Market speculations and sources indicate that the Canadian developer Brookfield Asset is in the process of acquiring nine industrial properties from GLP, for an amount of R$ 750 million (approximately US$ 154,4 million*), in Brazil. Although the specific properties have not been disclosed, information suggests they are located in the southeast, central-west, and northeast regions, all maintaining a 100% occupancy rate.

Approached by the REsouce team, both GLP and Brookfield Asset have adopted cautious stances. GLP stated it does not comment on market speculations, while Brookfield Properties revealed it does not comment on potential ongoing negotiations. The set of assets targeted in this transaction has a total gross leasable area (GLA) of 350,000 square meters.

Brookfield, a multinational present in 13 countries, owns over 900 properties, encompassing approximately 31 million square meters in diverse developments such as corporate buildings, shopping centers, multifamily, industrial properties, and hospitality, among others. In Brazil, its presence is mainly focused on office buildings, with few industrial assets, as indicated by Market Analytics, SiiLA's data analysis platform.

On the other hand, GLP stands out as one of the leading industrial players. Their portfolio includes over 40 properties in the country, ranging from high-standard industrial properties to standalone warehouses. The company dedicates its expertise entirely to the logistics sector and operates in key regions throughout the country.

According to Market Analytics, which maps class A+, A, and B industrial properties, the growth in the industrial asset segment represents an investment opportunity for industry companies. Since 2017, the vacancy rate for these assets has decreased from 24.4% to 9.7% in 2023. During the same period, the stock of these developments has increased significantly, from 13,341,726 square meters to 24,496,954 square meters.

The potential acquisition of GLP's assets may be directly related to this notable growth in the logistics sector. Unlike the office market, the segment has remained robust during recent crises. The COVID-19 pandemic, for example, resulted in an increase in office vacancies, rising from 19.87% in 2019 to 25.08% in 2023.

This trend in the industrial market seems to be reflected in other notable transactions, such as the R$ 1.3 billion (approximately US$ 267.7 million*) offer made in July by the real estate investment fund CSHG Logística, linked to Credit Suisse, for the acquisition of the entire portfolio of four assets from GTIS Brazil Logistics.

*Conversion conducted on November 14th, 14:09 UTC