Since its inception, HSI has actively monitored the office sector and developed a long track record of acquisitions, development, and redevelopments in premium locations in São Paulo and Rio de Janeiro, the primary office markets.

An in-house engineering and property management team ensure the highest standards of construction and active management of the entire portfolio. We are pioneers in the development of LEED-certified buildings in Brazil, with over certified projects.

Between 2018 and 2021, we led the market by delivering 172,000 sqm in office space in São Paulo (Faria Lima Plaza and Parque da Cidade, detailed below).

Faria Lima Plaza

Supported by an accurate market read and extensive experience in the sector, in 2018 we identified an opportunity to deliver an iconic office development in São Paulo’s primary CBD, Faria Lima, in anticipation of a period of space scarcity that would pressure lease rates.

Through a venture that saw VR Investimentos contribute the land, HSI became responsible for developing and building Faria Lima Plaza, a Class-AAA, Leed Gold-certified office building featuring an iconic design and a market reference in urban mobility in São Paulo. Designed by world-renowned architecture firms KPF and KOM, the 40,000 sqm project adds to HSI’s development portfolio alongside ECO Berrini (SP), ECO Sapucaí (RJ) and the Parque da Cidade complex (SP).

In late 2020, leveraging our market reputation, the tower was sold to a local fund for BRL 481 million, notwithstanding a mere 50% completion at the time and looming sector uncertainties on account of the global pandemic. The sale and divestment was completed upon delivery of the asset in 2021.

Parque da Cidade

In 2018, HSI acquired Parcel B of Parque da Cidade, a mixed-use complex in São Paulo located in the Av. Nações Unidas region, home to many of the major multinationals established in Brazil.

Backed by HSI’s extensive development track record, construction of three Class AAA towers was launched, representing 128,875 sqm GLA off LEED Gold-certified office space, at the time the largest office development in Latin America. Developed with an eye towards sustainability, the project employed cutting-edge technologies that helped secure the only LEED Neighborhood Development certification in Latin America.

In early 2019, we entered into contract to sell one of the towers for BRL 596 million. By the end of the year, the remaining two towers were also under contract to the same buyer for BRL 776 million, for a combined BRL 1.3 billion. The towers were delivered in December 2020, six months ahead of schedule, concluding the divestment.