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Even buys half a billion Malzoni land in a coveted area of Faria Lima
- The deal was closed for R$500 million.
By: SiiLA News
04/06/2021 Even has just agreed with the Malzoni Group to acquire a large plot of land on the disputed axis of Faria Lima, the most important business area in São Paulo. The site will receive apartment, office, and hotel buildings, as well as shops, in a sign of confidence in the occupation of the properties despite the current concerns about social distancing and the duration of the remote work.
The deal was closed for R$500 million, of which about R$200 million will be paid in cash and R$300 million in exchange, Coluna learned from market sources. The sale of the units, on the other hand, is expected to make close to R$2 billion. As this is a significant undertaking, the launch will be divided into phases and carried out over the next few years.
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