Brazilian Barons Plan to Pour $1B Into US Real Estate
One of the wealthiest families in Brazil has plans to bulk up its U.S. real estate holdings.Votorantim SA, a holding company controlled by the Ermirio de Moraes family, is looking to accumulate nearly $1 billion in real estate assets in the United States in the next five years, Bloomberg reported. The company’s property arm, Altre Empreendimentos e Investimentos Imobiliarios SA, has already invested $200 million in equity and loans.Altre’s holdings are spread across the United States and Brazil, with the U.S. representing 20 percent of its portfolio. Within the U.S.,...