Real Estate Fund PVBI11 (VBI Prime Properties) reported last Friday (04/04) that China Construction Bank (Brazil), one of the four largest banks in China, reported to terminate the lease with commercial plates in the FL 4.440 building, located in the Faria Lima region in São Paulo.
Return covers a total of 6,239.93 m², distributed between the second, 4th and fifth floor of the property.
Office FII quotas registered a reduction of 2.76% at 11:56 on Monday (7), one of today’s largest. At the same time, IFix, the most negotiated real estate funds index in the stock exchange, registered 1.11%to 3,243 points.
Although the original contract does not provide fines for early dismissal, the parties reached an economic agreement. The fund will receive R $ 4.38 million for the end of the tenant, representing about $ 0.16 per quota. The ejection is scheduled to take place in May 2025.
Administrator BTG Pactual and Homeland Manager VBI comment that the rental value for the areas that will be returned represents about $ 0.06 per quota. The estimate takes into account that the fund holds directly and indirectly 100% of the asset.
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