Paladin Realty Partners announced the launch of a mixed-use development project located in São Paulo’s Pinheiros neighborhood. The project is expected to generate approximately R$400m (US$103m) of total sales. The investment was made by Paladin Realty’s fifth pan-regional fund focused on Latin America.
(Press Release) São Paulo, Brazil April 4, 2019 – Paladin Realty Partners, LLC, a leading real estate investment fund manager focused on Latin America, announced today the launch of its latest mixed-use development, “CORE”, located in São Paulo’s upscale Pinheiros neighborhood. The 512-unit project is a mix of for-sale residential, hotel, and medical office space, anchored by a ground-floor medical clinic to be operated by Brazil’s leading healthcare operator. In its first week of sales, the project pre-sold 63% of its housing units and 85% of its medical office units. The hotel is expected to be launched in the coming weeks.
Paladin Realty is co-developing the project with YOU, Inc., a long-time residential development partner of Paladin Realty, and Toledo Ferrari, a prominent construction and development firm.
The nearly one-acre site enjoys an excellent location in a bustling, upper-income submarket of Brazil’s largest city, a short walk to the Oscar Freire metro station as well as one of São Paulo’s principal hospitals.
“We are very excited about the launch and early success of our CORE project,” said Ricardo Raoul, Managing Director and Brazil Country Head at Paladin Realty. “It’s been both a fun and challenging project to conceptualize, and it’s always rewarding to see our efforts received so well by the market. It is also further evidence of the resurgence in Brazil’s economy, consumer confidence and real estate market after some challenging years.”
The CORE project is expected to generate approximately R$400 million (US$103 million) of total sales. The investment was made by Paladin Realty’s fifth pan-regional fund focused on Latin America and brings the total number of residential and hotel units that Paladin has developed in Brazil to more than 18,000 units in the firm’s two-decade history.