São Paulo, March 26, 2020 – São Carlos Empreendimentos e Participações S.A. (“São Carlos” or “Company”; B3: SCAR3) announces to its shareholders and to the market in general that it has raised R$100,000,000.00 (one hundred million reais), through the issuance of a bank credit note with Itaú Unibanco S.A. with a term of 1 year. The funding aims to strengthen the Company‘s cash position.
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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.