The iconic Birmann 32, located on Faria Lima Avenue in São Paulo, known for the whale sculpture in its outdoor area, now has new investors. The real estate investment fund BGR Asset Management (BGRB11), which is yet to be listed on the stock exchange, acquired a 12.87% stake in the building. Arton Advisors is the company behind BGR's fund.

The price paid by the new investors was R$43,000 per square meter. According to an exclusive analysis from the Market Analytics platform by SiiLA, the transaction presents a stabilized Cap Rate of 7.1%.

"Our interest in having a stake in B32 has been long-standing, with many previous attempts. This time, there was alignment between the parties, and we were able to secure a stake in what is undoubtedly the best and most iconic office building in São Paulo," said Martín Jacó, Founding Partner of BGR Asset.

As a result of this deal, Birmann's stake in the property has been reduced to 23.5%. BGR Asset will now take over the management of leases and be responsible for negotiations with tenants.

Market experts believe this transaction comes at a timely moment for future investments, especially with the new project planned for the former Arena XP site on Faria Lima, just ahead of Birmann 32.