BTG FII Invests BRL 1.7 Billion in Industrial Portfolio, Kinea Secures Guaranteed Income at Rochaverá, and Other Key Transactions of 2024

At the end of December, REsource reported that Brookfield is selling part of its Brazilian shopping mall portfolio, including Pátio Paulista and Pátio Higienópolis in São Paulo, for R$ 2.5 billion. This transaction is part of Brookfield’s strategy to realign its investments and focus on multifamily properties. The buyers include Iguatemi, BB Premium Malls, and other REITs. 

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In July 2024, Iguatemi and BB Asset acquired a 54% stake in Rio Sul Shopping, Rio de Janeiro, for R$ 1.15 billion, with a stabilized cap rate of 7.7%. Iguatemi took over management of the mall with the aim of improving its performance. 

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In the industrial properties market, a billion-dollar transaction involving BTLG11 moved R$ 1.7 billion across 13 assets in October, including BTLG Louveira VIII (photo). This purchase was part of the fund’s strategy to invest in premium assets. Read the full story here. 

LOG CP also had an active presence in the industrial properties market this year. In April, the company sold two assets to BTLC11 for R$ 509.7 million. Read the full story here. 

In October, another deal involving LOG CP and BTG moved R$ 484 million when two more assets were sold. Read the full story here. 

Kinea was behind one of the year’s biggest transactions, purchasing the Crystal Tower of the Rochaverá building for R$ 570 million in July. This deal involved a guaranteed minimum income for 72 months, which sparked controversy at the time. Read the full story here. 

In October, Pátria Prime Offices finalized the sale of its two main properties—the Metropolitan and Platinum buildings in São Paulo's Jardim Europa— to RBR for R$ 620.4 million. This deal had been exclusively reported by REsource in July. Read the full story here.  

In December, Azo Inc. sold 97% of the iconic Edifício A Noite in Rio de Janeiro to Brookfield. The deal reflects Brookfield’s strategy to invest in multifamily properties, revitalizing the building to meet the growing demand for high-end residences in the region. Read the full story here. 

In October 2024, BTG Pactual acquired 18 hotels from Accor in Brazil for R$ 1.7 billion, including the Fairmont Copacabana and Sofitel Ipanema in Rio de Janeiro. This transaction, the largest hotel deal of the year in Brazil, encompassed 2,600 rooms, positioning BTG as the largest hotel asset owner in the country. Read the full story here.