Bravo! Paulista's Retrofit Attracts Two New Tenants Within a Month

Bravo! Paulista office tower, part of the real estate portfolio of Rio Bravo Renda Corporativa (RCRB11) fund, is currently experiencing a surge in demand. In less than 30 days, the fund has successfully announced two lease contracts for this Class B property, located on Paulista submarket in São Paulo city.

The most recent lease contract was secured by Newland, a specialized technical consultancy company, which will occupy one of the units in the development spanning approximately 215.3 square meters for the next five years.

In early June, the fund celebrated another lease contract with Kat Investimentos, a company offering portfolio management and financial solutions, that will occupy two suits in the property.

"This new lease demonstrates the attractive potential of the property and confirms Rio Bravo's investment strategy in the development, located in one of the country's main CBD region, seeking long-term rental income and the construction of a high-quality portfolio", the fund states. Rio Bravo Renda Corporativa holds 94.2% of Bravo! Paulista.

Situated on Alameda Santos in the  Paulista region, the asset boasts a total private area of over 5,700 square meters spread across 14 floors, as reported by Market Analytics. Bravo! Paulista recently underwent a revitalization process, detailed in our previous coverage on REsource. The property's retrofitting included valuable enhancements such as LEED certification, repairs to internal and external coatings, and modernization of the infrastructure. Notably, CH3 Construtora has signed on for the model office project within the building.

In fact, Newland leased the space under the plug-and-play modality,  eaning it will be delivered fully equipped and ready for immediate use. "The initiative to deliver a floor ready for the tenant's operations aims to bring greater liquidity to portfolio assets with vacancies, providing more favorable commercial conditions and, thereby, maximizing profitability for the invested capital", reinforced Rio Bravo.