FII MAXR11 falls sharply after Americanas add fund property leasing to creditor checklist

The Ifix – index of probably the most traded actual property funds on the inventory change – closed the session this Thursday (twenty sixth) down 0.25% at 2,809 factors. FII Votorantim Logística (VTLT11) topped the checklist of the day’s largest features, rising 2.08%..

One other spotlight of the day was Max Retail (MAXR11) – which isn’t a part of Ifix’s theoretical portfolio – down 4%.

In a single key reality, the fund signaled that it has not obtained December’s hire from the retailer – with fee scheduled for this month. The worth was included within the firm’s debt checklist, which was launched this Wednesday (25).

“The administrator has been made conscious that the hire owed by the tenant is handled as a mortgage, that’s, a mortgage current on January 19, 2023 and topic to the results of judicial confiscation,” the doc factors out.

In response to MAXR11, the excellent lease quantity is BRL 514,000, which is BRL 0.46 per share.

In January, the fund paid BRL0.67 per share, a dividend primarily based on the portfolio’s returns for the earlier month. The worth represents a dividend yield (yield with dividends) of 0.94% over the interval.


Of the 9 properties within the fund, 4 are at present leased to Americanas, in keeping with a administration report launched by the portfolio in December 2022.

The corporate operates branches within the Fund’s portfolio in Taguatinga (DF), Vitória (ES), Belém (PA) and Maceió (AL). Collectively, the areas add as much as round 32,000 sq. meters of the fund’s nearly 60,000 sq. meters of whole rental area – about half.

VBI Logístico (LVBI11), one other fund that leases properties to Americanas, confirmed – additionally in a cloth reality – that the December lease was paid in full by the corporate in January.

Within the doc, the portfolio additionally recollects that it was not directly added to Americanas’ checklist of collectors by its stake in Aratulog Armazenagem.

The fund has a 70% stake within the firm answerable for the logistics condominium in Aratu, Bahia, and counts B2W amongst its tenants – from the identical group as Americanas. Within the retailer’s checklist of collectors, Aratulog seems because the holder of a mortgage of R$871,000.

The LVBI11 additionally notes the involvement of the Affiliation of Founders and Tenants of VBI Log Aratu – answerable for funding the administration of the corporate’s widespread areas. The corporate must obtain an quantity of R$386,000 from Americanas.


Try the up to date checklist of Americanas debt with actual property mutual funds, as per the checklist launched by the corporate:

background ticker Americanas Debt
CSHG logistics HGLG11 R$4,254,245.22
CSHG logistics HGLG11 R$1,114,550.18
VBI Logístico (Aratulog Storage) LVBI11 R$871,938.78
XP log XPLG11 R$849,445.05
RB Capital Petros not listed R$777,968.83
Buying Park D Pedro PQDP11 R$737,218.99
Bresco logistics BRCO11 R$667,816.66
Ancar IC Buying ANCR11B R$619,618.25
Pateo windmills not listed R$604,990.73
Max retail MAXR11 R$514,179.37
VBI Logístico (A. Aratulog Tenant) LVBI11 R$386,232.58
Extra procuring MSHP11 R$377,978.12
RB Capital Patrimonial not listed R$315,440.25
Kasper not listed R$17,997.94
New life FIVN11 R$14,549.59
In whole R$12,124,170.54

No less than eight actual property funds — together with those who disclose tenant names — have some relationship with Americanas. The quantity would not bear in mind the mall FIIs that ultimately home the retailer’s shops. Try the opposite highlights of the day.

Largest highs this Thursday (26):

ticker Surname sector Variation (%)
VTLT11 Votorantim Logística logistics 2.08
SDIL11 SDI Rio Bravo logistics 1.49
CARPET11 properties of the earth Company Plates 1.35
[ativo=BTCI11] BTG Pactual actual property mortgage Title and Val. Mob. 1.01
MORE11 Extra actual property FoF 0.79

Largest casualties this Thursday (26):

ticker Surname sector Variation (%)
RBFF11 Rio Bravo Ifix FoF -2.65
thunder11 Tordesilla’s EGG growth -2.22
RZTR11 Riza Terrax Hybrid -1.99
BLMG11 Bluemacaw logistics logistics -1.7
SALT11 Santander earnings Hybrid -1.54

Font: B3

dividend at this time

Try the FIIs paying dividends this Thursday (26):

ticker background energy
TJKB11 TJK tip R$2.48

Font: StatusInvest

Giro Imobiliário: Development inflation accelerates in December, increased dividends in January and extra issuance

FII denies strategic failure by concentrating 20% ​​of income in offers with Americanas; perceive

With a drop of greater than 10% in January, the FII GGR Covepi (GGRC11) disputes that Americanas’ present share of the fund’s revenues might be considered as a strategic flaw.

