July 26th FYNSAUpper -a vertically integrated U.S. real estate platform capable of serving scalable real estate strategies through a unique approach, completed the sale of two residential rental assets in Houston, Texas, called Morgan & Wilcox. completed the sale of two residential rental assets in Houston, Texas, called Morgan & Wilcox. These properties were the first acquisition of the FYNSA Upper Renta Residencial US I Investment Fundmade in July 2021.

With more than 40.000 m2 of leasable area and 624 residential unitsthe asset had an economic occupancy rate that averaged 70% and was acquired at an average price of US$ 87 thousand per unit.

Interior of the building.

From the start of operations, FYNSAUpper began to apply a value-added program, remodeling and relocating the units. This management allowed us to an average economic occupancy rate offynsau 90%, thus successfully implementing the business plan proposed by our managing partner.successfully implementing the business plan proposed by our managing partner, MarketSpace Capital.

In March 2022, FYNSAUpper received a purchase offer, which culminated in an agreement involving a sale price per unit in excess of US$ 120 thousand. sales price per unit in excess of US$120 thousand., which represents a value close to 39% above the acquisition price and meant an equity multiple of 1.87x over the course of a year.

Following this milestone, the platform will continue to work with local partners to further deliver differentiated, high-level investment opportunities to its clients. differentiated and high-level investment opportunities to its clients..