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Brookfield bets on multifamily and negotiates with Luggo
- In the first purchase, 5,100 apartments were acquired for R$1.26 billion.
By: SiiLA News
10/21/2022 Luggo, an MRV proptech focused on residential rental,
and Brookfield have negotiated the second batch of a package of residential
buildings. This negotiation is expected to involve a similar amount to that of
last December when the first package purchase took place. In a conversation
with Estadão newspaper, MRV's CFO, Ricardo Paixão, stated that the company
remains enthusiastic about the partnership and is always looking for new
business opportunities.
In the first purchase, 5,100 apartments were acquired
for R$1.26 billion, and now the expectation is to reach a similar amount.
If the transaction is concluded, Brookfield will have around 10,000 apartments for rent in the country. This move serves as an entry point for the company to grow within the residential segment, increasingly betting on multifamily.
A multifamily property is a residential complex with more than one housing unit in the same building. Properties are called multifamily when all of their apartments are intended for rent and are registered under a single registration number, with a single owner.
SiiLA monitors several of Brookfield's commercial assets, including Faria Lima 3500. This property has a total private area of 22,786 square meters and is located in the Faria Lima region, in the western zone of São Paulo. Delivered in 2014, this asset is classified as class A+.
If the transaction is concluded, Brookfield will have around 10,000 apartments for rent in the country. This move serves as an entry point for the company to grow within the residential segment, increasingly betting on multifamily.
A multifamily property is a residential complex with more than one housing unit in the same building. Properties are called multifamily when all of their apartments are intended for rent and are registered under a single registration number, with a single owner.
SiiLA monitors several of Brookfield's commercial assets, including Faria Lima 3500. This property has a total private area of 22,786 square meters and is located in the Faria Lima region, in the western zone of São Paulo. Delivered in 2014, this asset is classified as class A+.
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