Caixa pension fund Funcef sells “package” of branches in four states to TRX

• read more: Caixa pension fund Hunsef sells 4-star hotel on the outskirts of Rio
• Hunsev sells another big property – this time to Sirera

The assets are located in the cities of Rio, São Paulo, Jundiai (SP), Salvador, São João de Meriti (RJ), São Gonçalo (RJ), Niterói (RJ) and Curitiba. Both are bank branches.

As a result, this venture marks TRXF11’s debut in this segment. TRXF11 is valued at R$ 3.2 billion on the stock exchange and its portfolio includes 74 properties that are ready or under construction: 71 “big box” retail stores (brands such as Pont de Azúcar, Carrefour, Leroy Merlin), a medical hospital center for oncology treatment (Albert Einstein), a diagnostic center (Delboni), a Mercado, etc. Libre logistics warehouse.

The purpose of the Fund is to purchase or develop real estate and generate rental income. TRX often acquires stores from its own tenants in an operation known as a “sale and leaseback.” The assets are spread across 12 states and 41 cities in Brazil.

This transaction is part of a series of operations carried out by Funcef with its real estate portfolio. As already mentioned in the column, this year the Foundation sold to Cirera, for example, a 4-star hotel on the Rio coast and 200,000 square meters of land in Santo Andre, ABC Paulista.

This operation will provide liquidity to Fancef, allowing it to more easily dispose of its 11 TRXF shares if it wishes. Pension funds were required to sell assets or convert them into real estate funds by 2030, but that obligation was ultimately rescinded by the National Monetary Council (CMN).

“I do not comment on ongoing negotiations or strategies,” Hounsev said in response to the column, adding: “The operation in question has not yet been completed and is subject to precedent conditions.”

TRX said it “does not comment on market rumors or ongoing negotiations.”