Vinci Logística fund buys R$140m Campinas warehouse complex with Shopee as tenant

The Brazilian real estate fund Vinci Logística (VILG11) completed the acquisition of the Multimodal Campinas logistics complex in São Paulo state for R$140 million, with e-commerce company Shopee among its tenants. The property, located in Campinas, has 46,300 square meters of leasable area, priced at approximately R$3,000 per square meter. The fund paid R$56 million upfront, with the remaining R$84 million split into two IPCA-adjusted installments due in six and twelve months. VILG11 projects an initial cap rate of 9.9% and an average yield of 18.5% in the first year. The seller provides a minimum income guarantee for up to 12 months to protect against vacancy. The AAA-class complex, near Viracopos airport, has 13 modules with 12-meter ceilings and hosts five tenants, with Shopee and Grupo MBRF accounting for over 75% of rental revenue.