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GTIS Partners sells Brazilian property for $172m

GTIS Partners has sold a majority of Infinity Tower, a Brazilian property.

GTIS Partners has sold a majority of Infinity Tower, a Brazilian property. The price of the sale was $172 million.

PRESS RELEASE

SÃO PAULO and NEW YORK, May 20, 2022 /PRNewswire/ — GTIS Partners, a global real estate investment firm that manages over $4.3 billion in gross assets with a focus on residential and industrial investments, today announced the sale of 62% of the Triple-A Corporate Building, Infinity Tower. The property, valued at $277 million, is the largest single asset property sale in Brazil’s history.

With a strategic location in the Faria Lima region in São Paulo, 233,500 square feet of the 376,700 square foot property was sold by GTIS Partners for $172 million.

“We are pleased to have completed this transaction, which reaffirms that high quality real estate in Brazil remains attractive to investors. Despite several economic cycles and the current debate about the need for office space, Infinity Tower has remained fully leased for almost a decade to some of the largest multinational corporations,” said Tom Shapiro, President and Chief Investment Officer at GTIS Partners.

Infinity Tower began its operations in 2012 and GTIS Partners has managed all stages of the project development process, including construction, leasing, and asset management. The development is a landmark among AAA buildings with its architectural design, advanced technological resources and high constructive standards.

The acquisition was carried out by the companies Lucio, Omar Maksoud and AMY, which have participated in the venture since 2007 and now own 100% of the asset.

CBRE acted as advisor in development, leasing, and property management and was exclusively responsible for the building’s sales process. Itau BBA acted as financer and exclusive financial advisor for the acquisition.

About GTIS Partners
GTIS Partners is a leading real estate investment and development firm headquartered in New York with offices in São Paulo, San Francisco, Los Angeles, Atlanta, Paris and Munich. The firm was founded in 2005 by Tom Shapiro and is managed by President Tom Shapiro and Partners Thomas Feldstein, João Teixeira and Rob Vahradian. The firm manages $4.3 billion in gross assets as of Q3 2021 and is active across a wide range of real estate sectors including single family and multifamily housing, office, industrial/logistics and hospitality as well as renewable energy infrastructure and opportunity zone investments. The firm invests at various points in the capital structure including credit, common equity and structured equity. In the US, GTIS has invested in over 130 assets across 40 unique markets including growth areas such as Phoenix, Dallas, Houston, Denver, Atlanta, Tampa and Charlotte. In Brazil, GTIS is among the largest real estate private equity firms with holdings including office, residential, logistics, hospitality and renewable energy investments. Marquee assets in São Paulo include the Infinity office building and Palácio Tangará, a five-star resort style hotel. GTIS also manages in Brazil the listed Real Estate Investment Fund – FII (GTLG-11), launched in 2021.