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The average rent at BR Properties rises 16.1% in one year

  • Compared with 2Q22, the company also recorded an increase of 3.1%.
BRPR CAJAMAR I
BRPR CAJAMAR I
By: SiiLA News
11/07/2022
BR Properties, an investment company in commercial income real estate, announced in a conference call that the average sq meters value of its portfolio, considering current and new contracts, presented at the end of the 3rd quarter of 2022, a nominal increase of 16.1% in comparison to the same period of 2021.

Compared with 2Q22, the company also recorded an increase of 3.1%. Also, according to the presentation, the company recorded net revenue of R$84.8 million in 3Q22. In the year, the amount has already accumulated R$266 million.

Office sale concluded

During the conference call, BR Properties also stated that it completed the sale of 12 commercial offices to Brookfield in July for a total amount of BRL 5,923.5 million. According to the company’s statement, “after the transaction, the company acquired 70% of the total price of the properties (R$4,147 million), and the installments of the installment price, corresponding to 30% of the total price (R$1,776.5 million). ), will be settled within 12 months from the respective closing dates, duly corrected under the transaction documents”.

The sale of the portfolio in question was announced in May and included major developments, such as Parque da Cidade and Complexo JK, in São Paulo and Edifício Ventura, in Rio de Janeiro. In total, they have negotiated 380,000 sq meters of corporate property area.

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