Sale of Stake in Morumbi Park


Sale of Ideal Fraction in Edifício Morumbi Park

São Paulo, Brazil – November 14, 2017 – São Carlos Empreendimentos e Participações S.A. (“São Carlos” or “Company”; B3: SCAR3) hereby informs its shareholders and the market in general that Top Center Empreendimentos e Participações Ltda., a subsidiary of São Carlos, entered into a Public Deed of Purchase and Sale, through which it sold a 37% stake in Morumbi Park (“Property”) for R$74.3 million. The payment was made in two installments: the first of which, of R$7.2 million, was paid on July 10, 2017, and the balance was fully paid in the signature of the deed of purchase and sale.

Morumbi Park is located at Rua Pedro Avancine, 73 – São Paulo/SP, and has 22,200 sq.m. of gross leasable area. The Property is 100% leased to an international education institution and is currently being renovated.

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For further information, please contact the Investor Relations department:

Investor Relations Department
Tel.: (55 11) 3048-6417

About São Carlos
São Carlos Empreendimentos is one of the main companies in the sector of investment and administration of commercial properties in Brazil. Its goal is to maximize rental revenues and the real estate portfolio´s market value. Our business strategy includes investing in commercial properties, retrofitting our real estate and increasing rent, and disposing of already matured properties. We currently have a portfolio which includes mostly class A office buildings and retail stores, located in the States of São Paulo and Rio de Janeiro.