BRAZIL: The First Investor (TFI), the investment banking arm of Qatar’s Barwa Bank Group, has announced the closing of its TFI-Hines Brazil Income Real Estate Fund.
The fund, which recently closed its first seed acquisition with an investment in Sao Paulo’s World Trade Center, has a target size of US$500 million and is expected to achieve a net leveraged internal rate of return of 10-12.5% for investors.
The fund is a joint venture between TFI and US-based Hines International Real Estate Holdings.