Zolver, a newly launched real estate developer specializing in logistics and industrial assets, has announced its inaugural project: a R$1 billion (~USD 190 million) investment in Franco da Rocha, São Paulo. The development will be a state-of-the-art, build-to-suit logistics complex featuring about 230,000 square meters of gross leasable area (GLA), designed specifically for Mercado Livre — Latin America’s leading e-commerce company. The lease is set for a 12-year term.

The deal was officially disclosed this Friday (May 30) in a material fact published by BTG Pactual, confirming that the transaction is being carried out through the BTG Pactual Log AAA Cajamar FII (BTLA11) real estate fund. In the statement, the fund announced the acquisition of a 741,696.16-square-meter land located at kilometer 38 of the Rodovia dos Bandeirantes, near the border of Cajamar (SP). Earthworks are already underway at the site, where two logistics warehouses will be built.

The total value of the transaction — which includes the land and grading services — is R$332.5 million (approximately USD 63 million). The project will be delivered in three phases: the first, with roughly 70,000 square meters of built area, is scheduled for completion in Q1 2026; the second, adding 55,000 square meters, is expected in Q2 2026; and the final phase, with 103,000 square meters, is slated for Q1 2027. The investment amount related to construction has not been disclosed.

“We are excited to partner with BTG Pactual on this landmark development, which enables us to deliver a best-in-class product to a client of Mercado Livre’s caliber. The logistics real estate sector is one of the most dynamic and promising in today’s market, fueled by the rapid expansion of e-commerce and increasing demand for highly efficient, strategically located facilities,” said Luiz Felippe Delmazo, CEO and founder of Zolver.

Zolver enters the market with bold ambitions, aiming to develop 400,000 square meters of logistics GLA annually. The leadership team brings deep industry experience — Delmazo previously served as Director of Development and New Business at WTorre for four years and held executive roles at OR Empreendimentos Imobiliários for over a decade.