Quasar Agro fund concludes first deal with Belagrícola

Quasar Agro, a real-estate fund focused on farm storage created at the end of 2019 by Quasar Asset Management and managed by BTG Pactual Serviços Financeiros, has just completed its first deal. With an investment of R$90 million, it acquired four silos from input distributor Belagrícola in northern Paraná and leased them for ten years to Belagrícola itself – which “unlocked” funds to foster expansion projects. Rent, in this case, was set at 9.75% of the deal’s final figure per year, divided into 12 months. Fund chief Eça Correia says he is currently discussing deals that could generate R$670 million. Quasar Agro raised R$504 million from13,590 investors when it started trading on B3 and is authorized to raise as much as R$10 billion.

Source: Valor Econômico