BR Properties sells office towers to Brookfield

BR Properties sells office towers to Brookfield

Corporate & Sovereign Strategy Equity M&A Brazil Capital Markets Asset Management

Brazilian developer BR Properties said it sold 12 office towers to Canadian asset management company Brookfield for BRL5.92 billion ($1.21 billion) in a deal that involved 80% of its real estate portfolio. BR Properties will receive 70% of the money on the closing date of each property and the rest within 12 months, it said in a securities filing. Brookfield said in a separate statement that the amount will be adjusted by the IPCA consumer price index from closing until the end of the year and b

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