Lefosse advises on purchase of São Paulo office tower
Brazil’s Lefosse Advogados has advised a local real estate fund on its acquisition of the Diamond Tower office building in São Paulo
The law firm acted for Fundo de Investimento Imobilário on its purchase of Diamond Tower, a 72-unit office building and part of the Morumbi Corporate Building complex, located on Av. Doutor Chucri Zaidan, in Berrini.
The value of the transaction is 810 million reais ($145.6 million).
The property was purchased through the FII BTG Pactual Corporate Office Fund from Multiplan Greenfield IV Empreendimento Imobiliário Ltda, part of the Multiplan Group.
The building is currently partially leased to a number of companies by means of a public deed executed in July 2020.
The deal was funded by a mix of equity and debt.
Lefosse Advogados acted as deal counsel in the seventh issuance of quotas by Fundo de Investimento Imobiliário – FII BTG Pactual Corporate Office Fund, for a public offering. The totality of the proceeds from the issuance will be allocated to the acquisition of Diamond Tower.
The deal includes a minimum guaranteed monthly income from the seller of 4.9 million reais ($881,000) for a 24-month period subsequent to the execution of the deal, totalling up to 22 million reais ($3.9 million) over the two-year period.
Diamond Tower is one of the two office towers of the Morumbi Corporate Building complex, which was developed and is currently managed by the Multiplan Group. It also part of the MorumbiShopping mall, which includes more than 480 retail stores and the only Apple Store in São Paulo.
The other tower in the complex, Golden Tower, remains wholly owned by the Multiplan Group.
Lefosse’s team was led by real estate partner Andrea Caliento (pictured), with senior associate Marcela Brasileiro, associates Lorenzo Vecchi and Marianna Moura, and assistant Victoria Koury, and also includec corporate partner Mauricio Paschoal and senior associate Luiza Rozario, capital markets partners Ricardo Prado and Bruno Massis, associates Vinicius Gagliardi and Isabela Magalhães, and assistant Rafaella Marçal.
From the firm’s competition and regulation practice, partners Zeca Berardo and Juliana Daniel, and associate Marcela Pirola and junior associate Pedro Cini also participated, along with senior associate Mariana Niquel and associate Nina Meloni from Lefosse’s environmental law practice.
