By IvyLee Rosario
H.I.G. Capital acquired the Urbanity Corporate Center in São Paulo, Brazil. The property is a Class A office building located in the city’s South Region. Offering nearly 315,000 square feet of space, the asset is part of a newly developed mixed-use complex.
“It reflects our belief that the real estate sector in Brazil is set for a meaningful recovery,” said Fernando Marques Oliveira, head of H.I.G. Brazil and Latin America, in prepared remarks. “As such, H.I.G. is looking forward to committing a significant amount of capital to the sector, building on H.I.G.’s extensive local presence and relationships.”
“We believe this is an excellent time to acquire office buildings in São Paulo, given the expected recovery in the market and the low volume of new supply in the next few years,” added Daniel Nader, head of H.I.G. Realty in Brazil, in prepared remarks. “The South Marginal Region in particular, where Urbanity is located, is benefiting substantially from the recent improvements in the infrastructure of the city. Urbanity will benefit from the access and public transportation improvements in the region. The building is the closest office tower to the bridge Edson Bueno Godoy and near the tunnel access.”
Image courtesy of H.I.G. Capital