GGRC11 acquires Alianza FII portfolio for R$ 156.5 million

The properties total more than 47,000 m² of gross leasable area. The transaction includes credit compensation and the assumption of liabilities, with completion expected within 35 days

Pedro van den Berg, CEO and Head of Asset Management at Zagros

By: SiiLA News

04/24/2025

Zagros Capital has announced, through a material fact, the acquisition of two properties — Urban Hub Guarulhos and Urban Hub Mauá — for R$ 156.5 million. The assets will become part of the GGR Covepi real estate investment fund (GGRC11), with the seller being the Alianza Urban Hub fund (AURB11).

According to the statement, R$ 7.5 million will be paid as a down payment, while the remaining balance will be settled “through financial credit compensation and the assumption of the current liabilities associated with the assets.”

The transaction is expected to close within 35 days, subject to the fulfillment of the conditions established in the purchase and sale agreement. If the conditions are not met, the fund will recover the down payment.

AURB11 holds only the two assets involved in the deal, and REsource’s editorial team was unable to contact the fund to confirm its future plans.

According to SiiLA’s intelligence team, the transaction registered a cap rate of 8.32%. When analyzing the assets individually, the Guarulhos property posted a higher cap rate than the Mauá asset — 9.4% and 7.4%, respectively.

The Assets

Urban Hub Guarulhos offers 20,800 m² of gross leasable area (GLA) and is fully leased. The property is occupied by four tenants, with the largest being Supermercado Chama, which leases 10,400 m², followed by Mult Bev (5,200 m²), Platinum Log (3,400 m²), and Dux Trucking (1,700 m²).

Publicly available information shows the property's approximate monthly revenue is R$ 553,000, equivalent to roughly R$ 26.4 per m².

The second property, Urban Hub Mauá, has 26,600 m² of GLA and four tenants. Its average monthly revenue is R$ 557,000, or about R$ 20.9 per m².

About the GGRC11

Disclosure

Launched in 2017, GGRC11 is a real estate investment fund primarily focused on industrial and logistics properties, including distribution centers leased to major companies such as Ambev and Hering.

Recently, the fund also announced the acquisition of the entire RELG11 portfolio for R$ 133.4 million, a transaction similar to the current one. That deal included four properties located in Cotia, Extrema, Queimados, and Contagem.

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