Davis Polk & Wardwell LLP advised BR Properties S.A. and the selling shareholders in connection with an initial public offering of 71,876,000 common shares for an aggregate amount of approximately US$522.6 million. The common shares trade on the São Paulo Stock Exchange. Securities in the international offering were placed under Rule 144A and Regulation S.

Headquartered in São Paulo, BR Properties is one of the main commercial real estate investment companies in Brazil, focusing on acquiring, leasing, managing, developing and selling commercial properties, including office space, industrial warehouses and retail locations.

The Davis Polk corporate team included partner Manuel Garciadiaz, associates Drew Glover, Ivana Martins (admitted only in Brazil) and Shingira (Shingi) Masanzu (not yet admitted) and foreign temporary associates Joao Paulo Bueno Minetto (admitted only in Brazil) and Eduardo H. Paoliello Jr. (admitted only in Brazil). Partner Mary Conway and associate Catherine P. Tennant provided tax advice. Associate Catherine L. Martin provided 1940 Act advice. Inés Velasco was the legal assistant on the transaction. All members of the Davis Polk team are based in the New York office.