Also, according to the executive, "Brookfield purchased a very well-structured portfolio that, despite having a relevant vacancy – the portfolio average is 24.4% – it is at the same levels as the market according to SiiLA's market monitoring in the country." "For a company like Brookfield that looks at the long term, this acquisition should yield a good positioning in the coming years. In the long-term view, SiiLA's data anad analytics indicate that the lack of new stock will cause the occupancy of corporate developments to increase. The tendency is that, with the lack of new developments, the large slabs in well-located projects start to be more competitive. 

This transaction includes iconic projects in the Brazilian corporate market, such as Parque da Cidade and Complexo JK, in São Paulo and Edifício Ventura, in Rio de Janeiro. In total, 380 thousand m² of corporate property area were negotiated.

In a statement to the market, BR Properties informed that "the transactions reinforce the success of the strategy pursued by the company in the last years, aiming at, among other objectives, recycling its portfolio, monetizing its investments in a favorable manner, while continuously maintaining the process of optimizing its capital structure, reducing its indebtedness and allowing the adoption of a cautious positionregarding the company’s liquidity, balancing its capital structure with the Brazilian macroeconomic situation.

Source: Estadão