Economy launches pilot project to create Union real estate funds

The Ministry of Economy selected 237 assets to be incorporated into the first Real Estate Funds (FIIs) of the Union. The expectation is that the pilot notices of the project ‘Incorpora Brasil!’ be published in March of this year.

The project has been carried out by the Special Secretariat for Privatization, Divestment and Markets of the Ministry of Economy with assets selected by the Secretariat for Coordination and Governance of Union Heritage (SPU).

According to the ministry, the intention is to create funds with a similar vocation, such as development funds and logistics funds, for example.

Large areas could be incorporated for the creation of new neighborhoods or for the creation of logistical warehouses. Carlos Prates Airport in Belo Horizonte (60 hectares) and Beira-Mar Sul in Florianópolis (130 hectares) are among the selected assets.

“We are creating a wholesale solution. Instead of selling property by property, we can monetize through large lots, which guarantees us a sales scale compatible with the offer we have”, said Diogo Mac Cord, Special Secretary for Privatization, Divestment and Markets.

Another feature of the project will be the guarantee of liquidity for large properties, which, if sold in isolation, would not have the same success as the strategy of dispersing quotas within the funds. “If I offer a piece of land in a prime area within a city for the creation of a venture, I promote the industry, immediately, generating jobs”, added Mac Cord.

For now, the portfolio is in the market survey phase for structuring funds, a stage that runs until January 28.

Questionnaires were sent to the main managers and developers in the country, selected from the database of the Brazilian Association of Financial and Capital Market Entities (Anbima). There will also be individual meetings with agents, in Rio de Janeiro and São Paulo, at the end of the month.