Yesterday (26), NewPort Real Estate announced in a material fact notice the termination of the purchase and sale agreement for the NewLog Goiânia II property, which was owned and fully leased by the retailer Novo Mundo. If completed, the deal would have been a 15+15-year sale and leaseback transaction.

According to the notice released by the Newport fund (NEWL11), the cancellation was prompted by the failure to meet contractual conditions, further complicated by Novo Mundo's bankruptcy protection filing.

Initially announced in April of this year, the transaction involved the purchase of a property located along the BR-153 highway. However, the process depended on fulfilling undisclosed precedent conditions, which were not met.

In July, the fund informed the market about Novo Mundo’s bankruptcy protection request and began monitoring the situation with legal support. In Tuesday’s statement, the fund explained that the decision to terminate the contract was made to protect investors' interests, with no financial disbursement by NEWL11.

“Our commitment is to move forward safely with acquisitions, prioritizing assets that add value for investors,” the fund’s management stated. Newport Real Estate also highlighted that other properties in the acquisition pipeline remain under consideration and will be announced soon.

Led by CEO José Guimarães, Novo Mundo is a major in the Brazilian Midwest region. In 2023, it reported R$ 1 billion in net sales revenue and operates more than 150 stores across 10 states.