NEW YORK CITY-Brazilian real estate investment management company, MaxCap Real Estate Investment Advisors, and locally based Merrill Lynch & Co., have formed a joint venture to invest in real estate throughout Brazil. The joint venture will acquire and develop properties in a diversified range of real estate sectors.

MaxCap and Merrill Lynch’s relationship began in 2006 and have already made more than $135 million in real estate investments in Brazil. “The joint venture will enable us to build a leading investment platform in Brazil,” José Paim de Andrade Jr., MacCap’s founder and CEO, tells, adding that he expects to increase it “substantially” over the next few years. Paim says that due to a “quiet period,” he cannot divulge how much total capital is in the investment vehicle.

He explains that the joint venture looks to invest in areas such as residential development, retail, the commercial sector, as well as residential companies. He also explains that the partnership already has investments in seven cities throughout Brazil, and are not looking to invest in any geographic region in particular. “We have more of a national focus,” he says.

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