Last week, the real estate investment trust RBR Properties (RBRP11) announced to the market and shareholders through a relevant fact the completion of the sale of its 86.3% stake in the Amauri 305 property for R$ 62.8 million. An analysis made by SiiLA indicates a stabilized Cap Rate of 6.27% in the transaction.

According to the management company, the sale is part of the fund's portfolio renewal strategy, involving divestment from assets that have reached maturity. The asset, located in the Itaim Bibi neighborhood, was acquired by the RBR fund back in 2019 for approximately R$ 26.5 million. In the fund's most recent management report, the valuation was estimated at R$ 48.134 million.

After taking over asset management, the fund embarked on a retrofit project to reposition the property, which had an 81% vacancy rate and an average rental price of R$ 55/m². Facade renovation, lobby refurbishment, accessibility improvements, and electrical system upgrades were included. Following repositioning, vacancy was eliminated, and the average rent increased to R$ 127/m².

The buyer's name was not disclosed in the sale announcement. 

Other developments in the region

Other companies are investing in office properties in the region, such as Idea!Zarvos. Across the street from the Amauri 305 Building, there are signs of an ongoing project by Idea!Zarvos and Linka Engenharia, indicating a new commercial building in the area. The project suggests that the future development, expected to be named de Edifício Comercial Amauri, will have 11,815 m² of built area, with 14 commercial floors, a rooftop, five basement levels, and a ground floor with double-height ceilings.

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