EXCLUSIVE: After Reag's exit, Bothanic Faria Lima Corporate leased to law firm; find out more

Following the controversy involving its former occupant, Bothanic Faria Lima Corporate has been leased to a law firm under a long-term agreement

SUBSCRIBER EXCLUSIVE

Paulo Cezar Aragão, founding partner at BMA | Image: courtesy of BMA

By: SiiLA News

06/17/2026

After a prolonged vacancy period, Bothanic Faria Lima Corporate has finally secured a new tenant. The 5,100-square-meter Class A office building, located in São Paulo's Faria Lima district, will serve as the headquarters of law firm BMA – Barbosa Müssnich Aragão Advogados for the next 10 years.

The property made headlines across Brazil — including in REsource — following the controversy surrounding its former occupant, asset manager Reag, which was cited in Operation Carbono Oculto, an investigation into an alleged money laundering scheme linked to the financial sector.

(Details of the transaction, including pricing and lease terms, are available exclusively to subscribers.)

Faria Lima

Faria Lima continues to reinforce its position as Brazil's premier corporate office destination. Recent market data shows that demand remains strong, particularly for modern, well-located office properties.

After reaching a vacancy rate of 12.5% in early 2024, the district gradually absorbed part of the available space over the following quarters. Despite some isolated tenant move-outs, leasing activity remained steady, keeping Faria Lima among São Paulo's most sought-after office markets.

Results from the first quarter of 2026 further support this trend. The district recorded nearly 23,000 square meters of new leasing activity, the highest volume seen in the last two years, highlighting continued corporate demand for the area. In this context, BMA's move to Bothanic Faria Lima Corporate illustrates an increasingly clear market dynamic: although companies now have more options across São Paulo, move-in-ready buildings in prime locations continue to attract tenants and command premium rents.

The new contract

According to information obtained by REsource, BMA Advogados is paying R$260 per square meter, equivalent to approximately R$1.3 million per month. Sources familiar with the transaction said the lease was signed for a 10-year term and does not include a rent-free period.

According to SiiLA data, the rental rate is approximately 29% above the average achieved in the Faria Lima market. The premium reflects the building's recent renovations and fully fitted condition, features that place the asset above the market average.

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Founded in 2015, SiiLA is the industry leading REsource for comprehensive commercial real estate market insights, news and events across Latin America. The SiiLA suite of innovative products drive greater accuracy, efficiency, and strategic advantages for top players in the commercial real estate industry.