THE Real estate fund Trbl11 triggered the post office in search of compensation for R $ 306 million for non -compliance with the atypical leasing contract signed for the logistical center of the contagemo, in the Metropolitan Region of Belo Horizonte (MG).
The state -owned company did not occupy the property in October last year, supporting structural problems that caused the temporary interdiction of the property. The company refused to return to the property after the works carried out by the Directorate of the Fund and, in March, broke the contract unilaterally, supporting a fair cause, without any payment.
THE River bravo and the Telluswho share the management of the fund, has presented a declaration and indemnity action against the company owned by the State. The companies say that the technical relations and decisions of the local authorities have certified the full attitude of the Shed for the return of the operations and affirm that the judicial dispute can have a relevant impact on the real estate market.
In the case, Rio Bravo asks for the allowance provided for in the contract, estimated at over 306 million dollars, which corresponds to the remaining rents, more charges, monetary updates and interest. These values ​​are foreseen in atypical contracts, common in large real estate negotiations such as the contagem shed, which has been built in mode built to adapt (BTS), tailored to the rented requests.
The contract between the post office and the Trbl11 was valid until September 2034, in atypical format, that is, it provided for the complete payment of the rents until that date. Felipe Ribeiro, Trbl11 real estate manager, says that the action is consistent with the guidelines to preserve the predictability of the fund and investors’ rights. “Our performance is based on the defense of signed contracts and on the commitment to seek repairs every time there is a basis. This action is another step within this guideline”, he says.
Trbl11 Real Estate Fund: more on the property and the wallet
Last month, the Trbl11 managers recorded a reception of $ 6 million as a compensation for maintenance work carried out in the property, which was certainly left free by the post office in August. This amount was the result of an extrajudicial agreement signed with the previous owner of the property.
The contract with the post office represented about 45% of Trbl11 real estate revenues, which has a net assets of R $ 669.8 million and a portfolio of five logistical properties, with a gross area to browse 255,512 square meters. The counting of the activities is the flagship, with 121,749 square meters of GLA.
Trbl11 reports that it continues to work in search of new professions. According to the management, the property “is still found in a strategic logistical pole, with low holiday and high liquidity”, which strengthens the expectations of a rapid replacement of the activity. For managers, the cause symbolizes the defense of contractual stability, an essential condition for the credibility of the sector and for the protection of the investor.
The post office office declared that the company owned by the State has not yet been officially cited by the Court, but sent the following declaration: “The serious construction problems of the property compromised the essential purpose of the lease contract, making it impossible for the operational use of the building, which is why the post office decided to stop the contract, in a regularly administrative, which has granted the minor a great right of defense.
This Tuesday (30), the Real estate fund Trbl11 has announced the distribution of dividends for an amount of R $ 0.60 per share, with a payment scheduled for October 14th. It is the same value as last month, with a monthly dividends performance of 0.90%, considering the closure of the share at $ 66.27 at the end of the last trading session in September.
Source: Terra

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