A few blocks from the shopping center, HSI, led by Maximo Lima, acquired Oi Leblon for R$ 205 million. At the time, partner and director of Real Estate Private Equity, Bruno Greve, stated that the building will undergo a retrofit of R$ 195 million and the intention is to transform the development into an A+ with 20 thousand square meters of leasable gross area.

Both transactions reflect the growing resurgence of investor interest in the Rio real estate market. Recent examples include the acquisition of land in Barra da Tijuca by Tegra and São José, as well as luxury projects at the former Hotel Glória by Opportunity. Despite the challenges faced by the city, such as a vacancy rate of 34.8%, investors and developers are increasingly optimistic.

Another bet by HSI was the purchase of the Hilton Copacabana for R$550 million in February 2024. The property belonged to Blackstone, and its sale is part of the company's strategy to exit the country. Seeing this gap, Maximo has already acquired the property.

In addition to the Rio de Janeiro property, HSI also owns the Hilton São Paulo and 17 other hotels in the Ibis network.

With JGP and HSI leading the way, the Rio real estate market may be on the verge of witnessing a significant transformation. Between the third and fourth quarters, the city saw a modest reduction in vacancy, 0.17%, but recorded a gross absorption of 33 thousand square meters and a net of 7.4 thousand square meters, which may not be the ideal number, but it could be a sign of recovery.