Brookfield Asset Management Inc. (TSX:BAM.A) entered into a binding Memorandum of Understanding to acquire FL Financial Center/Faria Lima Square/JK 1455/Miss Silvia Morizono from SYN prop e tech S.A. for approximately $320 million.
November 24, 2021
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Brookfield Asset Management Inc. (TSX:BAM.A) entered into a binding Memorandum of Understanding to acquire FL Financial Center/Faria Lima Square/JK 1455/Miss Silvia Morizono from SYN prop e tech S.A. (BOVESPA:SYNE3) for approximately $320 million on October 19, 2021. The transaction is scheduled to close on November 30, 2021 and may be extended to December 15, 2021. Jon Kellner and Andrea Campos of Paul Hastings LLP acted as legal advisor to SYN prop e tech S.A. while Goodmans LLP and Mayer Brown acted as legal advisors to Brookfield Asset Management Inc.
SYN prop e tech SA, formerly known as Cyrela Commercial Properties SA Empreendimentos e Participacoes, is a Brazil-based company involved in the real estate sector. The Company focuses on the development, trade and management of commercial properties in Brazil. Its activities are divided into five business segments: Commercial Buildings, which consists of the sale and leasing of completed office properties; Real Estate Development, which is involved in the sale of office units under construction; Warehouses, which offers leasing of industrial warehouses; Shopping malls, which is responsible for the lease of stores in shopping malls; and Services, which provides management of shopping malls and parking lots, as well as development of properties. The Company owns a number of subsidiaries, such as Aquarius Empreendimentos e Participacoes Ltda, Millennium de Investimentos Imobiliarios Ltda and Miconia Empreendimentos Imobiliarios Ltda, among others.
Brookfield Asset Management Inc. (TSX: BAM.A) entered into a binding Memorandum of Understanding to acquire FL Financial Center/Faria Lima Square/JK 1455/Miss Silvia Morizono from SYN prop e tech S.A. for approximately $320 million.
SYN PROP & TECH S.A. 
