FII is purchasing 21 properties leased to companies like GPA and Mateus; A deal worth 843 million Brazilian reals

FII Guardian Real Estate (GARE11), formerly known as Guardian Logística (GALG11), signed a commitment, on Monday (25), to purchase the entire portfolio of the Artemis Real Estate Fund, consisting of 21 properties. The value of the deal is 843 million Brazilian riyals.

According to a statement by the fund, the deal includes the acquisition of a logistics warehouse and 20 commercial assets (Urban Income) – representing a total leasable area (GLA) of 140,000 square metres.

“The urban real estate portfolio consists of 11 Grupo Pão de Açúcar stores and 9 Grupo Mateus stores,” the document notes. The text adds: “The largest share of these stores is in the state of São Paulo (33%).”

Also according to GARE11 management, the properties acquired have atypical contracts – with a longer duration – and an average duration of 19 years, as shown in the image below:

“This new real estate portfolio significantly expands our ability to accommodate asset sale opportunities while generating a profit for the fund and distributing it to shareholders,” says Gustavo Asdourian, co-founder of the fund. “We already have advanced proposals to sell three of these stores that will join GARE11 at profits of more than 20%,” he reveals.

Last month, the fund announced the sale of a logistics warehouse leased to BRF for R$280 million. The value represents a capital gain of R$71 million or R$0.43 per share.

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