Brazilian real estate funds advance major asset sales

Brazilian real estate investment funds are advancing significant asset transactions. Holders of 100% of the CRIs for HOFC11 have approved a structure to sell the Edifício Morumbi in São Paulo to TRX Real Estate FII (TRXF11). The deal includes a partial extraordinary amortization of 40% of the CRI balance within five business days of closing, which is expected by September 30. The transaction also involves a change in guarantees, replacing the property's bare ownership with a fiduciary assignment of 576,800 quotas of the Citadel I fund.

Separately, the AIEC11 fund has received proposals totaling R$ 367.4 million for two portfolio assets. HGRU11 (Patria Renda Urbana) has proposed R$ 79.4 million for the Standard Building in Rio de Janeiro, with payment potentially involving new quota issuances if cash reserves are insufficient. Additionally, HGRE11 (Patria Escritórios) has proposed R$ 288 million for Tower D of the Rochaverá Corporate Towers in São Paulo. This payment would be split into two stages: 70% at closing and the remaining 30% after 180 days, with the possibility of using new quotas for up to 40% of the first installment.