GTIS Partners has sold its 62% stake in the Infinity Tower office property in Brazil for $172m (€161m).

Infinity Tower, in the Faria Lima region, began its operations in 2012 and GTIS Partners has managed all stages of the project development process, including construction, leasing, and asset management.

GTIS said Lucio, Omar Maksoud and AMY, which have participated in the venture since 2007, will now own 100% of the fully-leased 340,000sqm asset.

The $277m Infinity Tower is the largest single asset property sale in Brazil’s history, according to GTIS.

Tom Shapiro, president and CIO at GTIS Partners, said: “We are pleased to have completed this transaction, which reaffirms that high-quality real estate in Brazil remains attractive to investors.

“Despite several economic cycles and the current debate about the need for office space, Infinity Tower has remained fully leased for almost a decade to some of the largest multinational corporations.”

To read the latest edition of the latest IPE Real Assets magazine click here. 

Topics