HSI aims to buy educational-sector real estate fund portfolio, but must face off Credit Suisse’s FII
- Mint Capital
- 17 de jun.
- 1 min de leitura
SI has entered the competition to acquire the portfolio of the Mint Educacional real estate fund (MINT11). In addition to CSHG Renda Urbana (HGRU11), which submitted a proposal late last month, Hemisphere South Investments (HSI) has also expressed interest in the fund’s assets.
According to a market communication sent last Thursday (July 21), HSI—with R$ 12 billion in assets under management—offered just over R$ 69.7 million for the portfolio.
MINT11 owns four assets located in Minas Gerais, Rio de Janeiro, and São Paulo. The properties add up to 22,800 m² of gross leasable area (GLA) and are focused on the educational sector.
HSI’s offer follows a competitive process initiated by Mint Capital, the fund’s manager, aimed at “attracting alternate bids” to improve outcomes for shareholders over the HGRU11 offer.
Mint notes that Credit Suisse’s proposal—based on a valuation of R$ 112.5 million—is lower than both the fund’s net asset value and appraisals. Meanwhile, HSI set its valuation higher, backing its offer on a R$ 131.5 million property assessment.
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