Gafisa seeks financing for Even deal
Gafisa seeks financing for Even deal Brazilian real estate developer looks for $19 mln in long-term and low-cost funding for the $58 mln acquisition
Corporate & Sovereign StrategyDebtEquityFundsM&ABrazilLatin America Brazilian real estate developer Gafisa said Wednesday that it is looking to get BRL103 million ($19.4 million) in financing for the acquisition of the Hotel Fasano Itaim project and 32 studio apartments in São Paulo from Even Construtora e Incorporadora.
São Paulo-based Gafisa closed the BRL310 million acquisition, putting up BRL152 million in cash and getting BRL55 million from investors, it said in a presentation. It paid BRL280 million for 80.4% of the hotel complex, which includes restaurant