Safra Readies FII

J Safra’s asset management arm is preparing a BRL201m ($103m) real estate fund for Brazil’s domestic Fundo de Investimento Imobiliario (FII) market, according to regulatory documents. The JS Real Estate Receibiveis Imobiliaros FII plans to invest in properties, as well as real estate-linked securities including Certificados de Recibiveis Imobiliarios (CRI) or Letras Hipotecarias (LH). The bank plans to begin meeting investors and taking orders Friday, and wrap up by early April. Safra is the administrator of the fund and will also manage the sale of the shares.