Equity International aims to profit from Brazil real estate sector
The Brazilian property market is currently among the top sectors for investment in the world and one company has revealed that is looking to take advantage of this.
US firm Equity International, which is owned by billionaire investor Sam Zell, is considering opening a Brazil real estate financing company, according to Bloomberg.
"Real estate specialty financing is a sector that is still nascent in Brazil and there are opportunities here that aren’t being met in a scalable way," said Thomas McDonald, chief strategic officer and vice president of investments at the company.
The firm is currently looking for a partner to begin operations in the country, but may decide to open its own company if it cannot secure an affiliate, the news provider reports.
Equity International already has stakes in the second biggest Brazilian property firm Gafisa and low-income housing division Construtora Tenda.
Analysts recently predicted that Gafisa will have seen a rise in profits in the second quarter of the year on the back of a prosperous Brazilian property market, according to Reuters.
