TozziniFreire assists Gaia and MagikJC in the first ESG CRI in Brazil
TozziniFreire assisted Gaia Impacto Securitizadora S.A. and Magik JC Empreendimentos Imobiliários e Construções Ltda in BRL5 million ESG CRI
The offering involved the issuance of ESG Real Estate Receivables Certificates (ESG CRI) by Gaia, a securitization company, backed by a Real Estate Credit Note (CCI) representing a Bank Credit Note issued by MagikJC in favor of Companhia Hipotecária Piratini – CHP in the amount of BRL5,011,350.00.
The main purpose of this ESG CRI is to finance low-income housing projects in urban centers intended to be acquired in the Minha Casa Minha Vida and Casa Verde Amarela formats, allowing low-income people to live with dignity, close to job opportunities, quality basic services, and free leisure.
In addition, CRI’s social impact is related to the donation of meals to homeless people around the projects during the 2 years of construction; and offering a training program in social-emotional skills to teachers and students from public schools around the housing projects, following the choice of the region’s residents.
Acting for TozziniFreire on the board for Gaia and MagikJC were partner Alexei Bonamin (pictured) and associates Leonardo Braghetto, Gabriel Gragnani and Daiane Nunes.
