Billionaire Brazil Family Behind Votorantim Eyes US Real Estate After Pandemic
- Votorantim eyes multifamily housing and commercial buildings
- Company rules out IPO this year for its bank or other units
A Banco Votorantim branch in Sao Paulo.
Photographer: Nelson Almeida/AFP/Getty ImagesThis article is for subscribers only.
Votorantim SA, a conglomerate owned by one of Brazil’s wealthiest families, is looking for opportunities to invest in US real estate for the first time in 2023.
The Sao Paulo-based holding is interested in multifamily housing properties and commercial buildings amid a “dislocation” of prices coming out of the pandemic in different markets, including New York and the West Coast, Chief Executive Officer Joao Schmidt and Chief Financial Officer Sergio Malacrida said in an interview.