The coronavirus pandemic has affected the unevenly: while some sectors felt more the loss of revenue from tenants, others experienced accelerated growth. This is the case, for example, of funds that have supermarkets and wholesalers among their assets.
Build income with real estate funds. Learn from Professor Arthur Vieira de Moraes
To manager TRX, owner of the fund TRXF11, focuses on managing Grupo Pão de Açúcar and Assaí stores. With about 15 thousand shareholders and almost 600 million reais under management, the fund brings the expertise of managers in real estate called build to suit (when the construction is custom-made for a tenant) and in salelease back (when the manager buys a fund and signs a contract with the tenant).
Although the model has risks linked to the “exclusive” relationship with the tenant, Luiz Amaral, partner and founder of TRX, explains that there are ways to mitigate this dependency.
“We cannot have specific properties to the point of serving only that tenant,” he said, in conversation with Arthur Vieira de Moraes, specialist in real estate funds, in the program FIIs in EXAMINATION.
He explains that TRXF11’s strategy of focusing on grocery stores has several reasons. The first is the resilience of food retailing itself, proven even during the coronavirus pandemic. The second reason is the possibility of adapting these properties for other purposes in the future.
“The supermarket stores are, after all, small warehouses that are extremely well located. In the future, these spaces may change their vocation and be used as advanced logistics points. For e-commerce, points like this are extremely important to improve the delivery time,” explains Amaral.
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