GGRC11 buys another logistics warehouse in Extrema for R$ 142.5 million; find out more
- Real estate investment fund acquired an asset developed by Vinci Fulwood; property is leased to Midea’s logistics operator
The real estate investment fund GGRC11 announced the acquisition of 100% of the shares of VFDL2 Empreendimentos Imobiliários, a company that holds the rights to Warehouse C at Infinity Business Park, in Extrema, Minas Gerais. The transaction is valued at R$ 142.5 million, with payment made through the financial offset of credits related to the fund’s 11th share offering.
The assets have 38,000 sqm of gross leasable area (GLA) and was delivered in September 2025. The A+ industrial property was developed by the Vinci Fulwood Desenvolvimento Logístico FII.
(Details, background information, transaction values, analysis and Cap Rate are available exclusively to subscribers)
The warehouse is fully leased to Buiatte Transportes e Logística, Midea’s logistics operator. Midea is a Chinese home appliance manufacturer. According to GGRC11’s announcement, the property is used as a storage and distribution hub for the company’s products, mainly supporting e-commerce operations.
As of the publication of this...
Transaction details
The lease agreement began when the property was delivered, has a five-year term and a monthly rent equivalent to approximately R$ 31/sqm.
According to data from SiiLA’s Market Analytics, the market rent for industrial assets in the Extrema region is R$ 24.95/sqm, while the cap rate calculated by the platform for the transaction is 8.95%.
The fund stated that the acquisition is aligned with its strategy of investing in institutional-grade logistics assets.
Located approximately 100 km from São Paulo, Extrema is one of Brazil’s main logistics hubs, concentrating industrial operations, logistics operators and distribution-focused companies.
Other transactions
The acquisition comes shortly after another transaction involving GGRC11 and assets developed by Fulwood. In June, the fund also announced the acquisition of four modules of Warehouse 2 at Pouso Alegre Business Park, a project still under construction in Minas Gerais. The transaction was valued at R$ 96.4 million and involves an expansion of the asset, which is expected to be completed in the second quarter of 2027.
At the time, the agreement included a minimum guaranteed income (MGI) of R$ 32.50/sqm over the estimated total GLA during the completion period. The cap rate disclosed for the acquisition was 8.51%.
Subscriber? Sign In
