VBI Prime Properties sells a fraction of JK Complex's Tower B

The total value of the sale was R$ 237 million.

Complexo JK - B tower

By: SiiLA News

11/17/2022

This week, Fundo Imobiliário VBI Prime Properties (PVBI11) announced the sale of the ideal fraction of 20% of which it held in Torre B JK, located in Complexo JK, in the city of São Paulo.

The total value of the sale was R$ 237 million. According to the manager, the transaction was 24% above the property's current book value. In addition, a down payment of R$165.9 million (70% of the total amount) was paid.

In SiiLA's analysis, the estimated Cap Rate of the sale is 5.05%. We recently talked about Cap Rate and how this concept works within the real estate market here at SiiLA REsource, check it out here!

The Complexo JK – Bloco B building is located on Avenida Juscelino Kubitschek, in the south zone of the capital. Created by WTorre Empreendimentos, the building has a total private area of 26,669 m².

According to SiiLA Market Analytics, the building's occupants are Johnson & Johnson, Body Tech and Regus Brasil (from the IWG group).

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