A Reuters report in conjunction Jones Lang LaSalle as highlighted how real estate investment in Brazil is now one of the most desirable regions in the world for investors. The report shows that in one week Brazil has attracted global investment including companies in New York, Europe and Canada.
New York-based Real estate Company GoldenTree InSite raised $500 million to invest in booming Brazilian property market. Golden Tree sold out a 104-unit residential project directed at middle-income families in Sao Paulo’s Vila Carrao area in four hours.
Portuguese hotel group Porto Bay acquired the 80-room boutique hotel L’Hotel in Sao Paulo.
VALIA, one of Brazil’s largest pension funds, bought part of the Continental Tower under development, also in Sao Paulo, for 208 million reais.
BR Malls, the group formed by GP Investimentos and Equity International, bought a shopping centre for 188 million reais.
Brazilian real estate company Sao Carlos sold two warehouses in Rio de Janeiro and one in Pernambuco for 107 million reais.
Canada’s CPP Investment Board entered into a joint venture with Cyrela Commercial Properties S.A. Empreendimentos e Participacoes CCPR3.BR. The venture, which will also include the real estate investment arm of the government of Singapore, will focus on the development, acquisition and management of institutional-quality commercial property. CPP’s investment consists initially of a $150 million commitment with the option to increase to $250 million.
Nicholas Marr CEO of international real estate property Homesgofast.com “Brazilian real estate has been top of the list for overseas property investors for the last few years. The Olympic effect has meant that Brazil’s investment is accelerating with investors afraid they may miss the investment gravy train”
Estimates of the investment in infrastructure required to prepare for 2014 range from £10 billion to £30 billion. This will include: £1.5 billion on constructing and modernising 12 stadiums; £1.4 billion on expanding and modernising airports across the country; and up to £10 billion on improving and expanding urban transport systems in the 12 host cities.
Brazilian resources
