Funcef, Caixa’s pension fund, sells a “bundle” of branches in 4 states to TRX

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Assets are located in the cities of Rio, São Paulo, Jundia (SP), El Salvador, São João de Mirite (RJ), São Gonçalo (RJ), Niterói (RJ) and Curitiba. They are all occupied by bank branches.

As a result, the operation will mark the debut in this sector for TRXF11, which is valued at R$3.2 billion on the stock exchange and has 74 properties ready or under construction in its portfolio: 71 “Big Box” retail stores (brands such as Pão de Açúcar, Carrefour and Leroy Merlin), a medical oncology hospital center (Albert Einstein), a diagnostic center (Delboni) and Mercado Livre. Logistics warehouse.

The fund’s objective is to purchase or develop real estate to generate income through rentals. In many cases, TRX acquires stores from its tenants, in a process known as “sale and leaseback.” The assets are spread across 12 states and 41 Brazilian cities.

This deal is part of a series of operations carried out by Funcef in its real estate portfolio. As the column already reported, this year the foundation sold, for example, a four-star hotel on the Rio coast and a 200,000 square meter plot of land in Santo Andre, in ABC Paulista, to Cirilla.

The transaction will provide liquidity to Funcef, which will be able to more easily dispose of TRXF11 shares, if it so desires. Pension funds were forced to sell their holdings or transfer them to real estate funds by 2030, but this obligation ended up being canceled by the National Monetary Board.

When contacted by the newspaper, Funsev said that he “does not comment on any ongoing negotiations or strategies,” adding that “the process in question has not yet been completed and is subject to previous conditions.”

TRX stated that it “does not comment on market rumors or any ongoing negotiations.”