FII Receives Offer of R$ 42 Million for Sale of Edifício Alamedas in Jardins

The Hedge Office Income Real Estate Fund (HOFC11) received an offer of R$ 42.175 million (USD$ 8.54) for the sale of Edifício Alamedas, situated in the sought-after Jardins region of São Paulo. The buyer's identity has not been disclosed. The property has a total area of 2,474 square meters and is a class B office building. It is currently at full occupancy, according to SiiLA Market Analytics. The property delivered in 2017 was purchased by HOFC11 in March 2020.

São Paulo's Jardins region offers a prime location for businesses seeking Class A+, A and B office space, with an extensive inventory of over 261,000 square meters of office properties. The area is predominantly occupied by companies in the information technology, insurance and healthcare, creating a diverse business community with ample amenities and services.

According to the fund, the buyer's offer is 3.37% higher than the property's book value as stated in the most recent appraisal report from December 2022. HOFC11's office portfolio in São Paulo includes 42,000 square meters of total area.