Retailer C&A Completes $93 Million Sale Leaseback of Brazillian Store Portfolio

Valor Economico reports that Department store chain C&A, controlled by the private equity firm Cofra, has completed the sale leaseback of 30 stores in Brazil to Comercial Progressivo II, a real estate fund structured by Brazilian Mortgages and managed by Ourinvest. Investors in the fund include Canadian fund PSP Investments. The sale leaseback is reported to be R$200 million ($93 million) and is said to be part of Cofra`s strategy to pull out from the Brazilian real estate market. Sphere: Related Content