Felsberg Advogados advised on the deal
Socopa won a bid for the hiring of specialized technical services for structuring, administration, custody and operation of such fund back on January. The company will be responsible for the administration of the fund for 5 years (which may be extended).
The fund portfolio is evaluated at BRL 1 billion, comprising a portfolio of 264 properties out of a stock of more than 5,000 properties throughout the state of São Paulo. To accomplish this deal, the State Government endorsed the Socopa’s registry application of the REIT at CVM – the Brazilian capital markets regulator.
The State of São Paulo is a pioneer in the creation of a mechanism to optimize and rationalize the public resources available through the creation of investment funds and sale of real estate. The governor Márcio França signed its regulation on December 10, 2018 at Palácio dos Bandeirantes. The Secretaries of the Treasury, Luiz Cláudio Rodrigues de Carvalho, and of the Government, Saulo de Castro Abreu Filho, also participated of the solemnity.
Felsberg advised SOCOPA – Sociedade Corretora Paulista S.A. with a team including Fernanda Amaral (Picture – partner – capital markets, real estate), Tatiana Altemari (associate – capital markets, real estate).
Law Firms: Felsberg Advogados;
Clients: SOCOPA – Sociedade Corretora Paulista S.A. ;