TRX Real Estate fund launches Brazil's largest REIT offering, targeting up to R$10 bn

TRX Real Estate R$10 bn offering Cyrela deal BTG Pactual REIT

The TRX Real Estate fund (ticker TRXF11) announced its 13th issuance of new shares, the biggest in Brazil's real‑estate investment‑fund sector. The initial tranche of 53 million shares is priced at R$94.25, raising R$5 billion, and the offering can be expanded up to a total of R$10 billion. BTG Pactual is coordinating the placement, which is limited to professional investors who must commit at least R$10 million.

Founded in 2019, TRXF11 holds a net asset value of about R$6 billion across 115 commercial properties and serves roughly 331 thousand investors, with daily trading volume of around R$16 million. Recent acquisitions include three logistics warehouses in Guarulhos for R$1.4 billion and a medical complex that will house the Albert Einstein Hospital.

The fund also signed a non‑binding memorandum of understanding with developer Cyrela to acquire five properties valued at R$2.13‑2.14 billion. About half of the purchase price will be paid in cash and the other half in TRXF11 shares, with the total possibly rising by up to R$103 million if additional third‑party stakes are bought. The transaction foresees the creation of two new REITs managed by Cy.Capital, with TRXF11 acting as anchor investor, subject to audits, final contracts and regulatory approvals.

Entities

Albert Einstein Hospital · BTG Pactual · Cyrela · TRX Real Estate · TRXF11

Claims

What the coverage asserts, and how many sources carry each claim.

[● 2 SOURCES] TRXF11 was created in 2019, has a net asset value of about R$6 billion, owns 115 properties and serves roughly 331 thousand investors. dev.tnonline.com.br · tnonline.uol.com.br
[○ 1 SOURCE] The transaction will create two new REITs managed by Cy.Capital, with TRXF11 acting as anchor investor. valor.globo.com
[● 3 SOURCES] TRXF11 signed a non‑binding memorandum of understanding with Cyrela to acquire five properties valued at R$2.13‑2.14 billion. dev.tnonline.com.br · tnonline.uol.com.br · valor.globo.com
[● 2 SOURCES] TRX Real Estate announced a 13th issuance of new shares aiming to raise up to R$10 billion. dev.tnonline.com.br · tnonline.uol.com.br
[● 2 SOURCES] Recent acquisitions include three logistics warehouses in Guarulhos for R$1.4 billion and a medical complex that will house the Albert Einstein Hospital. dev.tnonline.com.br · tnonline.uol.com.br
[● 2 SOURCES] The offering is coordinated by BTG Pactual and limited to professional investors with a minimum commitment of R$10 million. dev.tnonline.com.br · tnonline.uol.com.br
[○ 1 SOURCE] The memorandum is non‑binding and the acquisition depends on audits, final contracts, regulatory approvals and other customary conditions. valor.globo.com