Last updated: 07:20 / Monday, 29 December 2014
For R$700 million

Pátria and Blackstone Acquire Four Office Buildings in Rio de Janeiro

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Pátria and Blackstone Acquire Four Office Buildings in Rio de Janeiro
  • This is the second investment Blackstone Real Estate Partners has made in Brazil in partnership with Pátria. In late 2013, the companies acquired 70% of Alphaville Urbanismo
  • Two of the buildings, Visconde de Inhaúma Corporate and Sao Bento Corporate, are located in downtown Rio de Janeiro, and the other two, Americas Corporate (Towers 3 and 4) and Peninsula Corporate, in the district of Barra da Tijuca

Pátria Investimentos and Blackstone have announced that Blackstone Real Estate Partners VII and Pátria Brazil Real Estate Fund III acquired four office buildings in Rio de Janeiro from Opportunity’s Real Estate Fund for R$700 million. Pátria and Blackstone will own the portfolio in a 50/50 joint venture.

“Well-located and recently-constructed, these buildings have attracted a wide range of major institutional tenants. Given the current dislocation in the market, we believe this is an opportune time to be investing alongside Blackstone in these high-quality and promising assets,” said Helmut Fladt, Real Estate Director for Pátria Investimentos.

This is the second investment Blackstone Real Estate Partners has made in Brazil in partnership with Pátria. In late 2013, the companies acquired 70% of Alphaville Urbanismo, the leading developer of gated residential communities in Brazil.

“We are pleased to make this new investment with our partners at Pátria. It is an important market for us and we will continue to explore additional investment opportunities throughout Brazil,” said David Roth, a Managing Director in Blackstone’s Real Estate group.

Two of the buildings, Visconde de Inhaúma Corporate and Sao Bento Corporate, are located in downtown Rio de Janeiro, and the other two buildings, Americas Corporate (Towers 3 and 4) and Peninsula Corporate, are located in the district of Barra da Tijuca.

For your information...

Pátria Investmentos is one of the leading alternative assets managers and financial consulting companies in Brazil. Founded in 1988, it is a pioneer in the private equity industry having gradually expanded its portfolio with the development of new business in Infrastructure, Real Estate and Hedge Funds in response to the needs of their investors and clients, and the opportunities presented by the country's dynamic economic expansion. Currently, it has over R$15 billion assets under management. It is a local partner for Blackstone, global leader in alternative investment management and corporate consulting.

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