GLOG11 REIT receives proposal to sell its entire stake in Parque Logístico Pernambuco for R$56.17 million
- Currently, GLOG11 holds 50% of the asset, and the buyer is VILG11, which owns the remaining half
The real estate investment fund GLOG11 received, this Wednesday (25), a proposal to fully sell its stake in Parque Logístico Pernambuco for R$56.17 million.
Currently, the fund owns 50% of the asset, while the potential buyer, VILG11, already holds the remaining half and aims to consolidate 100% ownership.
The asset is the only property in GLOG11’s portfolio, meaning that the potential completion of the transaction could lead to the full liquidation of its portfolio, depending on management’s decision and the attractiveness of the proposal for shareholders.
The stabilized cap rate of the transaction, as analyzed by SiiLA’s research team, is 13.76%.
Parque Logístico Pernambuco
The asset, classified as Class B, is located approximately 30 km from Recife Airport, in a strategic position between the PE-060 and PE-009 highways, and close to the Port of Suape. The complex sits on a land plot of approximately 300,000 sqm and has a Gross Leasable Area (GLA) of 70,300 sqm, distributed across three warehouses totaling 184 loading docks.
The development also features 130 uncovered parking spaces, of which 30 are designated for trucks. The asset currently has a market value of R$18.37 per sqm.
