Sao Carlos Empreendimentos e Participacoes S.A. (Brazil)

Sao Carlos Empreends E Participacoes S.A. is a prominent investment and commercial real estate management company in Brazil. The company owns and operates a portfolio of high-end office buildings and convenience centers located in the states of Sao Paulo and Rio de Janeiro. Originally created from the split of real estate assets from Lojas Americanas, Sao Carlos has become a reference in both the office and convenience center segments. In the office segment, the company specializes in acquiring well-located commercial buildings with high potential for appreciation. They also maximize the value of their portfolio through investments in infrastructure and architecture, improving operational efficiency, and managing lease contracts with top-tier clients. In the convenience center segment, Sao Carlos stands out for developing and operating properties exclusively for this segment. These centers are strategically located in high-traffic areas and generate recurring sales for retail businesses. As of December 2022, Sao Carlos had a portfolio of 115 properties valued at R$ 5.5 billion. Their annualized recurring revenue from rents and services was estimated at R$ 305 million, with a recurring EBITDA margin of 72.1% of net revenue.