Discover the RBR retrofit work at the Amauri 305

The manager acquired the asset in April 2019 for an approximate value of 26.5 million reais.

Facade of Amauri 305 Building.

By: SiiLA News

10/06/2022

Now that you know what retrofit is and how this concept applies within the real estate market, it's time to get to know some assets that went through this process and understand the change in practice: the first one, this time is the Amauri 305 Building, which is part of the RBR Asset Management portfolio.

Located in the south of São Paulo, in the Faria Lima region, the building has a private area of 2,950.8 sq meters, with ten floors, and each floor has 270.44 sq meters of private area.

The manager acquired the asset in April 2019 for an approximate value of 26.5 million reais. At that time, the building was 81% vacant, with 19% occupied, with an asking price of R$50/sq meter, according to RBR. The process of retrofit started five months after the acquisition, and the entire renovation was carried out for approximately 11% of the transaction value.

The changes involved the renovation of the facade, the entrance hall, and all the floors. In addition, the project was adapted to accessibility standards and worked to renovate the electrical system.

Currently, the rent value exceeds R$115/sq meter, and RBR believes that in the coming months, it may exceed R$150/sq meter.

Please check RBR's portfolio available on SiiLA SPOT.

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