Real Estate #Investment World Latin America: FUNCEF talk with Carlos Augusto Borges
Carlos Borges, Director of Private Equity and Real Estate for FUNCEF, gave a presentation at Real Estate Investment World Latin America on Tuesday, October 18th, describing the growth of the FUNCEF pension fund and Brazil as well.
In 2010, Brazil had record revenues from tourism with $16 billion dollars accumulated over the year. Domestic flights also were at record highs in 2010 which has led to a 16% increase in hotel occupancy since 2003.
FUNCEF currently manages $27.9 in assets under management with 7% currently in real estate. Of that 7% (1.9 billion dollars), the two main areas of investment are in shopping centers and office buildings. FUNCEF has also begun to develop a hotel portfolio.
For more information, check out Real Estate Investment World Latin America.