São Carlos' Asset Sales Reach R$ 528.4 Million Year-to-Date

São Carlos Empreendimentos has unveiled its Q3 2023 results, confirming robust asset sales negotiations at R$ 21.6 million in the last quarter alone and a notable R$  528.4 million for the year.

In September, the company made waves by announcing the signing of a sales commitment, disposing of significant properties such as Centro Empresarial Botafogo, Morumbi Office Tower, Corporate Plaza, and Alameda Santos, totaling an expansive 58,875 m² of Gross Leasable Area (ABL) for a substantial R$ 865 million. The execution is slated for Q4 2023.

Felipe Góes, São Carlos' CEO, emphasized, "The sale of these consolidated assets underscores São Carlos' prowess in executing a complete value addition cycle, delivering substantial returns for our shareholders."

The recent statement from the company also shed light on new leases, totaling 8,600 m² for the quarter. The gross rental revenue for 3Q23 reached R$ 64.3 million, contributing to a yearly total of R$ 200.3 million. Góes further highlighted, "Our ongoing priorities include proactively addressing vacancy concerns, strategically recycling assets, and reducing financial leverage."