Double risk? FII has Americanas as tenant and guarantor of the lease itself; understand

FII Vila Olímpia Corporate (VLOL11) confirmed, in a statement to the market, that it has a lease agreement with two companies related to the Americanas group, which is facing a financial crisis after discovering a BRL 20 billion shortfall in the retailer’s balance sheet and can ask for judicial recovery at any time.

According to the document, the bonds have the company itself as guarantor, a figure that would bear the costs of the property – rent, condominium or extraordinary damages – in the event that the tenant is unable to pay.

Owner of the Vila Olímpia Corporate building, located in São Paulo (SP), VLOL11 leases approximately 3,000 square meters of the building to Bit Services Inovação e Tecnologia and Ame Digital – both connected to Americanas.

The space leased to the two companies represents approximately 30% of the fund’s total acreage, which does not detail the contracts’ participation in the portfolio’s monthly revenues.

In the announcement to the market, the management of FII Vila Olímpia Corporate states that, so far, all obligations relating to the bonds are up to date and confirms Americanas as guarantor of the contracts.

“The fund informs that it has lease agreements signed with Bit Services and Ame Digital, both companies of the Americanas group, which have Americanas as guarantor,” underlines the document.


In addition to VLOL11, seven other real estate trusts — among those that disclose tenant names — maintain ties to Americanas. The number does not consider the courtyards of shopping malls, which ultimately house American stores.

During Where to invest in 2023event hosted by Money infoRodrigo Abbud, one of the managers of VBI Logístico (LVBI11) – which also has Americanas as a lessee – revealed that he is already working with the worst-case scenario in relation to the lease agreement he maintains with the company: default.

“They won’t pay the rent and it will be a bit difficult for those who have Americanas as a tenant,” admits the manager. “The quickest thing to do is to ask for the property to be repurchased and the space to be re-rented,” he points out.

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ifix today

In this Thursday’s session (19), the Ifix – index of the most traded real estate funds on the Stock Exchange – operated stable. At 11:18, the indicator had a slight increase of 0.04%, to 2,839 points. Discover the other highlights of the day.

Highest highs this Thursday (19):


ticking First name Sector Change (%)
BTRA11 BTG Pactual Agricultural Land sour 1.91
BLMG11 Logistics Bluemacaw the logistics 1.87
MGFF11 Mahogany Securities and Val. Assault. 1.2
BCFF11 BTG Pactual Fund of Funds FoF 0.9
VRTA11 truth factor Securities and Val. Assault. 1.18

Major victims this Thursday (19):

ticking First name Sector Change (%)
CARE11 Brazilian cemetery and death care cemeteries -1.18
KNSC11 Kinea Titles Securities and Val. Assault. -0.98
PATL11 Homeland Logistics the logistics -0.94
JSRE11 JS real estate Hybrid -0.9
GTWR11 green towers Company slabs -0.86

Source: B3

LASC11 Cancels Meeting To Discuss Property Sales; new ticker Riza Arctium; RBRD11 properties have a reduced fair price

LASC11 cancels meeting to discuss property sales

FII Legatus Shoppings has canceled the general meeting of shareholders (AGC) which would have discussed the sale of the fund’s properties. The meeting was scheduled for this Thursday (19),

The proposal for the sale of the LASC11 portfolio came from Capitânia Investimentos, asset manager and owner of over 47% of the fund’s shares.

Currently, LASC11 holds a stake in Parque Shopping Belém (PA), Boulevard Vila Velha (ES) and Boulevard Campos (RJ). The hamlets represent a gross leasable area (GLA) of almost 33,000 square meters.

In addition to the sale of the properties, the AGC would also put a vote on hiring CBRE Consultoria do Brasil to search for potential buyers of the spaces.

However, the management of FII Legatus Shoppings has found that the portfolio already has a contract with two real estate consultants – with an exclusivity clause and a penalty for breach of contract.

Faced with the conflict, the fund has decided to cancel the AGC and to discuss with Capitânia Investimentos whether there is still interest in convening a new meeting.

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FII Riza Arctium Real Estate will have a new ticker

FII Riza Arctium Real Estate has announced to the market that it will change the fund’s ticker – exchange trading code. The fund has asked B3 to change the current ARCT11 to RZAT11.

With the change, the shares in the portfolio will trade under the new ticker starting January 26, 2023.

RBRD11 properties have a fair price reduced by 3.15%

The fair price of FII RB Capital Renda II properties was reduced by 3.15%, according to a revaluation carried out by Binswanger Internacional Real Estate, a real estate consultancy.


The change resulted in a 3.32% drop in the equity value of the fund unit, based on the November 2022 close, reports a material fact disclosed by the portfolio.

With net assets of 123 million reais, the hybrid segment fund – which invests in more than one asset class – has four properties in its portfolio.

The spaces are located in Rio Grande do Norte, Minas Gerais and Rio de Janeiro, for a total of 23,000 square meters of GLA.

dividends today

Check out the FIIs paying out dividends this Thursday (19th):

ticking Performance Return
RCFF11 BRL 1.23 1.32%
GCRI11 BRL 1.10 1.17%
MGCR11 BRL 0.88 1.10%
NAVT11 BRL 0.85 1.15%
GCFF11 BRL 0.72 1.01%
OTHER11 BRL 0.54 0.83%
[ativo=AURB11] BRL 0.51
APT11 BRL 0.10 1.14%

Source: StatusInvest

Real estate coup: the judicial recovery of Americanas could come out in the next few hours; PGI-M slows down in January 2nd preview

Americanas says it could file for judicial recovery ‘in the next few hours’

Americanas (AMER3) said this Thursday (19) that, although it has not yet been decided, it is considering filing an urgent judicial recovery application “in the next few days” or “in the next few hours” given its position in the box, a week after revealing an accounting scandal of at least R$20 billion.

The company stressed that, despite the Rio de Janeiro justice having determined the block of 1.2 billion reais from the company in favor of BTG Pactual (BPAC11), the company’s cash position is “only 800 million reais” , “a significant part of this sum was unjustifiably unavailable for management by the Company as of yesterday (18)”.

The day before, BTG obtained in court the right to freeze BRL 1.2 billion from Americanas in the bank’s custody, as decided by Judge Flávio Marcelo Fernandes, second instance of the Court of Justice of Rio de Janeiro (TJ-RJ) .

On the same day, Americanas reported that Bradesco (BBDC4) withheld more than R$ 450 million from the company’s liquidity, which, according to the retailer, violates the protection the company has obtained from justice against the freezing of assets.

PGI-M decelerates to 0.35% in January 2nd reading, versus 0.77% in December 2nd reading

The General Price Index – Market (PGI-M) slowed to 0.35% in the second forecast in January, compared to 0.77% in the same reading in December, the Getulio Vargas Foundation communicated this Thursday morning (19). (FGV).

Two of the three components of the PGI-M recorded a deceleration in this reading. The Broad Producer Price Index (IPA-M) came in at 0.33%, after rising 0.90% in the previous measurement, while the National Construction Cost Index (INCC-M) decelerated from 0.38% to 0.35%. The consumer price index (CPI-M) repeated the change (0.42%) seen in the second December forecast, according to the FGV.


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