FII RBR Properties to develop commercial development at Vila Olímpia

The SPE intends to develop a corporate building with a projected gross leasable area of approximately 3,619.51 square meters.

FII RBR Properties to develop commercial development at Vila Olímpia.

08/17/2021

On Monday (16) BRL Trust, the administrator of FII RBR Properties, informed through a Relevant Fact the signing of the definitive corporate documents relating to the Fund's participation in a Specific Purpose Company ("SPE") whose purpose is the development of corporate real estate on a plot of land located in São Paulo, at Rua Jesuíno Cardoso, 589.

They paid R$22,272,000 for the land acquisition, with a forecast of the final deed in September 2021.

The SPE intends to develop a corporate building with a projected gross leasable area of approximately 3,619.51 square meters. The project's final size will depend on the final project specifications, project approval, and the final format of the real estate product to be built on-site.

The Fund, upon completion of the development of the project, will have an expected share equivalent to approximately 60% (sixty percent) in the complete asset, given that, until the project is ready and leased, no amounts will be received by the Background, without impact, therefore.

Read the full story (in Portuguese).

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