More than 88% of Brazilians live in homes. This number may seem strange to the inhabitants of large metropolises who see each day a new skyscraper being built in the cities. This, however, is the reality of most of Brazil and it is in this “fertile ground” that Brazil Terrenos, a company that makes open subdivision and has already reached billionaire figures – and wants to grow even more.
Founded by Moisés Carvalho Pereira and Sidney Penna in 2003, the company has just been raised R $ 700 million in a high demand CRI, according to sector experts. “We had already done several CRIS, but for specific cases-not necessarily to distribute retail,” says Alexandre Pedreira Pereira, vice president of finance and son of one of the founders, celebrating the largest emission made by a lot of lot.
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The emission comes to lengthen a debt that “is no longer so large”, and to consolidate the “growth of the next three years: we are already putting indoors what we need until the end of 2027,” says the executive.
In 2024, Brazil Terrenos reached the second largest real estate profit in Brazil, with R $ 1.246 billion and has a gross margin of almost 79% and a net margin of 64%, with extremely low leverage – 0.1x compared to net equity of R $ 4 billion. “We are saying that what is available in a paid box all our short -term indebtedness, which is extremely low,” says the executive. All of this corroborated the Rating AA+ of S&P, the company and the emission.
With the operation, the company is already preparing for any impacts that 2026 presidential elections may have. “We know that in an election year there may be a scarcer credit and we see it as an opportunity. So we advance to have a full cash, position ourselves to reap the opportunities,” he says, noting the timing of the offer, because of the exemption of IR, which can fall.
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The process for issuing was relatively long. “We had help from banks, modeling the business, doing projections and bringing us the view that it owes a piece of PL is extremely healthy to give business speed,” he says.
IPO to sight?
Capture is a way of ‘testing the waters’ to a possible public offering of actions. But Pereira doesn’t just seek money at Faria Lima, the real interest is for the company’s perpetuity. “The money, the appreciation of the company, none of this is wrong. We live in capitalism, and at the end of the day, it is important to make money, yes. But ours case It comes very linked to governance. We seek the capital market for perpetuity: we want the company to be eternal, ”says the executive.
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The company was born in 2003 in Pará and began its expansion process in 2008, upon arriving in Tocantins. In 2014, the headquarters moved to Goiânia – “a centralized city, two hours of flight from any region of Brazil”. Between 2021 and 2022, the company consolidated its national presence and, between 2023 and 2024, banks helped structuring markets and capital. Now the company is a closed capital S/A, with a quarterly audit, prepared to enter the market when it is time.
“We have the house ready for the capital market, but it does not depend on us, it depends on ‘stars’ from the capital market. What I can say is that we will open with the lowest possible percentage [free float] And let’s only promise what to deliver, ”he says.
With a presence in 79 cities in 17 states, Brazil Terrenos has a landbank of $ 23 billion. “The company grows in two different ways: within the cities we are already today and looking at new opportunities,” says the executive.
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The desired growth for the next triennium is 15 thousand lots per year and a R $ 2 billion per year. “But if you look at the rearview mirror, we have already made 33,000 properties in the year. Then we can say that our case has no risk of execution on the table,” he says. Spreaded by several “Brasis”, as Pereira says, the business and the risks are sprayed. “We are not linked to one region. If any city or state has a problem, such as a delay for approval, for example, this is a very irrelevant percentage in the company at the end of the day. For us, this is a great fortress of the business,” he says.
Another way to mitigate risks is the bet on verticalization at all stages of the process: land prospecting, incorporation and partnership with local entrepreneurs until the distribution of more than 730 own machines for construction and management of customer portfolio. “Property has three rules in our head, location, location and location.” In this case, Brazil Land seems to be in the right place.
