X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

HOUSTON-As part of its nationwide objective to acquire or develop logistics parks throughout Brazil, Hines has started work on the one-million-sf Louveira Swans Industrial Park and 1.1-million-sf Cajamar Distribution Park, both in the Sao Paulo area. The firm has five other logistic parks underway or completed, with plans to develop an additional 14 in the next three years.

Louveira Swans Industrial Park, situated on a 54.6-acre site, is an expansion of Louveira Distribution Park. The expansion will be developed in three phases, all to be done by December 2009.

The 78.4-acre Cajamar Distribution Park, going up along Anhanguera Highway near Sao Paulo’s ring road, will be built in two phases. It too will be completed in December 2009.

The logistics parks are funded through Hines CalPERS Brazil Fund II, a joint venture between Houston-based Hines and Sacramento-based CalPERS. The fund targets investments in office, industrial and residential markets in Brazil, with the option to extend its reach to Argentina and Chile. Hines’ executives were unavailable for comment by deadline.

Hines entered the Brazilian market 10 years ago. Since then, the firm has developed more than 12 million sf of office, industrial and residential space and currently manages 9.5 million sf. Among its prized holdings is a 409,000-sf architectural landmark at Avenida Dr. Chucri Zaidan 246 in the Marginal Pinheiros submarket. Its other logistics developments are located in Araucaria, Rio, Embu and Manaus. Hines is focused on the Brazilian markets of Sao Paulo, Louveira and Embu [suburban Sao Paulo], Rio de Janeiro, Curitiba and Campinas.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.