Capitânia Investimentos has recently announced the launch of its latest shopping fund, the Shoppings AAA FII (CPSH11). The fund comprises a selection of prime properties, including renowned Class A establishments such as Catarina Fashion Outlet and Shopping Cidade Jardim, as well as three Class B properties: Vila Romana, Iguatemi Fortaleza, and Ribeirão Shopping.

In an official statement, Capitânia Investimentos revealed that it has successfully acquired R$500 million worth of stakes in five shopping centers. These properties boast impressive track records, with average sales surpassing R$28,250 per square meter and generating an annual Net Operating Income (NOI) of R$2,133 per square meter.

To strategically assemble the fund's target assets, Capitânia has executed phased purchases. Currently, the fund holds a 6.1% stake in Cidade Jardim and a 10% stake in Catarina Fashion Outlet. Furthermore, it has acquired stakes amounting to 9% in Iguatemi Fortaleza, 10% in Vila Romana, and 5% in Ribeirão Shopping.

The launch of the AAA Shopping FII fund arrives amidst a challenging period for the real estate funds market, where securing new capital has become arduous due to the prevailing 13.75% Selic interest rate.

Capitânia Investimentos emphasized its extensive experience in monitoring shopping center transactions over the past 15 years and its significant involvement in financing numerous ventures within the sector. Notably, the firm has facilitated transactions totaling R$4.45 billion, encompassing both R$3.2 billion in debt financing and R$1.3 billion in real estate investment funds.

Shopping Cidade Jardim

Cidade Jardim is a property located in the city of São Paulo. Delivered in the third quarter of 2008, the gross leasable area (GLA) of the property is 38,899 m², and its occupancy stands at 97%, according to data from GROCS by SiiLA. The property stands out for its tenants, including brands like Gucci, Prada and Giorgio Armani.

Catarina Fashion Outlet

This property is located in the city of São Roque, in the interior of São Paulo, approximately 60 km away from the capital. The shopping center also boasts a high occupancy rate, exceeding 96%, with brands like Burberry, Calvin Klein and Hugo Boss among its occupants.