BTG Acquires Three GLP Portfolio Ventures

The R$ 760 million acquisition was finalized in late 2023

André Santos Esteves, President of BTG Pactual

By: SiiLA News

01/02/2024

Last Wednesday (27), BTG announced, through a relevant fact, the completion of the acquisition of three ventures formerly owned by GLP, totaling R$ 760 million. Combined, the assets cover 232,800 square meters and are located in the state of São Paulo within a radius of 30 to 100 km from the capital.

The announcement on the 27th follows another relevant fact from November, in which the company announced the purchase of three assets without revealing their identities. At that time, only the values and vague details of the ventures were disclosed, such as approved expansion, total area of the assets, and their distance from the capital.

The two ventures closest to São Paulo are in Cajamar, and the farthest is in Campinas. All assets are A+ grade and fully occupied, with two of them, the closest to the capital, occupied by a single tenant.

Get to know the assets

With 76,000 square meters of GLA, the former GLP Cajamar, now BTLG Cajamar Assaí, is a venture composed of two warehouses with four modules each, fully occupied by the wholesaler. Additionally, the asset has 91.98% efficiency, a floor capacity of 6t/m², and a clear height of 12 meters.

The former GLP Cajamar III, now BTLG Cajamar Amazon, is the second asset on BTG's shopping list. The venture, housing the multinational company in its name, was delivered in 2020, covers an area of 57,000 square meters of GLA, and has an efficiency of 89%.

Further from the capital, BTLG Campinas II, formerly GLP Campinas, has 13 tenants, including Mercado Livre, Claro, JSL, Coca-Cola FEMSA, and others. The venture has a GLA of 84,000 square meters but has an approved project for an expansion of 74,000 square meters on an already leveled space.

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