In March of 2019, Brookfield concluded the acquisition of three office buildings in São Paulo and two in Rio de Janeiro, which together have 100,000 sqm of leasable area, for BRL 1.3 billion. Among the acquired projects are the BFC Building on Avenida Paulista and Eldorado on Marginal Pinheiros, both in the city of São Paulo; and the Almirante Tower, in the city of Rio de Janeiro. On the other hand, the seller fully acquired Brookfield's interest in two projects and 20% of the Senado building, Petrobras' head office in Rio de Janeiro, for BRL 670 million.
Real Estate portfolio
|BUILDING||LEASABLE AREA (SQM)*|
|Faria Lima 3500||25,686|
|JK Torre D||12,207|
|JK Torre E||22,946|
|EZ Tower B||47,002|
|Rio de Janeiro|
*Area corresponding to Brookfield share. The table includes assets acquired from the BC Fund, an operation completed in early 2019.
numbers / highlights
in assets under management
sqm of leasable area
high-end corporate buildings
* The new buildings acquired from the BC Fund were not included in the assets under management, once the operation was completed in 2019, but were accounted for in the total area under management, considering that they are already under the management of Brookfield.
2018 was also a year of significant leasing accomplishments for Brookfield. In São Paulo, it achieved 100% occupancy in Tower B of WT Morumbi, matching other developments in the portfolio including Faria Lima 3500 and two towers in the JK Iguatemi Complex in São Paulo, as well as the L’Oréal and Edifício Senado buildings in Rio de Janeiro.
In 2018, Brookfield also signed a leasing contract for 22,000 sqm of Sigma Tower (17007 Nações Complex), located at a site adjacent to the Marginal Pinheiros in São Paulo.
At the end of 2018, the average occupancy rate for Brookfield’s real estate assets in Brazil was 81%.