History and Track Record

Squarestone Brasil was co-founded in 2007 as a Brazilian retail-focused real estate development and investment business having previously worked together over a number of years on various non-Brazilian real estate investment projects. The founders have a track record of identifying real estate opportunities, creating operational platforms from which to deliver them and producing attractive returns for investors.

After researching the market the management team made its first acquisition, Bonsucesso Mall, located in São Paulo in March 2008 having raised £20 million of equity from a private investment consortium from the UK. Bonsucesso Mall has been actively managed by Squarestone since acquisition and will continue to be managed by the Company (although the Company does not have any economic interest in the property).

Click here to see Bonsucesso Mall track record.

In September 2008 the management team raised a second private fund with c.£16 million of equity to acquire and initially fund a 50% interest in a development project, Golden Square Mall, also located in São Paulo. The 50% interest in Golden Square Mall was acquired by Squarestone Brasil on Admission to AIM for a mix of cash and equity and will be developed out by the Company. The Company has since signed a joint venture with Walton Street Capital and Brazilian investment bank BTG Pactual to develop out the mall, which is scheduled for completion in Q3 2012.

Click here to see Golden Square Mall details.