Structuring a Real Estate Securitization Transaction

The law firm Mazzucco & Mello provided legal counsel for the structuring and implementation of the 287th issuance, in a single series, of Real Estate Receivables Certificates (CRI) by GCB Securitizadora II SA, totaling R$ 3 million with a term of 60 months.

Regulatory Innovation: CVM Offer 88 and DLT

The transaction was structured within the context of a public offering exempt from registration with the Brazilian Securities and Exchange Commission (CVM), pursuant to CVM Resolution No. 88, conducted through GCB's electronic participatory investment platform, with registration of the CRI (Real Estate Receivables Certificates) on a Distributed Ledger Technology (DLT) network and registration and deposit with Laqus Depositária de Valores Mobiliários SA.

Collateral in Commercial Notes, Fiduciary Regime and Guarantees

The CRIs (Real Estate Receivables Certificates) are backed by Commercial Notes from the 1st series of the 1st issuance, in two series, of Commercial Notes from GBM Otávio Lobo Empreendimento Imobiliário SPE Ltda., in the amount of R$ 3 million. The funds raised are intended to finance the development of a real estate project located in Fortaleza/CE. The operation also has a surety guarantee, in the form of an endorsement, provided by Pramorar Participações Ltda., and the establishment of a fiduciary regime, under the terms of Law No. 14,430, of August 3, 2022.

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