Weakness in the Brazilian real estate market attracts foreignAs companies like Blackstone, Exxpon and Top Capital are the active hunting “Beached”.
A lot of properties available in the Brazilian real estate market has attracted the interest of foreign investors seeking “bargains”. Accustomed to buy cheap in weak economy periods to profit when the recovery cycle reach, companies like Blackstone, Exxpon and Top Capital are the active hunting “Beached” – and require a minimum discount 30% to close business.
The largest real estate fund in the world, or American Blackstone, says he 15,8 billion available for acquisitions. In the last years, the company invested more than 1 billion dollars in the country – between assets, are some who belonged to BR Properties. According to global chief investment officer of Blackstone, Kenneth Caplan, the appetite of the group remains strong.
for Caplan, the troubled time is favorable. “Brazil is particularly stressed because of low economic performance and political uncertainty. These situations tend to create good opportunities.”
For the member of the audit and consulting firm Grant Thornton, Daniel Maranhão, investor interest, mainly foreign, It is considerable and tends to grow in the coming months. “I have been very sought. It has a lot of talk and some businesses are already underway. But I think that the coming months will be more important”, highlights. The executive points to the currency devaluation and deterioration of the internal market as the main reasons for the interest of international funds.
Among the investors who were recently with Daniel Maranhão is the Sino-American Tim Chen, da Top Capital, two years ago raised a fund of more than 1 billion dollars joints in wealth management in the United States, China and Arab countries, among others. “We seek high-end luxury hotel in the main squares of the country and budget hotels in secondary and tertiary cities”, Chen account, that targets enterprises with discount rates of at least 30%.
Already resource management Exxpon, specializing in high-risk investments, It is behind discounts on home 60%. “The greatest opportunities today are in the residential segment, with the high number of dissolutions (returns)”, says American Jonathan Franklin. The dissolutions in construction totaled 41% from January to September 2015, according to credit rating agency Fitch.
The Exxpon invests capital of three American groups, among them the Lamb Partners, Family management of billionaire Neil Bluhm. We last months, the company has disbursed 120 million reais in real estate assets, especially residential.