Brazilian property investment sees building fully let
Date added: 28th February, 2011 at 09:05
(view all articles from February, 2011)
Categories: Property News, Rio
Brazilian property Bela Paulista Building in Sao Paulo is now fully let, it has been reported.
The real estate is owned by Standard Life Investments, which also rents out offices in Rio de Janeiro, according to Property Magazine International.
Purchased for R$54.4 million (£20.34 million) in August 2010 by the institution's Select Property Fund, the 6,542 sqm building is now leased to Nextel, Ambitex and Euler Hermes, alongside existing tenants Funenseg and Nossa Caixa.
The news provider explained the real estate is located in one of the city's most prestigious areas, Avenue Paulista.
As well as letting this property, the Select Property Fund has finished renovating the Alana II Building in Sao Paulo and is looking for tenants.
The fund aims to buy well-situated property in Rio de Janeiro and Sao Paulo, upgrade it and rent it out.
Standard Life Investments won the Financial Adviser's award for Best Investment Service Provider from 1993 to 2010 in January.
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