Brazilian Preps Commercial RE Fund

Brazilian asset manager TRX Gestora de Recursos is preparing a BRL150m ($77m) commercial real estate focused fundo de investimento imobiliario (FII) transaction. The TRX Varejo fund plans to acquire commercial and retail-focused properties, according to a prospectus. The fund aims to begin meeting investors in early May and close subscriptions by May 29. The transaction may be upsized by as much as BRL53m. Bradesco is managing the sale.