Paladin Realty Partners has created a new programmatic joint venture to develop a portfolio of purpose-built rental apartment properties in São Paulo, Brazil.
“We are very excited to be partnering with Idea Zarvos to deliver a portfolio of branded, purpose-built rental apartment buildings,” said Julian Villacorta, managing director at Paladin Realty. “The institutional rental apartment product is well-proven in the United States and elsewhere in the world but has yet to be properly established in Brazil.”
The venture has initially committed in excess of R$130 million ($tk million) to capitalize its first projects, with the intention of increasing the size of the program as more sites are identified.
“The apartment rental market in Brazil is currently highly fragmented with a wide variation of unit quality, finishes and property management,” said Jim Worms, CEO at Paladin Realty. “After evaluating this market for more than a decade, Paladin believe
