Corporate Profile

São Carlos is one of Brazil’s leading commercial property investment and management companies. It is specialized in acquiring large corporate towers that are functioning in an inefficient manner and resolving these inefficiencies in order to increase profitability. São Carlos’ goal is to maximize rental revenues and the real estate portfolio’s market value through a business strategy that includes: (a) investing in office buildings with large floor plates and retail properties; (b) improving the properties through investments and active and professional management, and increasing rents; and (c) disposing of mature properties that have achieved their highest revenue generating potential. The company’s portfolio consists primarily of class A office buildings and retail properties, most of which located in the states of São Paulo and Rio de Janeiro. São Carlos does not work with residential properties, hotels, shopping malls or small office spaces.

The company was created in 1999, after the spin-off of the retailer Lojas Americanas’ real estate assets, to operate independently in the commercial property sector. São Carlos’ controlling shareholders, with 53% of total shares, are J. P. Lemann, C. A. Sicupira and M. Telles. The company has been listed in the ‘Novo Mercado’ corporate governance segment of the BM&F Bovespa since December 2006, under the ticker SCAR3 (Bloomberg ticker: SCAR3 BZ ).

São Carlos ended December 2020 with a portfolio of 77 properties, an estimated market value of R$5.0 billion, annual recurring lease revenues of R$266.4 million and recurring EBITDA margin of 84.7% of net revenue.

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