LOG CP continues to make significant strides in its asset recycling strategy, with the recent announcement of the sale of five industrial properties in the country. The warehouse developer first disclosed the sale of three assets to a fund owned by BTG Pactual (BTLG11), followed by the notification of the sale of two additional properties for another fund, FII Golgi Real Estate Investment Fund.

Within the transaction with the BTLG11 fund, two of the three sold assets are situated in the Northeast region of Brazil, with one located in Fortaleza (CE) and the other in Recife (PE). The third property is based in the city of Goiânia (GO). The total value of this transaction amounted to an impressive R$ 733.6 million (approximately 148.3 million dollars).

In a statement, LOG CP emphasized that it is capitalizing on institutional opportunities for its assets, ensuring that the transaction was executed at prices consistent with those reflected in the company's balance sheet. This strategic move will enable the company to effectively recycle its capital, acquire resources to reduce debt, and strengthen its financial position.

Learn more details about the assets sold to the BTG fund:

Log Fortaleza II (A+)

The asset was delivered in the third quarter of 2021 and has a Gross Leasable Area (GLA) of 93,021 sqm. It is occupied by companies in the Retail and E-commerce sectors.

Log Goiânia II (A)

This property was also delivered in the third quarter of 2021, with 47,928 sqm of GLA. Its tenants include companies in Transportation and Logistics, E-commerce, and other industries.

Log Recife (A)

The second-largest property involved in this transaction was delivered in the end of the second quarter of last year, with a GLA of 88,144 sqm. Currently, the asset is 100% leased by a major player in the E-commerce segment.

The data is sourced from the SiiLA real estate intelligence platform. To access complete information on these and other assets, explore Market Analytics.