(Yahoo! Finance) GTIS Partners, a global real estate investment firm that manages over $4.3 billion in gross assets with a focus on residential and industrial investments, today announced the sale of 62% of the Triple-A Corporate Building, Infinity Tower. The property, valued at $277 million, is the largest single asset property sale in Brazil’s history.
With a strategic location in the Faria Lima region in São Paulo, 233,500 square feet of the 376,700 square foot property was sold by GTIS Partners for $172 million.
“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,” said Tom Shapiro, President and Chief Investment Officer at GTIS Partners.
Infinity Tower began its operations in 2012 and GTIS Partners has managed all stages of the project development process, including construction, leasing, and asset management. The development is a landmark among AAA buildings with its architectural design, advanced technological resources and high constructive standards.