VBI Real Estate, a resource manager focused on the real estate market, is preparing to invest between R$200 million and R$300 million per year in the promising market for renting apartments for university students and recent graduates. The sector of student housing it is big in the United States and Europe, but still little explored in Brazil. The focus of the contributions is Uliving, a company in which VBI has as a partner the British Grosvenor Group, specialized in the field abroad.
In 2021, VBI will conclude its first major investment cycle in the company. The three-year plan provided for disbursements of R$ 500 million, but the partners increased the check to R$ 600 million given the good opportunities. Of this total, R$ 400 million have already been executed.
The group recently purchased two buildings for renovations and adaptation in São Paulo (Pinheiros) and Santos, and a plot of land in Campinas to build an enterprise from scratch. In the next cycle, the goal is to go beyond the Rio-São Paulo axis and reach Porto Alegre, Curitiba, Belo Horizonte and Brasília, says the founder and partner of VBI, Rodrigo Abbud.
The walking pace was accelerated in the middle of the pandemic, even with college students at home. However, Abbud is betting on the return of this audience when the situation returns to normal. “When young people leave their parents' house, it is difficult for them to accept going back, except for financial reasons”, he says. In addition, the company also began to serve recent graduates looking for an apartment in large cities.
Uliving closed 2020 with 1,3 vacancies, a number that will rise to 1,8 at the end of 2021. Last year, occupancy dropped to 50% due to the quarantine, but recovered in the following months, reaching 75 % at the moment. Rent starts at R$1.300 for a shared room and can go up to R$4.500 for a more spacious single apartment.
SOURCE: STATE OF S. PAULO
