Last week, Galoppo, through its real estate fund BlueCap Log (BLOG11), announced the end of a troubled relationship with children's clothing retailer Marisol. The outcome was the termination of the lease contract for the BlueCap Pacatuba property in Ceará. 

The contract termination was not amicable. The dispute began in November 2024, when Marisol failed to pay that month’s rent. In December, the retailer again defaulted, but on the 19th, both parties reached an agreement, which was honored. 

In March 2024, BLOG11 acquired BlueCap Pacatuba for R$ 42 million, with Marisol already as a tenant. Under the lease agreement, the retailer was required to pay R$ 413,000 every 15th of the month, covering the following month’s rent. 

However, in January, the situation repeated itself, and the tenant once again failed to make the payment. After receiving a formal notice and being charged a 2% penalty plus 1% monthly interest, the company announced on February 5 that it was terminating the lease early. 

Marisol must pay R$ 977,000, which includes overdue rent, settlement installments, and fees. According to the agreement, the amount will be paid in eight monthly installments of R$ 122,000, with the first payment made on Monday (17th). 

Claudio Algranti, CEO of Galoppo, stated that given the low vacancy rate in the Fortaleza region and Marisol’s history of late payments, the management company decided to accept the termination as part of a strategy to reposition the asset in the market. 

"This was a tactical decision. Marisol delayed rent payments for three consecutive months. The Fortaleza metropolitan market has low vacancies and rental prices higher than those previously agreed upon. Given this scenario, we saw this as a good opportunity to replace the tenant. Currently, we are in negotiations with potential new occupants. In any case, under the settlement agreement, the fund is still entitled to receive eight months of rent," Algranti explained.