SiiLA Academy Advanced Concludes Its Class Cycle at an Exclusive Event in RBR's New Development, JHA Corporate Boutique; See How It Went

The first to take the stage was Marcelo Motta, analyst at JP Morgan, who brought to the discussion a series of analyses ranging from the performance of Real Estate Investment Trusts (REITs) to the foreign perception of Brazil. Motta highlighted that due to economic uncertainties, the Brazilian scenario appears unattractive to foreign investors.

The executive commented that Brazil was the first country to raise interest rates, and there was an expectation that it would also be one of the first to reduce them. This caught the attention of investors who, when considering an Emerging Market in Latin America, thought of Brazil. "The idea was that with the fall in interest rates, stocks should rise, but that's not what we are observing." With these expectations broken, foreign investors think: "I don't need to invest in Brazil, I can opt for India, Mexico, etc." "Things in Brazil are not very clear," he summarized. 

When asked about foreign investors' interest in Brazil, Motta was straightforward: "The plain truth is that today, there isn't any."

And what return do foreign investors expect from Brazil? Marcelo answered this question during the roundtable, explaining: "They expect a return in dollars. And in dollars, they look for double digits, 10%, 11%." The instability of the dollar-real exchange rate is another major challenge for foreign investors. "There are cases of funds that got the project right, made a good investment, and had a good return. But when it came time to send the investment back to the headquarters, the exchange rate devalued the gain. In the end, it was 10% return over five years," reports the JP Morgan analyst. 

Nicastro's presentation was based on market data, providing an overview of the office and logistics segments. Additionally, the executive explained a bit about SiiLA's new Market Rent metric. 

"Exclusively, I am presenting to you the new metric, which is already live and will make analyses even fairer. Previously, we had the Asking Rent; now, with Market Rent, we can understand the real value of the property, as the owner may want prices that do not match the reality of the property or the region," Nicastro explains.

After Motta's presentation, Caio Castro spoke about JHA Corporate Boutique, which is about to be delivered, and also commented on new boutique developments. 

"A boutique asset is a development with all the characteristics of an A+, a good ceiling height, sustainability certification, and others, but all in a smaller area," Castro explains. 

The executive also mentioned that today, sustainability certification has become a requirement for many companies when selecting a building for occupancy. 

The JHA Corporate Boutique, developed by RBR Asset Management, is the company's newest development. It focuses on a diverse, cosmopolitan, and modern lifestyle. The project is based on sophistication, exclusivity, and sustainability. 

Located in the heart of Itaim Bibi, between Brigadeiro Faria Lima, Juscelino Kubitschek, Brasil, and Cidade Jardim Avenues, the building prioritizes a more human vision for workspaces. 

With over 5,900 m² of leasable area, including a storefront in the active facade, its design allows flexibility in unit layouts, adapting to various business needs. 

With six glass floors from floor to ceiling, the building maximizes natural light. Each floor has a ceiling height of 2.80 meters, prepared to receive modular fireproof acoustic ceiling tiles and raised flooring of 15 centimeters. The building also features a multi-use rooftop, ideal for office expansion or contemplative use.

All property information is available on the JHA (Iaia) page on SiiLA SPOT.