Retrofit of abandoned buildings attracts billionaire investment funds

Cities like Rio, Salvador and São Paulo, which have been approving large projects to revitalize their historic downtown regions, are starting to be targeted by entrepreneurs like Jive

06/10/2022

The profitable retrofit market is one of Jive Investments' gambles for the coming years. With an eye on the housing deficit of 5.8 million homes, according to a survey by Fundação João Pinheiro, the company sees retrofit as one of the solutions to the eternal housing crisis in Brazil. Currently, Jive has more than 1,000 properties in its portfolio. Cities like Rio, Salvador, and São Paulo, which have been approving large projects to revitalize their historic downtown regions, are starting to be targeted by entrepreneurs like Jive.

Jive, for example, works with stressed assets, focusing on origination, acquisition, and recovery of credits, real estate, and other illiquid assets, and acquired five abandoned or underused buildings in Rio de Janeiro, São Paulo, Salvador, New York, in the Queens region. These funds target buildings with large debts or that need to be sold quickly by their owners. The information is from The World News Brazil website.

Read the full story (in Portuguese).

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