PMK advises Zagros on the acquisition of Bluecap’s warehouses

PMK advised Zagros Renda Imobiliária Fundo de Investimento Imobiliário as buyer on the acquisition of two logistical warehouses from Bluecap Log Fundo de Investimento Imobiliário and Bluecap Log SPE for a total consideration of BRL 165 million. The transaction covered one warehouse located in Garuva, Santa Catarina, with a total area of 22,789.59 m², and a second property in Camaçari, Bahia, spanning 27,565.62 m².

The deal featured a sophisticated payment structure in which the full purchase price was settled through the offsetting of credits arising from the subscription and capitalization by the sellers of new quotas issued by GGRC11, rather than through a conventional cash transfer. Closing also required the successful release of existing liens and guarantees encumbering both the real estate properties and their corresponding lease receivables.

PMK’s mandate covered the full buy-side transaction lifecycle, including coordination of legal due diligence on both assets and the drafting and negotiation of the definitive purchase and sale agreements. The firm was led by partner Patricia Godoy Monteiro, alongside Diogo Ramos Ferreira and Iara Almeida Esteves.

Eick Haber Binari Pacheco Advogados advised HCO Group.