May 24, 2022

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Ifix closes 0.12% lower;  CARE11 is rising again

Ifix closes 0.12% lower; CARE11 is rising again

The IFIX – The index that collects the most traded real estate funds on the stock exchange – closed the session this Tuesday (3), down 0.12%, at 2794 points. In the previous session, the index closed sharply down 0.53%.. Brazilian Cemetery Trust and Death Care (11 . care) again was the highlight of the session, with an increase of 5.93%. In two trading sessions, the FII is up over 16%. Check out the rest of today’s highlights around FIIs . Center.

The Central Bank (BC) Monetary Policy Committee (Copom) meets again this Tuesday (3) to set the new base rate for the national economy, Selic, currently at 11.75% per annum. The new level of the index will be released tomorrow, but the market has already raised its bets on “fiat” money, which could benefit from another rate hike.

Receivables funds, known as “paper” FIIs, invest in fixed income securities indexed to inflation indices and to the CDI (certificate of deposit between banks), which tracks the Selic rate. The rise in interest rates and prices in recent years has helped increase the value of this class of real estate funds.

In 12 months, “paper” FIIs have accumulated a high of 4.8%, according to the Teva Index of Paper Real Estate Funds. In the same period, “brick” funds decreased by 5%. In the past two years, the performance gap has widened even more. While “paper” FIIs boasted a gain of 32%, “brick” FIIs had a slight increase of 0.8%.

With the expectation of a new increase in Selic – the market is betting on a new rise of 1 percentage point – to contain resistance to inflationary pressures, the market consolidated its position in the “paper” funds.

“Real estate receivables have been more successful in this period of greater uncertainty regarding the level of inflation still under pressure, and therefore with higher interest rates as a form of control,” notes the BTG Pactual Recommended Portfolio. “Thus, we continue to prioritize receivable funds in our recommendations,” the report reinforces.

Given the scenario, the theoretical portfolio of BTG Pactual increased the share of the BTG Pactual Crédito Imobiliário Fund ( BTCR11).

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“It is one of the latest ‘paper’ Islamic financial institutions operating at an attractive annual rate of return of 15.6% and in line with its book value, the bank highlights.

Along the same lines, Genial Investimentos has begun to recommend the purchase of CSHG Recebíveis Imobiliários (HGCR11), which has a portfolio of Certificate of Real Estate Receivables (CRI) with securities indexed to CPI (49%) and CDI (50%).

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Tuesday’s Biggest Hike (3)

ribbon Noun section Variance (%)
11 . care Brazilian Cemetery and Death Care Aharon 5.93
FCFL11 Campos Faria Lima Aharon 2.83
KISU11 kilim Nicknames and Val. House furniture 2.82
TORD11 EI Tordesillas Aharon 1.88
AIEC11 Autonomous buildings corporate panels 1.16

The biggest victims of this Tuesday (3):

ribbon Noun section Variance (%)
RVBI11 VBI Reits Nicknames and Val. House furniture -2.33
SPTW11 SB Downtown corporate panels -2.22
BLMG11 Bluemacaw Logistics logistics -2.1
RBRP11 RBR . properties Aharon -1.46
CPFF11 Major Rhett hybrid -1.4

Source: B3

Discover step by step Live on income with FIIs and get your first rent in the account in the next few weekswithout the need to own property, in a Free category.

Performances by Mogno Suno Logística and BRL Prop II; XP Industrial raises R$50 million in CRI . edition

Check the latest information released by real estate funds in the relevant facts:

Mahogany Sono Logistics (MGLG11) accepts an offer of 32 million Brazilian riyals

On Monday (2) Mogno Suno Logística approved the third equity issuance in the portfolio, which aims to raise up to R$32 million.

The unit value of the new shares is set at R$50.00 and the distribution fee will be R$0.41, with a total subscription price of R$50.41.

At the market close on Monday (2), shares of Mogno Suno Logística were trading at R$53.44, down 0.22%.

Shareholders who hold a position at the end of Wednesday (4) will have protective rights in the third issue of the fund, which can be exercised between May 9 and 19, 2022.

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The fund is currently worth R$96 million, spread over five properties located in São Paulo and Rio de Janeiro. The spaces represent a total leasable area of ​​73 thousand square meters.

Within 12 months, Mogno Suno Logística’s shares are down 46% and the return with dividend for the period is 10.09%.

BRL II strut ( BRLA11) is also launching an offer and wants to raise up to R$120 million

Another real estate fund that has announced a new stake issuance is BRL Prop II, which plans to raise up to R$120 million, according to a material fact released on Monday (2).

According to the document – referring to the seventh offering of the portfolio – the unit value of the new shares was set at R$ 161.46. In the previous session, BRL Prop II shares were trading at R$158.

To have pre-emptive rights to the offer, the investor must have a position in the fund at the end of Tuesday (3). This right must be exercised between May 4 and 10.

With three properties in his portfolio, the fund’s net worth is R$285 million. The rate of return with dividends is 7.79 in 12 months and the average daily liquidity of exchange-traded shares is only 41 thousand Rls.

Industrial XP (XPIN11Raised an amount of 50 million Brazilian riyals to pay for a plot of land in Minas Gerais

The XP Industrial Fund, on Monday (2) concluded the issuance of certificates of real estate receivables to True Securitizadora (CRI) to raise R$50 million.

According to a notice to the market, the operation was backed by real estate loans arising from existing leases of the fund’s properties.

The value of the issuance of CRIs will be corrected by the accumulated variance in the consumer price index (IPCA), plus an additional cost equal to 7.50% per annum.

The money will be used to pay for the land acquired by the fund in July 2021 in Extrema, Minas Gerais. A logistics warehouse will be built on the site with a total area of ​​approximately 14,000 square meters.

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April Real Estate Giro: the search for land in high-income areas of SP generates a “scythe battle” between developers

The explosion of new building construction in São Paulo has led to a fierce – and costly – land dispute, particularly in high-income areas.

Developers are paying hundreds of millions of riyals for spaces previously occupied not only by homes, but even smaller buildings, which will now become skyscrapers. But finding land in the capital is getting more and more difficult.

This happens for a number of reasons: São Paulo is already a city with a vast building area, and the current master plan, enacted in 2014, only allowed tall buildings to be built in areas close to major public transportation hubs, such as subway stations.

Moreover, not many properties have been launched as in recent years. For a basis for comparison, until 2018, the total number of launches made in the capital was 39 thousand units per year, according to data from Secovi-SP – since then, this number has more than doubled.

This generates a “battle of scythe”, as defined by executives and entrepreneurs in the sector. And companies are willing to pay a heavy price for a good opportunity. In 2021, for example, the developer even managed to partner with the traditional Malzoni family to acquire a plot of about 18 thousand square meters for the construction of a project. The cost was estimated at about 500 million Brazilian riyals.

The company’s Vice President of Operations, Joao Azevedo, defines this purchase as “special” and “unique”, as it is difficult to find a large plot of land in such a close and desirable area as Avenida Brigadeiro Faria Lima. But negotiating, says the executive, wasn’t easy: “I’ve had more than a hundred meetings with the family,” he recalls.

Discover step by step Live on income with FIIs and get your first rent in the account in the next few weekswithout the need to own property, in a Free category.