Setin Incorporadora has sold its Pullman Ibirapuera and Ibis Expo SP Hotels to XP Hotéis FII
The Pullman Ibirapuera and Ibis Expo SP Hotels, owned by Setin Incorporadora, have been acquired by XP Hotéis FII, a real estate investment trust (REIT) managed by XP Asset, the asset management division of a Brazilian financial services group. Setin has also invested in the REIT. Financial details have not been disclosed.
Setin is one of the largest real estate developers in Brazil. With approximately 6,600 hotel rooms in more than 30 properties, the group accumulates an extensive track record in the hospitality segment. Setin is also engaged in residential and commercial real estate development.
Oaklins' team in Brazil acted as the exclusive financial advisor to Setin in this transaction.
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PartnerSão Paulo, Brazil
Senior AssociateSão Paulo, Brazil
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