10th place – EXCLUSIVE: Nubank leases a new building in Pinheiros after the remote-work backlash

In tenth place, Nubank’s recent lease in Pinheiros — reported exclusively by REsource — drew attention not only because of the asset itself, but also the context behind it. The company signed a contract to fully occupy the Capote 210 building, totaling 14.8 thousand sqm, at an estimated R$ 130/sqm at the time. The move came shortly after the company announced the end of remote work, a decision that sparked strong negative reactions and resulted in the dismissal of employees who opposed the new policy.

9th place – The end of “tax havens” for commercial real estate: tax reform removes regional incentives and changes Brazil’s logistics rationale

The government’s decisions around tax reform also deeply impacted market fundamentals. The introduction of VAT — with nationally standardized collection — and the elimination of regional incentives called long-standing strategies into question, especially in the logistics segment. The story included an interview with Raphael Caropreso, partner at Veirano Advogados.

8th place – EXCLUSIVE: Netflix chooses Pinheiros and signs a contract for a new São Paulo headquarters

Another major lease in Pinheiros. REsource revealed, exclusively, Netflix’s selection of the OPI-07 building for its new headquarters. The contract involves 8.2 thousand sqm under a single-tenant model, for around R$ 180/sqm.

7th place – XP chooses Chácara Santo Antônio for its new headquarters and aims to bring employees back in person; here’s why

The financial sector also led major moves. XP Investimentos chose the Luna building, in Chácara Santo Antônio, for its new headquarters, occupying 12.9 thousand sqm — named XP Luna — at an average price of R$ 85/sqm.

6th place – EXCLUSIVE: Pátria accused of maneuver to avoid paying brokerage fees in the sale of Berrini One by REIT HGRE11

The allegation that Pátria Investimentos and REIT HGRE11 may have adopted a maneuver to avoid paying brokerage fees on the sale of Berrini One assets gained major traction. The lawsuit, filed by PremiumCorp, involves claims of bad faith and abuse of rights, reigniting the governance debate in the sector.

5th place – CBRE and Athie Wohnrath represent both sides in Netflix HQ deal, raising red flags across the industry

As a development of Netflix’s lease, REsource revealed that CBRE represented both sides in the BID process. Reporting showed that the final price reached R$ 209/sqm — above the Pinheiros market average, estimated at R$ 141.75/sqm — raising concerns about conflicts of interest and transparency.

4th place – EXCLUSIVE: Departure of two Pátria executives leads the manager to recalibrate its internal restructuring strategy

After merging with VBI and Credit Suisse, Pátria expanded its real estate footprint. However, the departure of two key executives — Augusto Martins and Bruno Margato, both from Credit Suisse’s team — led the firm to re-evaluate its strategy and implement internal adjustments in the area.

3rd place – EXCLUSIVE: Amazon signs a pre-lease at Biosquare nearly a year before delivery

On the podium, Amazon’s pre-lease at Biosquare, in Pinheiros, stood out for its timing. According to SiiLA’s research team, the deal involves the entire BOMA area of the development, totaling 39.2 thousand sqm, at R$ 170/sqm.

2nd place – Not just retail: Grupo Mateus crisis threatens the reputation of funds and logistics parks in Brazil’s Northeast

Just shy of the top spot, our second-most read story was the fallout from Grupo Mateus’ crisis after Brazil’s securities regulator (CVM) identified suspected accounting inconsistencies tied to a R$ 1.1 billion error in inventory calculations. The episode raised questions about reputational risks for REITs and logistics assets exposed to the retailer.

1st place – Sale of IBM’s São Paulo headquarters may take an unexpected turn with the arrival of a new interested player

Our champion — the most-read story of the year — was the sale of IBM’s São Paulo headquarters for R$ 240 million. The building, located near Avenida 23 de Maio, totals around 30 thousand sqm and may see new developments with the entry of a new player interested in acquiring the asset.