Portfolio Acquisition Expands Cerberus’ Presence in the Brazilian Market
SÃO PAULO – February 17, 2020 – Cerberus Capital Management, L.P. and its affiliates (“Cerberus”), a global leader in alternative investing, today announced the acquisition of 12 office buildings in Brazil from BR Properties, the largest publicly traded office building owner in Brazil. The portfolio includes seven properties in São Paulo and five properties in Rio de Janeiro. The transaction, which was completed in December of last year, is valued at over $R600 million.
The office buildings are well-regarded assets with strong tenant diversity and located in two of Brazil’s most dynamic markets – São Paulo and Rio de Janeiro. Cerberus has partnered in this transaction with Alianza, a leading property asset management firm in Brazil, to oversee the day-to-day operations and leasing of the portfolio. This acquisition expands Cerberus’ presence in the Brazilian real estate market, which the Firm entered last year with a strategic investment in Brasil Brokers, one of the largest real estate brokerage groups in Brazil.
“We are excited to be an active player in the Brazilian market, which we believe is a natural expansion to our global platform,” stated Ron Rawald, Head of International Real Estate of Cerberus. “We look forward to leveraging our industry expertise, operating experience, and financial resources as a trusted partner and investor in the region. These interesting office buildings in São Paulo and Rio de Janeiro are great additions to our real estate portfolio and we look forward to capitalize on additional opportunities in Brazil.”
Since its inception in 1992, Cerberus’ real estate team has invested approximately $29 billion of equity in more than 575 transactions around the world, including non-performing loan portfolios secured by real estate. Cerberus invests in the debt and equity of commercial and residential properties and portfolios, as well as directly into real estate operating companies and servicing platforms.
Founded in 1992, Cerberus is a global leader in alternative investing with over $42 billion in assets across complementary credit, private equity, and real estate strategies. We invest across the capital structure where our integrated investment platforms and proprietary operating capabilities create an edge to improve performance and drive long-term value. Our tenured teams have experience working collaboratively across asset classes, sectors, and geographies to seek strong risk-adjusted returns for our investors. We have 785 team members in 21 offices located around the world, including in São Paulo. For more information about our people and platforms, visit us at www.cerberus.com.