Exact Brazil A/S has invested in one of its pipeline projects

Exact Brazil A/S has invested in one of its pipeline projects Enseada Reserva (Formerly known as Portugal Praca).

The project consists of 350 apartments, each 75 m2 and worth approx. DKK 330 million.

Exact Brazil A/S will own the project in a 50-50 joint venture partnership with our Brazilian partner Camaron.

Exact Brazil A/S' is anticipated to earn a net profit of approx. DKK 28 million from this investment.

The investment is based upon a "permuta agreement", meaning the land is acquired in exchange of a certain number of apartments, sold off in the latter stage of the project.

Furthermore, Camaron has received a guaranteed banking bridging loan of approx. $100 million in connection with the construction of the project.

A letter of intent is signed and the final contract will be signed between Christmas and New Year.