GTIS Sells Stake in Brazil Office Building for $172 Million

GTIS Partners LP, a real estate private equity firm with about $4.3 billion under management, is divesting from one of its main assets in Brazil.

The firm sold its 62% stake in Sao Paulo office building Infinity Tower for $172 million, according to a statement, claiming the transaction “is the largest single asset property sale in Brazil’s history.” The buyers were three local real estate developers -- Lucio, Omar Maksoud and AMY -- which already owned the rest of the building.

Infinity Building in Sao Paulo

Source: GTIS Partners LP

The sale “reaffirms that high-quality real estate in Brazil remains attractive to investors,” Tom Shapiro, chief ...