Engeform Launches Fund for Wooden Corporate Properties in Partnership with Noah

Engeform Gestão de Recursos announced on Tuesday (25) the launch of a Real Estate Investment Fund (FII) on B3. This fund is dedicated to developing wooden corporate properties in São Paulo. With an initial investment of R$ 190 million, the fund will support the construction of three buildings in the Pinheiros neighborhood, carried out by Noah, a company specializing in engineered wood construction.

“Structured and managed by ENGEFORM Gestão de Recursos, the FII raised R$ 190 million and will consist of three assets, primarily under built-to-suit contracts. For this, we will partner with NoahTech Brasil, a specialist in developing engineered wood (mass timber) projects, and Galapagos Capital, which played a major role in the fund's distribution, becoming the main investor through its wealth management arm, as well as acting as a specialized consultant for the FII,” the company announced.

According sources consulted by the editorial team, the new developments will encompass 10,000 square meters of gross leasable area and will adhere to the "boutique offices" concept, combining high quality with smaller floor plates than traditional corporate buildings. Two of the properties will be developed under ten-year "built-to-suit" (BTS) contracts, while the third will be intended for lease.

Noah, responsible for the construction, is a specialist in Brazil in the CLT (cross-laminated timber) technique, which allows for a shorter construction time, estimated between 12 and 15 months. Recently, the company partnered with McDonald's to build a sustainable store.

• Read more: Wooden Construction and Sustainable Developments | Giancarlo Nicastro Interviews Nico Theodorakis from Noah