Ifix closes the session 0.40% higher;  IFI JSRE11 is the most important event of the day

Ifix closes the session 0.40% higher; IFI JSRE11 is the most important event of the day

The Ifix index – which aggregates the most actively traded real estate funds on B3 – closed Monday’s session (29) up 0.4%, at 2,952 points. JS Real Estate Fund (JSRE11) topped the all-time highs list, with an increase of 4.29%. Check out the rest of today’s highlights around FII Center.

FII GGR Covepi (GGRC11) has signed a pledge to sell three properties to another real estate fund, Zavit Real Estate Fund, which is not listed on B3 and closed to public investors. According to a statement released by GGRC11 on Friday (26th), the deal is worth R$110 million.

Under the agreement, GGR Covepi will sell a property located in Colombo (PR), which is leased to Drogaria Nissei, and another in Guarulhos (SP), leased to Copobras Indústria e Comércio de Embalagens.

The portfolio also committed to negotiating 21% of the Annapolis (GO) Logistics Warehouse, currently leased to Companhia Hering.

Once the terms stipulated in the contract are exceeded, GGR Covepi will receive R$71 million until September 22; 21 million Rls in January 2023, and finally, the last installment of 17.9 million Rls at the end of next year.

According to the calculations of Zavit real estate fund managers, the sale of real estate will increase the monthly dividend payout by about R$0.58 per share.

On the part of GGR Covepi, the negotiations will bring a capital gain of R$15.1 million, an amount representing a return of 15.35%. Dividends will be distributed to shareholders throughout this semester, indicating a statement to the market.

On the eighth day, the fund paid a return of R$0.86 per share, equivalent to a monthly return with a dividend of 0.81%.

Monday’s Biggest Highs (29):

ribbon Noun section Variance (%)
js 11 JS Real Estate hybrid 4.29
RBRL11 RBR . record logistics 4.01
SARE11 Santander income hybrid 3.12
BRCR11 BC FUND hybrid 3.04
XPIN11 Industrial XP Aharon 2.92

The biggest victims of this Monday (29):

ribbon Noun section Variance (%)
MFII11 Merit development hybrid -3.18
FIIB11 brazilian industrial hybrid -1.77
RZAK11 Reza Akin Nicknames and Val. Home furniture -1.47
VGIP11 IP VALUE Aharon -1.2
FCFL11 Faraya Lima Campus Aharon -1.04

Source: B3

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HGRU11 buys a commercial complex in the interior of São Paulo; BMLC11 receives termination fine and provides for increased dividends

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

FII HGRU11 acquired a commercial complex in the interior of São Paulo for R$68 million

FII CSHG Renda Urbana has signed a commitment to purchase Dutra 107, a commercial complex located in the city of Taubaté, São Paulo. The fund will disburse 68.25 million Brazilian reais to the project, equivalent to 3177 thousand Brazilian reais per square meter, according to a fundamental fact revealed on Friday (26).

According to the statement, the transaction is subject to compliance with all rules stipulated in the contract.

Under the agreement, CSHG Renda Urbana will pay R$23.7 million from its own resources and raise the remaining balance—about R$44.5 million—from investors, with a Certificate of Real Estate Receivables (CRI) issued.

Dutra 107 has 21 thousand square meters of gross leasable area (GLA) and currently has 12 tenants. Among the tenants are names such as Mobly, Leroy Merlin, Cobasi and Italínea.

The Fund undertakes to disclose, upon completion of the transaction, the details of the rental amounts and the effect of the transaction on the distribution of portfolio profits.

FII BM Brascan (BMLC11) receives a termination fine and offers a dividend increase of up to R$0.10 per share

FII BM Brascan Lajes Corporativas received, on Friday (26) the fine indicating the termination of the contract with GLP Brasil Gestão de Recursos e Administração Imobiliária, which occupied part of the 27th floor of the Torre Rio Sul property, part of the portfolio from below.

