Gafisa : Presentation - FASANO – Closing of the Transaction
January 13, 2021 at 08:56 am
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Scope of Transaction
As Gafisa Propriedades concluded the acquisition of Fasano Itaim project (Hotel + Studios, below), the Company adds to its assets one of São Paulo's main references over next decades in the luxury hotel sector.
Hotel
Events Center
2 Restaurants + 1 Coffee Shop
Studios
107 units with
56 m2 average area
Total area of 2,000 m2
Restaurant 1: 101.36 m2
Restaurant 2: 264.41 m2
32 units with
28 m2 average area
Fasano Itaim Project
Structure of Transaction
Gafisa S.A.
Gafisa
Propriedades
Investors
Fundo Imobiliário
Multimercado Oita
19.63%
80.37%
100%
Fundo Ibiza
Fundo Pompéia
Hotel, Restaurants
32 Studios
and Events Center
Uses and Sources
Uses
R$ MM
Sources
R$ MM
Hotel (including
Restaurants
280
Gafisa (direct)
152
and Events
Center
Studios
30
Gafisa
103
(financing)
Investors
55
Gafisa Propriedades plans to expand its business by optimizing and recycling capital, so that to allow its portfolio structuring and diversification, and allocation in different projects. Also, the Company seeks opportunities to bolster its operations with long-term and low-cost financing.
Thus, according to this operation, Gafisa plans future transactions, which should increase the Company's interest in this business to approximately 33%*.
*There is no estimate when this may occur, Gafisa Propriedades' interest may change or even be fully sold to third parties, depending on the market conditions.
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Disclaimer
Gafisa SA published this content on 13 January 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 January 2021 13:55:06 UTC
Gafisa SA is one of the Brazilian leaders of individual houses building. The group's activity is organized around 3 sectors:
- construction and sale of individual houses: 2,354 units sold in 2018;
- development and sale of land;
- subcontracting construction services.