BY CHRONICLE STAFF
Local and foreign investors are bullish on the outlook for real estate in Brazil, as are local brokers, a Latin Business Chronicle survey of ten leading experts shows.
"Equity International is extremely bullish as relates to real estate opportunities in Brazil," says Gary Garrabrant, CEO of Equity International. Equity, the US company chaired by real estate legend Sam Zell, has invested in three major real estate companies in Brazil - Gafisa, BR Malls and BRACOR.
Brian Carr, the co-head of Morgan Stanley Real Estate Investing - Americas, is also bullish. "We view the outlook for the real estate sector in
And investors like Advent International are also following the sector closely. "Due to factors like macroeconomic stability, GDP growth and mainly the increase in real estate credit, we expect strong and solid growth for the next years," says Patrice Etlin, head of investments in Brazil for Advent International. "Evidence is the fact that Brazilian real estate companies have been able to reach capital markets (both equity and debt) in a way never seen before."
Advents Latin American Private Equity Fund IV raised a whopping $1.3 billion 11 days ago - the largest private equity fund ever raised for investment in Latin America.