Rio Bravo boosts rent 26% and keeps full occupancy in São Paulo

Belliz takes over the 11th floor after Arteri's exist, keeping vacancy at zero and ensuring five years of predictable income

SUBSCRIBER EXCLUSIVE

Anita Scal, Partner and Head of Real Estate Investments at Rio Bravo, who secured zero vacancy at the JK building

By: SiiLA News

04/30/2026

Rio Bravo (RCRB11) has signed a lease for 972.74 m² (BOMA) on the 11th floor of the JK Financial Center with Belliz, a company in the beauty and personal care segment. The five-year agreement is set to begin in Q3 2025, immediately following the departure of Arteris, from the logistics sector, ensuring full and immediate absorption of the gross leasable area.

The fund’s Head of Real Estate Investments, Anita Scal, noted that management negotiated to maintain the property’s current layout, with no additional capital expenditure required to adapt the space for the new tenant.

The transaction is expected to generate an incremental increase of approximately R$0.05 per share per month after the rent-free period.

Although the rental value was not disclosed, the fund confirmed a 26% increase compared to the previous tenant. According to SiiLA’s market analytics team, the transaction was closed at R$190/m² (BOMA). Termination clauses include a minimum 180-day notice period with proportional penalties in case of early exit, and rent adjustments will be indexed to inflation (IPCA) throughout the lease term.

JK Financial Center

The building has been Rio Bravo’s core asset since 2021, with 13,000 m² of private area, of which 9,500 m² belong to the fund, distributed across five floors. The property is currently fully leased to tenants such as Life Time Investimentos, AmBev, BNDES, and Wald e Associados Advogados.

Since acquisition, the asset has delivered consistent and predictable income, supported by high occupancy stability. Over the past five years, vacancy peaked at just 14%, underscoring the building’s quality and strong competitiveness in the corporate office market.

“The fund currently reports zero vacancy, with 100% of the portfolio leased. JK Financial Center is a high-quality asset, with strong and well-established tenants, forming a diversified and resilient occupier mix,” Anita added.

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