Brazil real estate draws Quebecian investment
People looking at property for sale in Brazil might be interested to hear that Quebec’s public pension fund is increasing its investment in the Latin American country, it has been reported.
Ivanhoe Cambridge will invest in Brazil real estate through four shopping centres in the nation, according to the Canwest News Service.
The firm – the real estate arm of Caisse de depot et placement du Quebec – will link up with Rio de Janeiro-based Ancar to acquire Sao Marcos Real Estate Enterprises.
Sao Marcos holds positions in four Brazilian shopping centres and the investment strengthens the two firms’ presence, which they have been building up since 2006, according to the news provider.
Marcos Carvalho, president of Ancar, said: "This acquisition represents an excellent opportunity for both partners to capitalize on their expertise in shopping-centre management and development for the benefit of the properties, their retailers and their customers."
It was reported last week by Agencia Brasil that Brazilian property could be set to benefit from millions of visitors attracted to the country if it secures the 2016 Olympic Games.
