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BTLG11 Completes Acquisition of Two Industrial Properties Within São Paulo’s 30 km Radius for R$ 385.9 Million
- Located in Mauá and Osasco, the assets total 83,400 sqm of GLA and are fully leased to tenants such as Shopee, Jamef and GPA
By: SiiLA News
12/08/2025 BTLG11announced last Friday (5) the completion of its acquisition of two logistics assets previously held by CPLG11, in a R$ 385.9 million transaction disclosed via a material fact. The deal involves the SPEs that own the CPLG Osasco and CPLG Mauá properties—both Class A and fully occupied—which together add 83,400 sqm of Gross Leasable Area (GLA) to the fund’s portfolio.
The payment structure was divided into three stages. On November 28, BTLG11 made an initial payment of R$ 55.9 million to secure the acquisition. Last Friday, it paid the closing installment of R$ 179.2 million. A remaining R$ 50 million is still due within 12 months, adjusted by the IPCA and subject to an annual 5% interest rate. The contract also includes an earn-out of up to R$ 5.9 million, contingent on the successful rent review of one of the tenants. The stabilized cap rate for the transaction is approximately 8.12%.
Rationale Behind the Acquisition
According to BTG, the purchase strengthens the fund’s strategy of increasing its exposure to the “30 km radius of São Paulo,” an area marked by strong demand for urban logistics and last-mile operations. Beyond their high construction standards, both assets offer potential for rental upside through revisionals, in line with the broader trend of rising rents in well-located logistics properties.
CPLG Osasco
Located near the Anhanguera and Governador Mário Covas highways, CPLG Osasco features 35,000 sqm of GLA and 114 docks. The asset is fully leased to two tenants: Jamef Transportes, a national leader in less-than-truckload operations, and GPA, one of Brazil’s largest retail groups.
CPLG Mauá
This Class A asset sits between Jacu Pêssego Avenue and the southern section of the Rodoanel, with convenient access to the Anchieta Highway and Avenida do Estado. It offers 48,400 sqm of GLA, two warehouses, 72 docks and 114 uncovered parking spaces.
The property is currently 100% leased, with Shopee, Grupo Benassi and United Logistics as its occupants.
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