The portfolio leases a distribution middle (DC) to B2W – owned by the identical group as Americanas – in Uberlândia, Minas Gerais. The world represents 19.5% of the Fund’s income and 24% of the portfolio’s whole GLA.

When it comes to diversification, the numbers symbolize a big focus in only one tenant – one thing that is not very wholesome for the portfolio – as acknowledged by Pedro van den Berg, managing director of Zagros Capital answerable for the GGRC11.

“[O ideal é que] No tenant has a share of greater than 10% of the fund’s earnings, which I think about wholesome,” he confirms. “The impression of a state of affairs like this is able to be a lot smaller if Americanas accounted for 10% or much less of the fund’s income,” the supervisor says, citing the retailer’s monetary disaster.

What, then, would justify GGR Covepi’s practically 20% focus of Amerianas in its portfolio? Berg explains that two causes clarify the company deal’s weight within the fund’s numbers: macroeconomic circumstances and the historical past beforehand offered by the retailer.


INCC-M accelerates to 0.32% in January from 0.27% in December, FGV says

The Nationwide Development Price Index (INCC-M) accelerated to 0.32% in January, in contrast with a peak of 0.27% in December, the Getúlio Vargas Basis (FGV) stated this Thursday (26). The rise in INCC-M was pushed by the labor part (0.16% to 0.77%), whereas the supplies, tools and providers section fell to -0.12% from 0.38%.

On openings, the providers charge modified from 0.43% in December to 0.53% in January, with the concentrate on accelerating the merchandise providers and royalties, which modified from 0.00% to 2.40%. Supplies and Gear had a 0.26% deflation, after rising 0.37% in December 2022, with a concentrate on Constructing Supplies, which rose to -0.55% from 0.62%.

The important thing constructive contributors to January INCC-M had been Specialist Assistants (0.19% to 0.82%); servants (0.17% to 0.93%); raise (0.64% to 1.14%); Carpenter [fôrma, esquadria, telhado] (0.14% to 0.78%) and masons (0.15% to 0.71%).

Then again, the results of atypical Portland cement fell (-0.20% to -3.37%); PVC pipes and fittings (-2.26% to -4.12%); Carbon metal rebar and wire (2.69% to -0.86%); PVC pipes (-0.88% to -1.73%) and wood doorways and home windows (0.07% to -0.49%).

Workplace Fund is the largest dividend payer in January, characterised by distinctive returns

The true property fund of the workplace section Autonomy Edifícios Corporativos (AIEC11) will shut the primary month of 2023 with the excessive dividend yield (return with dividends) among the many most vital FIIs on the inventory change. The share was 1.94%.

The info comes from Economatica, a monetary data platform, and relies on the 111 actual property funds that make up the Ifix – an index that summarizes probably the most liquid FIIs on B3.

All portfolios have already introduced their anticipated dividend funds for this month. The final was BTG Pactual Terras Agrícolas (BTRA11), which can pay BRL 0.87 per share on the thirty first.

Among the many funds monitored had been 48 in January dividend yield over 1% per thirty days. The quantity is increased than the 38 registered in December.

At first of the month, Autonomy Edificios Corporativos (AIEC11) distributed R$1.32 per share, representing a month-to-month return of 1.94%. The share is the best for the month, in keeping with Economatica knowledge. Try the checklist of the highest ten payers in January.

Microapartments: House owners are older and purchase to take a position, and younger individuals hire for the placement

A pattern in main Brazilian cities, “micro-apartments” are being purchased by older individuals to complement their earnings to take a position and rented by youthful individuals for his or her location and independence, in keeping with a survey of householders and tenants performed by QuintoAndar.

The corporate surveyed greater than 250 landlords and 175 tenants in São Paulo (all residents of properties below 30m²) and used the QuintoAndar and Imovelweb databases, in addition to Wimóveis (acquired with the acquisition of the Navent Group) in a number of cities to conduct the survey to carry out .


Round 60% of the house owners surveyed are over 50 years outdated and, in keeping with the survey, the micro-apartment is a part-time supply of earnings for greater than 90%. The primary objective is to take a position, with 67% citing proximity to public transport as the primary distinction of the property and greater than half (56%) citing engaging buy value as the primary motivator.

Moreover, two in three owners personal a couple of dwelling, and most plan to personal extra properties.

Learn to spend money on a CDB that delivers as much as double financial savings with day by day liquidity and Mortgage Assure Fund safety (partnered with XP).

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