TRX Real Estate launches R$ 5 billion share issuance to fund acquisitions

TRX Real Estate (TRXF11), the third-largest brick real estate fund listed on the Brazilian stock exchange, has approved its 13th share issuance. The offering aims to raise an initial R$ 5 billion, with the potential to reach R$ 10 billion if demand allows.

The funds are intended to finance new acquisitions and expand the fund's portfolio diversification. While previously heavily concentrated in food retail, the fund is shifting toward a broader range of assets, including logistics, shopping centers, hotels, educational properties, hospitals, and corporate buildings. Recent acquisitions include logistics warehouses occupied by Mercado Livre in Guarulhos, the Hotel Emiliano in Copacabana, and IBMEC Faria Lima.

Fund manager Gabriel Barbosa noted that diversification is a strategic response to previous concentration risks, where the fund relied heavily on a few tenants and a single sector. CEO Luiz Augusto do Amaral emphasized that the fund seeks to acquire assets that generate income and value through active management rather than growing at any cost.