On Wednesday, August 5, 2026, Cyrela Brazil Realty (CYRE3) announced the execution of a non-binding memorandum of understanding with the fund TRX Real Estate Fundo de Investimento Imobiliário – Responsabilidade Limitada (TRXF11) and its manager, for a potential transaction involving the sale of a real estate asset portfolio valued at approximately R$ 2.14 billion.
The portfolio includes office floors in the Cyrela Oscar Freire Corporate Building, in São Paulo, as well as equity interests, mostly minority stakes, and other rights linked to real estate investment structures that hold four logistics warehouses.
The transaction also provides for the creation of two real estate investment funds to be managed by Cy.Capital Gestora de Recursos Ltda., in which TRXF11 will act as anchor investor for the acquisition of these assets.
The total price of around R$ 2.14 billion may be increased by up to approximately R$ 103 million if interests held by certain third parties are acquired, subject to adjustments set forth in the memorandum. Of the total amount, about 50% would be paid in local currency and 50% through TRXF11 units.
Cyrela emphasized that the memorandum does not obligate the parties to complete the transaction. Closing is subject to satisfactory audits, negotiation and execution of definitive agreements, obtaining regulatory and governmental approvals, third-party consents, the absence of material legal, regulatory or judicial impediments, and the implementation of the fund and financing structures contemplated therein.
