XP acquires 40% of Faria Lima Plaza for R$ 30,000 per m²

For comparison, VBI has just sold FL 4440 - in the southern section of Faria Lima - for R$32,000 per m².

XP acquires 40% of Faria Lima Plaza

By: SiiLA News

09/04/2020

A real estate fund managed by XP is acquiring 40% of HSI's Faria Lima Plaza, in a transaction that estimates the iconic building under construction at Largo da Batata at R$1.2 billion.

Managers who looked at the asset told the Brazil Journal that XP is paying just under R$30,000 per m² for the high-end development - which has 20 floors and 40,000 m² of gross leasable area. For comparison, VBI has just sold FL 4440 - in the southern section of Faria Lima - for R$32,000 per meter.

For comparison purposes, VBI has just sold FL 4440 - in the southern section of Faria Lima - for R$32,000 per m².

The transaction sets a new milestone in the Faria Lima region at a time of skepticism regarding the demand for office spaces in the post-COVID world.

Read the full story (in Portuguese).

Source: Brazil Journal

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