Related Group Targets Brazil’s Wealthy With Developments
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Related Cos., Related Group of Florida and the German investment company Metropolis Capital Markets are targeting high-income homebuyers as they invest in the Brazilian real estate market.
Related Cos., based in New York, and Miami-based Related Group are building a Sao Paulo apartment tower along with a separate complex that includes a shopping mall, offices and multifamily units, with a combined value of as much as 3.5 billion reais ($1.5 billion). Metropolis plans to invest 30 million reais in the next two and a half years in Duxxi Imobiliaria SA, its Brazilian real estate brokerage, with the goal of becoming one of the biggest companies in its sector.