In view of the early departure of the property, the company had to pay R$99,000, as evidenced by a fundamental fact revealed by the portfolio.

With the payment, the fund’s dividend should be increased by about R$0.10 per share, taking into account the conversion made in August. This month, FII is paying R$0.56 per share, equivalent to a monthly return of 0.56%.

In addition to the departure of GLP Brasil, the Fund announced, on the fifth day, the intention of ExxonMobil Exploração Brasil to terminate its lease agreement with the portfolio. If the company confirms the termination of the bond, the dividend will be reduced by 14.47%, according to the fund’s own calculations.

FII owns two floors of the Brascan Century Corporate property, located in Itaim Bibi, São Paulo (SP), and four floors of Torre Rio Sul, located in Botafogo, Rio de Janeiro (RJ).

Giro Immobiliario: Financial markets lower inflation expectations; Mortgage credit declines in July

Focus report: Inflation expectations fall for 2022 and 2023

Financial markets continue to lower inflation expectations for this year and next, according to data from the Focus Report released Monday (29) by the central bank. It was the ninth consecutive IPCA decline for 2022, amid the ICMS’ decline for fuel, electricity, communications, and public transportation, and the second for 2023.

The forecast for the IPCA (wide consumer price index) this year fell from 6.82% to 6.70% in one week (a month ago it was 7.15%). The second dropped from 5.33% to 5.30% (four weeks ago it was 5.33%). For 2024 and 2025, expectations remained at 3.41% and 3.00%.

Financial institutions that are consulted weekly by British Columbia also continue to revise their GDP (Gross Domestic Product) forecasts upwards for this year, but to downgrades next year. Estimates of economic growth for 2022 increased from 2.02% to 2.10% (it was 1.97% a month ago). For 2023, it fell from 0.39% to 0.37% (four weeks ago it was 0.40%).

Despite downward revisions to inflation forecasts for this year and next (6.70% and 5.30%), they are still well above the BC target (3.5% and 3.25%, respectively). With a variance of 1.5 percentage points, the target will be achieved if the IPCA remains between 2% and 5% in 2022 and between 1.75% and 4.75% in 2023. If the scenario predicted by the market occurs, the BC target will be breached for three consecutive years (in 2021, Brazil’s official inflation index closed the year at 10.06%).

The market maintained its estimates of Slick and the dollar over the next few years. In the case of interest rates, the projections are 13.75% at the end of 2022, 11% in 2023, 8.00% in 2024, and 7.50% in 2025 (in line with British Columbia projections). As for the exchange rate, it has maintained its forecasts for December of this year and the following three years at 1 US dollar = 5.20 Brazilian reals, 5.20 Brazilian reals, 5.10 Brazilian reals and 5.17 Brazilian reals, respectively.

Real estate credit through savings reached R$17.9 billion in July

In July, real estate financing with savings resources totaled R$17.9 billion, according to data from the Brazilian Association of Real Estate Credit and Savings Entities (Abecip). The volume is 4.5% lower than the same month last year, but a 12.8% increase compared to just the previous month.

According to Abecip, the result is the best for the month this year, and it’s also the second highest volume for July in the entity’s historical series. In total, in the first seven months of 2022, there was R$103.5 billion in financing through the Brazilian Savings and Loan System (SBPE), down 10.6% year-on-year.

The number of units funded in July, at 73.1 thousand, was also the best in 2022 so far, although it was 9.9% lower than in the same month of 2021. Compared to June of this year, there was an increase of 18.5%. From January to June, 427,900 properties were funded with savings resources, down 14.3% year on year.

In construction financing, payments totaled R$3.8 billion in July, led by Caixa Econômica Federal (CEF), with R$2.2 billion, followed by Bradesco, with R$618 million, and Itau, with R$563 million.

In the acquisition, it amounted to R$14.1 billion, also under the leadership of Caixa, which spent R$8.6 billion a month. It is followed by Itau, with R$2.9 billion, and Bradesco, which recorded payments of R$1.3 billion.

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