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A Billionaire Transaction Shakes Up Industrial REIT Market
- The logistics real estate fund BTLG11, managed by BTG Pactual, signed a letter of intent to acquire a portfolio of 11 developments.
By: SiiLA News
04/18/2024 A billionaire transaction stirred the Brazilian industrial market this week. BTG's industrial properties fund, BTLG11, participated in a billionaire deal announced on Monday (15). In a market disclosure, the purchase of 11 developments for R$ 1.75 billion was announced.
The developments were not disclosed, but the document revealed they are located in São Paulo, near the capital, within a 60 km radius. It's also revealed that 550,000 m² are being marketed.
Official information reveals that payments will be made in two installments: the first, at closing, representing 65% of the value (R$ 1.14 billion); and the second, after 18 months, representing the remaining 35% (R$ 610 million).
Speculations
Experts consulted by SiiLA affirm that it's not possible to guarantee which developments will be part of BTG's portfolio, but they believe the properties in question are all from GLP.
Speculations mentioned involve properties in Cajamar, Embu, Atibaia, and Greater ABC, as well as standalone warehouses and projects. Due to the market, logistics condominiums in Guarulhos may be excluded from the negotiations; the region could still be highly attractive and profitable for GLP.
Until the closing of this report, BTG did not comment on the matter, and GLP stated that it does not comment on market speculations.
The Fund
Currently, the fund owns 15 developments. Last Tuesday, the fund released a material fact disclosing the sale of two assets, BTLG Feira de Santana and BTLG Guarulhos, for R$135.5 million.
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