Rio Bravo Readies Commercial RE Fund

Brazilian investment firm Rio Bravo is preparing a BRL366m ($182m) fundo de investimento imobiliario (FII) real estate fund, according to a prospectus. The fund is to contain eight commerical properties located mostly in the cities of Sao Paulo and Rio de Janeiro. The timing remains to be determined. Citi and XP Investimentos are managing the transaction, which can be upsized to as much as BRL400m.