group formed by GP Investimentos and Equity International, bought a shopping center for 188 million reais.

* Sao Carlos, a local real estate company listed in the Bovespa, sold two warehouses in Rio de Janeiro and one in Pernambuco for 107 million reais.

* Canada's CPP Investment Board entered into a joint venture with Cyrela Commercial Properties S.A. Empreendimentos e Participacoes. The venture, which will also include the real estate investment arm of the government of Singapore, will focus on the development, acquisition and management of institutional-quality commercial property. CPP's investment consists initially of a $150 million commitment with the option to increase to $250 million.

* Standard Life Investments, one of the largest property investors in Europe, made its first direct investment in the Brazilian real estate market with the acquisition of a 13-floor office property in Sao Paulo whose tenants include oil, shipping and bioscience companies, for about 15 million reais. Source: Jones Lang LaSalle, Reuters


Source: Reuters

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