MRV&Co sells US assets for $170 million, slashing debt by $290 million

Brazilian builder MRV&Co announced the sale of its last Resia legacy project, the Memorial development in Atlanta, together with five additional land parcels in the United States. The transactions total $170 million, with the Memorial sold before stabilization and the land sold below book value, generating a $61 million impairment in the second quarter.

The proceeds will reduce MRV&Co’s debt by $141 million (R$ 719 million) and, combined with earlier disposals, bring total net‑debt reduction to $290 million (about R$ 1.5 billion). The company said the sales support its cash‑generation and accelerated deleveraging strategy amid a challenging U.S. multifamily market marked by high interest rates and lower occupancy.