BR Properties Buys Traviu

Brazil real estate company BR Properties says it has acquired Traviu Empreendimentos for BRL157m. A BR spokeswoman says the company is paying cash and that there were no outside financial advisors involved in the deal. Traviu’s logistics warehouses have a total of 339,548 square meters of gross leasable area, with average lease prices of BRL16-BRL18 per square meter per month, according to estimates by US-based real estate company CB Richard Ellis. In March, BR Properties raised BRL1.1bn at BRL13.0 per share through an IPO.