Reuters – Brazil’s Gafisa Sees Offers for Alphaville Unit

Brazilian homebuilder Gafisa SA received four offers for its high-end Alphaville unit, including from Sam Zell’s Equity International, a local newspaper reported on Wednesday. Gafisa owns 80 percent of Alphaville, which could be worth about 1.8 billion reais ($891 million). The sale would help Gafisa reduce its debt, which is among the highest in Brazil’s construction sector.

(Reuters) – Brazilian homebuilder Gafisa SA received four offers for its high-end Alphaville unit, including from Sam Zell’s Equity International, a local newspaper reported on Wednesday.

Gafisa owns 80 percent of Alphaville, which could be worth about 1.8 billion reais ($891 million). The sale would help Gafisa reduce its debt, which is among the highest in Brazil’s construction sector.

For Zell, a deal could mark his return to an operation in which he invested from 2006 through 2011. Equity International led Gafisa’s initial public offering, but sold the last of his stake two years ago.

Other firms interested in Alphaville are asset management company Hemisfério Sul Investimentos, a group formed by Patria Investimentos and Blackstone, and private equity fund VBI Real Estate, according to Valor Economico.

Spokesmen for Gafisa and Equity International were not immediately available for comments.