RBR Asset talks about betting in New York

Daniel Malheiros, partner and international investment manager at RBR, spoke to the SiiLA newsroom about the news. According to him, the exact location of the RBR address in North American territory has not yet been determined, but it's expected to take place by the end of September.

"We hired a real estate executive focused on the multifamily market to help us run the US operation, as well as expand into new growth strategies beyond the multifamily value-add we do today in New York City," according to Malheiros.

RBR has over $100 million in over 40 New York City buildings. "We like the residential market (multifamily) because about 65% of Americans rent in the city", explains the executive. In addition, there are few vacant spaces for future tenants, a market moment favoring landlords in negotiating the rent value. "Historically, vacancy in the city is 2.5%. And today it is at an all-time low of 1.7%," he added.

Among the reasons, RBR believes in the New York real estate market as he points out the city's resilience, which has faced major crises in recent years - the 9/11 attacks, the subprime crisis, and the Covid pandemic; as well as the fact that New York is among the three most populated cities in the world and has a GDP that is practically equivalent to that of an entire Brazil.

Here, SiiLA monitors the commercial assets that are part of RBR's portfolio in the country through the Market Analytics platform. The manager owns, among others, the high-end development River One, in Butantã (SP). See the property's page on SiiLA SPOT to learn more about the corporate building, and check out the full report that SiiLA recorded on-site here.