Petros Sells Office Tower in Rio for BRL 128 Million with a 10.83% Cap Rate; Here's What You Need to Know

Petros, Petrobras' Social Security Foundation, has confirmed the sale of the General Horta Barbosa office tower, located in Rio de Janeiro, for BRL 128.7 million. The property spans 33,700 square meters. Analysis from the SiiLA platform indicates that the Cap Rate for this transaction is 10.83%.

The buyer was Petrobras, which already occupies the Class B building.

The Foundation also announced that it had completed two additional asset sales in Bahia. The Caminho das Árvores property was sold for BRL 28.5 million, while Petros sold its 30% stake in Hiper Bahia for BRL 53.6 million. Both properties are currently vacant, according to the company.

In an official statement, the Foundation, led by Henrique Jäger, emphasized that the transaction aligns with the CMN Resolution 4.994/2022, which mandates the divestiture of assets that are incompatible with investment profiles by 2030.

“Petros has completed the sale of three properties from its portfolio, in accordance with the current legislation (CMN 4.994/2022), which sets a deadline of 2030 for the sale of real estate assets or their transfer to real estate investment funds, as part of the divestment plan for assets that do not align with the Foundation's profile or the investment portfolios they were part of,” the statement reads.