Retail Brazil I
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Investing in Shopping Sobral
The favorable development of the Brazilian economy and the high domestic demand have had a very positive impact on the retail sales, which is currently growing at double-digit rates. There is, therefore, a great shortage of vacant shops and shopping centers.
In November 2010, Retail Brazil I launched an investment in the construction of a shopping center in the city of Sobral. Shopping Sobral is located in Sobral, Ceara's third largest town. It is the first shopping center to be constructed in the city that is inhabited by around 200.000 people.
The primary target is the growing middle class, which besides demanding more and better shopping options also appreciates safety and favorable parking options.
Shopping Sobral will be opened to the public by the end of 2012. In February 2012, 94% of the shops had already been leased. The project had a governmental financing of BRL 30 million, at a yield of approx. 7.5%.
January 2012
January 2012
November 2011
October 2011
October 2011
October 2011
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August 2011
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March 2011
March 2011
The center is owned in J/V 50/50 with Cameron Construtora
• Investment: 14,850,000 BRL
• 23,500 m2 with 127 shops, food court, cinema and 915 parking
spaces
• Guarantee of the first 5 years of rent and cost budget
• Governmental financing from Banco do Nordeste do Brasil