A source in the real estate market exclusively confirmed to REsource, the SiiLA portal, that RBR Asset is expected to launch a public offering of shares in the coming days to facilitate a new real estate investment fund aimed at raising resources to acquire the two sole assets of the FII Pátria Prime Offices (HGPO11).

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RBR had previously disclosed through a statement by Pátria that the completion of the transaction would be contingent upon the implementation of certain conditions, including the offering of shares in a new fund to be structured and managed by RBR in the amount necessary to facilitate the transaction, estimated at R$ 618.3 million.

" The public share offering is indeed expected to take place. However, if the fundraising does not reach the expected amount, RBR may conduct additional fundraising, offers, or use other financial instruments to complete the transaction," confirmed the source, who spoke on condition of anonymity.

According to this same source, the purchase of the Platinum Offices properties, located on Jerônimo da Veiga Street, and the Metropolitan Office, on Amauri Street, is expected to be completed even if RBR has to leverage or conduct new public offerings of shares.

The source believes that RBR's strategy behind the acquisition is to include in its portfolio two assets that are very well located and resilient to market movements.

"There is a certain lack of this type of asset in the market. They have delivered good financial returns in recent years. The rents charged in the buildings are usually higher than those in the region, and they are also very well-maintained. Despite being classified as class B assets, they can be compared to 'corporate boutique' developments," he says.

The properties also provided excellent risk/return rates over the past ten years, leading RBR to make an offer equivalent to R$ 48.5 thousand per square meter, 14.4% higher than the valuation of the assets, with an estimated premium of 26.5% for the Metropolitan and 11.5% for the Platinum.

According to the relevant announcement disclosed by Pátria, during the 18 months following the deed of the Platinum building or until the vacant areas (the 10th and 11th floors totaling 436 m²) are fully leased, RBR commits to guaranteeing a minimum monthly income to shareholders of R$ 290.00/m², whichever comes first.

It is worth noting that Pátria Investimentos declined to comment when contacted by the report.

Shareholders of the FII Pátria Prime Offices (HGPO11) approved the sale of the portfolio to RBR last Tuesday (17). The manager has until October 31 of this year to complete the financing, with exclusive rights to the deal until then.

HGPO11 also announced that the payment could be made in installments: around R$ 340.3 million would be paid at the time of the public deed of sale, while the remaining R$ 278 million would be paid 18 months later.