Brazilian Preps Industrial FII

Brazilian asset manager TRX Gestora de Recursos is preparing a BRL138m ($61m) industrial real estate focused fundo de investimento imobiliario (FII) transaction. The TRX Desenvolvimento Modular fund begins with an industrial property in Sao Paulo State, according to a prospectus, and may acquire others. The timing remains to be determined. XP Investimentos is managing the sale.