October 16, 2019 / 10:18 PM / a month ago

Brazil's BR Properties buys piece of Sao Paulo tower for $86 mln

RIO DE JANEIRO, Oct 16 (Reuters) - Brazilian real estate firm BR Properties SA has purchased half of an office tower in downtown Sao Paulo for 311 million reais ($75 million), its second significant acquisition in less than a week.

In a securities filing, the company said it was purchasing half of the tower located on Avenida Faria Lima, the city's main financial street, from Fundo de Investimento Imobiliario VBI FL 4440.

On Monday, BR Properties paid $186 million for a nearby mixed use development.

($1 = 4.15 reais)

Reporting by Gram Slattery Editing by Chris Reese

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