FII XPCM11 has a new tenant after 20 months of total vacancy in the portfolio; stable ifix

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The FII XP Corporate Macaé (XPCM11) signed a contract for the lease of six sets of the homonymous building, located in the city of Macaé, in Rio de Janeiro.

The space is the only property in the fund’s portfolio and has been completely unoccupied since December 2020, when Petrobras (PETR4) terminated the contract with the portfolio.

Faced with the total vacancy of the portfolio, the FII XP Corporate Macaé closed 2021 with a drop of 48%, the largest among the portfolios that were part of the Ifix – index of the most traded funds on B3 – at the time.

To further complicate the FII’s situation, the Corporate Macaé building, located on Avenida Prefeito Aristeu Ferreira da Silva, in the Novo Cavaleiros neighborhood, was reassessed at the end of last year and had its fair value reduced by 20%.

The newly leased sets – last week – represent a gross leasable area (GLA) of just over 3,000 square meters and the contract has a term of 60 months, according to a material fact released on Friday (9).

With the new lease, the fund reduces the portfolio’s vacancy rate from 100% to 85%.

The gross monthly revenue generated by the lease – excluding monetary correction and fund expenses – is estimated at approximately R$0.02 per share.

Next Thursday, FII XP Corporate Macaé will deposit BRL 0.12 per share, equivalent to a monthly return with dividends of 0.83%. The distributed resource is still part of the termination fine paid by Petrobras, the fund’s former lessee.

ifix rises

In this Monday’s session (12), the IFIX – index that gathers the most traded real estate funds on B3 – operates in the negative field. At 11:24 am, the indicator registered a slight drop of 0.02%, at 2,979 points. Check out today’s highlights:

Biggest highs of this Monday (12):

tickerNameSectorVariation (%)RBRF11RBR AlphaTítulos and Val. Mob.0.93ARRI11Reit Atrium Receivables Securities and Val. Mob.0,89SNFF11Suno FoFOutros0,73BPFF11Brasil Plural AbsolutoTítulos e Val. Mob.0.71SARE11Santander RendaHíbrido0.67

Biggest casualties of this Monday (12):

tickerNameSectorVariation (%)CVBI11VBI CRITítulos and Val. Mob.-1.81CPFF11Capitânia ReitHíbrido-1.29JSRE11JS Real EstateHíbrido-1.2HGRE11CSHG Real EstateLajes Corporativas-1.07VINO11Vinci OfficesLajes Corporativas-0.9

Source: B3

Discover the step-by-step guide to living on income with FIIs and receiving your first rent in your account in the next few weeks, without having to own a property, in a free class.

ALZR11 completes sale of property in SP; PQAG11 extends lease agreement with Natura

Check the latest information released by real estate funds in relevant facts:

FII Alianza Trust (ALZR11) completes sale of property for BRL 203 million

The FII Alianza Trust Renda Imobiliária concludes the sale of a property located on Avenida Nações Unidas, in São Paulo, leased to Clariant Brasil, a company in the chemical sector. The business was started in April 2022.

According to a material fact released on Friday (9), the property has a plot of approximately 32,800 square meters and a built area of ​​29,000 square meters.

For the location, the fund will receive R$ 203 million, of which R$ 89 million was paid last week. The remaining balance must be paid by October 10, 2022.

The managers of the FII Alianza Trust Renda Imobiliária will still calculate the profit from the transaction, which will later be disclosed to the market and distributed to the shareholders in accordance with the portfolio regulations. The rent on the property sold represented approximately R$0.12 per share in the fund’s monthly income.

FII Parque Anhanguera (PQAG11) extends lease agreement with Natura

FII Parque Anhanguera has extended the term of the lease for two properties leased by the fund to Natura Cosméticos, it said in a statement to the market.

The lease term for the Distribution Center and Administrative Headquarters buildings – which would initially end in February 2032 – was extended to September 2034.

The spaces are part of the Nasp complex, located in the city of São Paulo (SP), which corresponds to a plot of approximately 112 thousand square meters. The place is fully occupied.

According to the managers, the lease term of the Annex Building – also leased to Natura in the Nasp complex – remains unchanged, with the end scheduled for February 2027.

They also claim that no changes were made to the other clauses of the contract with the company.

dividends today

Check out which funds distribute income this Monday (12):

tickerBackgroundPerformanceHABT11Habitat II R$1.03RMAI11REAG Multi Real Estate Assets R$0.26

Giro Imobiliário: market lowers more expectations for IPCA; how to identify FIIs with dividends protected from deflation

Focus Report: Inflation expectations continue to fall and GDP to rise

The financial market has once again reduced inflation expectations for 2022 and 2023 and raised the projection for growth in the Gross Domestic Product (GDP) for both this year and next, show data from the Focus Report released this Monday (12). ) by the Central Bank.

It was the eleventh consecutive week of decline in the projection for the IPCA (Broad Consumer Price Index) this year and the fourth for next year. For 2022, there are also 11 straight weeks of high projections for the GDP estimate in 2022 and the second high forecast for the growth of the economy in 2023.

According to financial institutions consulted weekly by the BC, expectations for this year’s IPCA rose from 6.61% a week ago to 6.40%. For 2023, the projection dropped from 5.27% to 5.17%.

For the second week in a row, however, the IPCA projection for 2024 rose, from 3.43% last week to 3.47% this week.

“paper” FII shielded from deflation? How to identify funds with dividends protected from the negative IPCA

Choosing a “paper” real estate fund – which invests in receivables and fixed income securities linked to the real estate sector – has required less effort from the investor in recent years. Faced with inflation and high interest rates, most portfolios of this type delivered boosted dividends in the period without major difficulties.

With the negative IPCA in July and August, however, the scenario changed. “In general, the impact of deflation on receivables funds is negative”, says Gabriel Fiorillo Nunes Pereira, partner and head of real estate funds at Acqua Vero Investimentos. “The trend is a reduction in dividends distributed, although this depends on the characteristics of each fund”.

Now, a more detailed analysis of the portfolios is necessary. Aspects such as protection against deflation and reserves accumulated by FIIs should enter the investor’s radar.

“Paper” FIIs often buy securities such as certificates of real estate receivables (CRIs). In practice, companies in the real estate segment “package” future revenues they have to receive – such as rents or installments for the sale of apartments, for example – in the form of CRIs, sold to investors. In general, the paper has a fixed yield and monetary correction by an indicator, which is usually the CDI rate (interbank deposit certificate) or the IPCA.

In recent years, the profitability of “paper” FIIs followed the rise in prices and interest in the country, and the funds reached an appreciation of almost 30% in 12 months.

In August, however, the IPCA registered a deflation of 0.36%, according to data released this Friday (9) by the IBGE (Brazilian Institute of Geography and Statistics). In July, the index had already registered a negative result of 0.68%, turning on a yellow light among investors of “paper” funds. And just as the yields of CRIs purchased by “paper” FIIs are readjusted upwards when the indicator points to an advance in prices, they are also revised downwards when the opposite happens.

Given the correlation of receivables FIIs with macroeconomic indicators, Pereira, from Acqua Vero, recommends that investors who have “paper” funds or who intend to acquire these portfolios pay extra attention to the characteristics of the portfolios.

“A very important factor is how much of the fund’s equity is indexed to inflation indices and the CDI rate”, he points out. “Other factors that must be considered are the accumulated and undistributed results and monetary restatement, in addition to the amount of securities with protection against deflation”, he details.

Discover the step-by-step guide to living on income with FIIs and receiving your first rent in your account in the next few weeks, without having to own a property, in a free class.

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