GoldenTree InSite Partners, a New York-based real estate investment firm, recently announced that it was planning to invest US $222 million in a joint venture in Brazilian real estate. The firm will partner with Sao Paulo, Brazil-based LDI – Inteligencia Urbana Completa, to develop residential and office property for sale.
The venture is GoldenTree InSite’s largest investment in Brazil over the last two years, during which time it has committed over $300 million for development in the South American country. LDI is a major force in Brazilian real estate, developing office, retail and residential projects. LDI’s Lindenberg brand is one of Sao Paulao’s most recognized upscale residential development names. The residential market is particularly in need of new development, as there is currently a significant housing shortage in the country and Sao Paulo.
Josh Pristaw, managing director with GoldenTree Insite, noted that “We’ve been pretty bullish on Brazil for a while; we made our first commitment there in 2005.” He continued, “Historically, there’s been a lack of access to capital for developers in Brazil. There’s not a lot of capital in the market so it’s attractive for private equity investors.”
GoldenTree InSite pursues value-added real estate opportunities involving residential, retail, industrial, hotel and mixed-use properties in the U.S. and Brazil. The company manages over $1.1 billion in committed equity. LDI is a full-service real estate developer focused on development, land parceling, shopping centers and construction through various subsidiaries. LDI has completed over 450 residential and commercial projects.
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