HBR Realty Empreendimentos Imobiliários has signed definitive agreements to sell stakes in four assets to SPX Portfólio Alfa FII, a real estate fund managed by SPX Real Estate, for R$937.7m (about US$171m), the company said in a material fact notice dated 4 November 2026.
Why SPX Portfólio Alfa Fundo de Investimento Imobiliário (managed by SPX Real Estate Gestão de Recursos) is buying Stakes in four HBR Realty assets: 20% of Mogi Shopping, 25% of Suzano Shopping, 50% of Patteo Olinda Shopping and 90.9% of Lead Corporate Faria Lima
HBR said the sale reflects its strategy of active portfolio management, asset recycling and optimisation of its capital structure.
Deal terms and financing
The fund is buying 20% of Mogi Shopping, 25% of Suzano Shopping, 50% of Patteo Olinda Shopping and 90.9% of the Lead Corporate Faria Lima office building. Of the R$937.7m, R$562.6m will be paid in cash at closing and R$375.1m in four annual IPCA-indexed instalments of R$93.77m starting on the first anniversary of closing, with the deferred balance held in escrow. HBR said the buyer has already raised the funds. The US dollar figure uses the Banco Central do Brasil PTAX selling rate of R$5.4778 for 4 November 2026.
Regulatory approvals and timing
Closing is expected by 11 November 2026.
Market context
The agreements follow a memorandum of understanding with SPX Real Estate disclosed on 27 August 2026 and HBR's tender offer for homebuilder Helbor, according to Money Times and InfoMoney.
