Botafogo Trade Center

Office Retrofit

Botafogo Trade Center was Paladin’s first commercial retrofit in Latin America, and an ideal example of achieving outsized returns without taking full development risk. The building was purchased from a failed partnership in 2008, and through various architectural modifications, was transformed from a medical facility into a class “A-“ office building in one of Rio de Janeiro’s most supply constrained submarkets. The building was leased at more than 2x the underwriting rents and sold to a local real estate fund in 2012.

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