SiiLA PODCAST Debuts with Spotlight on Multifamily Fund Targeting Brazil’s Middle Class

Executives outline strategy to serve an underserved segment with well-located properties and a globally inspired operation

Rodolfo Senra, founding partner at Brio Investimentos; Abelardo Sá, Infrastructure and Energy Director at Fictor; and Kim Azevedo, Investment Director at Greystar

By: SiiLA News

06/10/2025

This Tuesday (10), SiiLA launched the first episode of the SiiLA PODCAST, bringing top-tier content on Brazil’s real estate market. In the debut episode, Giancarlo Nicastro, SiiLA’s CEO and host of the show, welcomes Abelardo Sá, Infrastructure and Energy Director at Fictor; Kim Azevedo, Investment Director at Greystar; and Rodolfo Senra, founding partner at Brio Investimentos, to discuss the outlook for multifamily housing in Brazil and the new real estate investment fund (FII) the three firms are developing together.

Each company will play a specific role in the operation. According to Abelardo Sá, the structuring process of the REIT involved a detailed analysis of international markets, such as Chile.
“You can catch the wave while the product is still relatively unknown to the market. We observed this in Chile, tracking the yield on cost curve and how it compresses over time. So, we want to ride that first wave, and our thesis is to build a solid fund,” Sá explained.

Rodolfo Senra emphasized that the new fund will focus on serving the middle class — or, as he put it, “the core of society.”
“Our thesis stems from the perception that in Brazil’s social pyramid, the top is well-served, and the bottom is covered by programs like Minha Casa Minha Vida. But the middle class is neglected. This group has seen its purchasing power eroded by inflation, faces high interest rates — which drive up financing costs — and watches as the price per square meter climbs rapidly. Multifamily housing emerges as a solution to this scenario,” Senra said.

Podcast studio

Asset selection will be supported by Greystar, a company with global expertise in the sector.

“We’re working together to identify well-located properties near public transportation and subway lines. It’s not about being in the most expensive neighborhoods — what matters is that residents can reach central areas within 20, 30, or 40 minutes. That allows us to offer amenities like parking spaces to people who wouldn’t typically be able to afford property in those locations,” said Kim Azevedo, from Greystar.

In addition to discussing business models and market opportunities, the episode covered a wide range of topics. The full episode is now available on Spotify, YouTube, or by clicking below:

Oficial video

About SiiLA PODCAST

SiiLA PODCAST is the latest content initiative from SiiLA, created to broaden the conversation on the most relevant topics in Brazil’s real estate market. Released biweekly, the show brings together executives, investors, and industry experts to discuss data, strategies, and trends shaping the country’s real estate landscape.

Hosted by Giancarlo Nicastro, SiiLA’s CEO, the podcast aims to deliver expert analysis by connecting the perspectives of industry leaders with the insights of a platform deeply engaged in market intelligence. Each episode explores themes ranging from real estate funds, logistics, and offices to multifamily housing, shopping centers, and urban revitalization.

The debut season features 12 episodes and high-profile guests such as Rodrigo Abbud (Pátria), Marino Mário (Retha), Ricardo Figueiredo (Finclass), Cláudio Hermolin (SINDUSCON-Rio), among other leaders transforming the sector.

New episodes every other Tuesday.

Available on all major audio platforms and in video format.

The first season of the SiiLA PODCAST is supported by Lity:

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Valid through: 12/31/2025

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ABOUT SiiLA

Founded in 2015, SiiLA is the industry leading REsource for comprehensive commercial real estate market insights, news and events across Latin America. The SiiLA suite of innovative products drive greater accuracy, efficiency, and strategic advantages for top players in the commercial real estate industry.