Duarte Garcia advises Zagros on GGRC11 offering

Duarte Garcia, Serra Netto e Terra acted as legal counsel on the eleventh issuance and public distribution of quotas of the Zagros Renda Imobiliária Fundo de Investimento Imobiliário (GGRC11), assisting the fund from the drafting of offering documents through the completion of registration procedures with regulators.

The fund is administered by Vórtx Distribuidora de Títulos e Valores Imobiliários and managed by Zagros Capital Gestão de Recursos.

The offering initially targeted 89,126,560 quotas of the GGRC11 fund, corresponding to BRL1,000,000,003.20, excluding the unit distribution cost. Demand ultimately outstripped that target, and following the placement of an additional lot the offering closed with the issuance of 131,901,519 quotas, corresponding to BRL1,479,935,043.18, excluding the unit distribution cost.

Duarte Garcia team was led by Helena Mendonça de Toledo Arruda Caldas, partner, together with associates João Pedro Bertanha de Nadai and Vitórya Berthoud Marques.