Join our mailing list for Real Estate News, Events, Insights & Resources.
Capitânia announces asset sales as CPLG11 fund eliminates leverage
- Transactions total R$ 538 million and create an R$ 80 million profit cushion, ensuring predictable dividends of 14% per year
By: SiiLA News
09/15/2025 Capitânia announced the sale of three assets in two separate transactions, disclosed in a statement by Capitânia Logística FII (CPLG11). The deals involve the BTS Meli Araucária asset in Paraná, as well as CPLG Osasco and CPLG Mauá, both located in São Paulo.
The first transaction was also disclosed by the buyer, TRX’s real estate fund TRXF11. Capitânia is selling a 43.82% stake — roughly 40,000 sqm — in the property occupied by Mercado Livre for R$ 207.9 million, to be paid in three installments.
The second transaction involves 100% of the CPLG Osasco (35,000 sqm) and CPLG Mauá (48,400 sqm) assets, also in São Paulo. Valued at R$ 330 million, payment will be completed within 12 months. The Osasco property is a build-to-suit, 92% leased to Jamef, with the remaining space occupied by GPA, its former owner. Meanwhile, the Mauá asset is diversified across eight tenants, including Shopee, Benassi, and other logistics operators.
In total, the transactions amounted to R$ 4,800/sqm. According to SiiLA’s intelligence team, the BTS Meli Araucária deal recorded a 7.51% cap rate. Details of the second transaction are available on SiiLA’s Market Analytics platform.
The Fund
Speaking with Gabriel Backes Martins, Head of Real Estate Investment Strategy in the Logistics segment at Capitânia, he explained that these transactions are important for the FII because they allow the fund to eliminate all leverage. As a result, CPLG11 now provides dividend guidance, projecting a 14.12% annual dividend yield (R$ 0.13 per share).
“In this recycling process, we are selling three assets: Araucária, Mauá, and Osasco. In addition to generating significant capital gains, we took the opportunity to improve liquidity and deleverage the fund. We didn’t have a high level of leverage, but with these sales we cleared all debts, which is an important step,” Martins explained.
He also highlighted that the transaction is highly relevant for the fund’s future, creating room for new business opportunities still under evaluation.
“We generated around R$ 400 million in liquidity for new investments and built a cushion of nearly R$ 80 million in profits, which will be distributed over the coming semesters, providing predictable dividends. We estimate something around 14% per year,” he stated.
ABOUT SiiLA
Founded in 2015, SiiLA is the industry leading REsource for comprehensive commercial real estate market insights, news and events across Latin America. The SiiLA suite of innovative products drive greater accuracy, efficiency, and strategic advantages for top players in the commercial real estate industry.
Premium offices expand beyond São Paulo’s traditional hubs
05/20/2026São Paulo premium office leasing hits post-pandemic high as companies seek more dynamic spaces
05/19/2026Multifamily gains momentum in Brazil as more people live alone and prioritize everyday convenience
05/18/2026Toky Group Tries to Rebuild After Billion-Real Bankruptcy Protection Filing, Raising Concerns for Logistics FIIs
05/14/2026Carrefour Throws in the Towel to Cash-and-Carry in Brazil; Atacadão, Assaí and Grupo Mateus Expand
05/12/2026Investments
Record Growth: 7.9% Vacancy in Northeast Fails to Slow Logistics Expansion
7 Bridges Capital Sees Industrial Property Market as a Primary Investment Target
Market Trends
Real Estate Culture Sets Rio and São Paulo Apart: On the Coast, the View Matters; in São Paulo, Prestige Comes from Location
A 12% Vacancy Rate Marks Balance in Mature Real Estate Markets — Here’s Why
Trusted by Leading Publications
EXCLUSIVE CONTENT
