10/10/2024 – 13:45
Rio Bravo Investimentos announced this Thursday, 10th, the completion of the acquisition of 5 properties in Pernambucanas located in the states of São Paulo and Paraná. The deal totaled R$68.53 million and strengthens the portfolio of the Rio Bravo Renda Varejo Investment Fund manager (RBVA11).
The properties, which total 10,535 m² of gross leasable area, are distributed in the cities of São Paulo, Curitiba, Franca, Assis and Santa Fé do Sul. The company expects a return of 14% in the first year.
“The acquisition of the Properties follows the investment thesis of portfolio diversification with properties that have characteristics that are extremely valued for retail.” says Alexandre Rodrigues, partner at Rio Bravo.
Payment for the acquisition will be made in 4 installments, the first of which, R$22.92 million, has already been completed. The remaining installments will be paid over the next 12 months, adjusted by indicators such as CDI and IPCA. “The operation has low initial cash exposure, of just R$22.9 million, with full receipt of revenue starting now, which increases this initial return.” says Alexander.
Lease contracts with Pernambucanas are of the atypical type, which guarantees the fund greater security in the event of early termination, as the fines are equivalent to the value of the remaining rentals until the end of the contract. Maturity terms vary between 2031 and 2037, ensuring revenue stability over the next few years. “The level of acquisition and profitability is attractive when considering the quality of the properties, the dominant location in their regions, the type of rental contract and the quality of the tenant.” adds Alexandre.
The acquisition is in line with the Fund’s strategy of diversifying its portfolio with high-quality assets and solid leasing contracts. The inclusion of new markets, such as Franca, Assis and Santa Fé do Sul, in addition to expanding exposure to the clothing and household appliances sector with Pernambucanas, reinforces the resilience of the portfolio. This diversification, which covers different retail segments, reduces exposure to specific economic cycles, offering greater stability to shareholders.
#Rio #Bravo #pays #R68.5 #million #properties #Pernambucanas