Brazilians have been grabbing headlines for the better part of a year for their Miami condo purchases. Now, according to Miami Today, investors from the country are eying commercial buys, too.
They’re mostly interested in institutional-sized investments for new developments. For example, Integra Solutions, founded by Brazilian native Paulo Melo, has partnered with Brazilian investors to purchase three of the four remaining land parcels along the Miami River.
Melo pegs Brazilians’ interest on the country’s rapid economic growth and the favorable exchange rates.
While the interest in commercial property investment doesn’t appear to be as strong, some Brazilains are eyeing Class A properties, which sell for about twice the price in Sao Paulo as they do in Miami.
“Brazil has always had a very close relationship with Florida. We feel comfortable here,” he Melo said. “The timing is great for us to position ourselves in one of the most dynamic cities in the US.” [Miami Today]