DTZ Corporate Finance, a part of DTZ consultancy, has launched a fund to grant European institutional investors access to Brazil’s fast-growing real estate market, PropertyEU reports.
The fund was incorporated by Monteiro Aranha, a listed Brazilian holding company, and will specialise in acquiring minority stakes in residential, office and industrial projects. The target annual net return is set at above 20 per cent.
DTZ intends to raise 138 million euro for the fund over the next few months. Around 55 million euro has already been allocated for 10 real estate projects, primarily in Sao Paulo and Rio de Janeiro.
The fund will operate for six years with two optional 12-month extensions. The minimum investment is 3.7 million euro.
Brazil is one of the largest economies in the world with annual growth estimated at 4-5 per cent in the years up to 2011.
