Tenant Announces Exit from Autonomy Fund's Office Property in Rio de Janeiro, Brazil

On Tuesday (10), Autonomy Investimentos announced via a statement that Ibmec has terminated its lease for the Standard Building in Rio de Janeiro. The property, a single-tenant asset, is part of the FII Autonomy Corporate Buildings Fund (AIEC11).  

According to the document, the termination was initiated by Ibmec, which is required to observe a 12-month notice period. The deadline for vacating the property is December 29, 2025, though the original lease was scheduled to extend until 2032. 

Ibmec currently occupies 100% of the 7,900 square meters of the building, located in downtown Rio de Janeiro. Classified as a Class B property, the historic building was constructed in 1932 and underwent a retrofit in 2007. The building was designated as a protected landmark in 2003 due to its historical significance. 

Designed by British architect Robert Prentice, the building features a marble-and-bronze façade and was originally developed for Esso (Standard Oil Company), according to the city of Rio de Janeiro. 

In a statement, Ibmec commented that there will be no operational changes in 2025 and emphasized its commitment to keeping the academic community informed. 

“The institution continuously works to improve its campus infrastructure, including maintenance, expansion projects, and modernization initiatives. We also monitor the market for opportunities that could enhance our facilities or provide favorable conditions for our students. Due to contractual obligations and confidentiality, we cannot share further details at this time. It is important to note that no effective changes will occur in 2025. The institution is committed to keeping its academic community informed as needed. Our primary focus remains academic quality and delivering an increasingly comprehensive educational experience for our students.” 

Autonomy, led by Roberto Miranda de Lima, stated that its sole communication on the matter would be through the material fact notice released on Tuesday.