[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"documento:FATN11:7840":3,"seo:\u002Fdetalhes\u002FFATN11\u002Fdocumentos\u002F7840":16,"fii-documento:FATN11":95},{"id":4,"descricao":5,"assunto":6,"tipo":7,"situacao":8,"texto":9,"link_pdf":10,"estruturado":11,"link_original":12,"data_referencia":13,"data_entrega":14,"versao":15},7840,"(FATN) Laudo de Avaliação (Conclusão de Negócio) - 05\u002F06\u002F2026","","Laudo de Avaliação (Conclusão de Negócio)","(Ativo)","\u003Ch2>\u003Cstrong>Laudo de Avaliação\u003C\u002Fstrong>\u003C\u002Fh2>\u003Cp>\u003Cstrong>Shopping Center Lapa Rua Catão, 72 – Lapa São Paulo \u002F SP\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>BRC RENDA URBANA FUNDO DE INVESTIMENTO IMOBILIÁRIO RESPONSABILIDADE LIMITADA (CNPJ\u002FMF Nº 61.769.663\u002F0001-60) REPRESENTADO PELA BR CAPITAL\u003C\u002Fp>\u003Cp>Ref.: 26_65803\u003C\u002Fp>\u003Cp>\u003Cstrong>Junho de 2026\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>Av. Pres. Juscelino Kubitschek, n° 1830 12° Andar – Torre 4 Itaim Bibi, São Paulo\u003C\u002Fp>\u003Cp>contato@binswanger.com.br +55 11 2985.1101 www.binswangerbrazil.com.br\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7840\u002F7840.pdf-0002-00.png\">\u003C\u002Fp>\u003Cp>ED\u003Cbr>MDS INSWANÇER\u003Cbr>\u003C\u002Fp>\u003Cp>São Paulo, 5 de junho de 2026\u003C\u002Fp>\u003Ch5>\u003Cstrong>BRC RENDA URBANA FUNDO DE INVESTIMENTO IMOBILIÁRIO RESPONSABILIDADE LIMITADA\u003C\u002Fstrong>\u003C\u002Fh5>\u003Ch5>A\u002FC\u003C\u002Fh5>\u003Ch5>\u003Cstrong>Cristiane Bueno\u003C\u002Fstrong>\u003C\u002Fh5>\u003Cp>\u003Cstrong>\u003Cem>REF: Shopping Center localizado na Rua Catão, 72 - Lapa – São Paulo\u002FSP\u003C\u002Fem>\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>Atendendo à solicitação da BR CAPITAL, a BINSWANGER BRAZIL efetuou a avaliação do imóvel em referência, determinando seu \u003Cstrong>Valor Justo para Venda\u003C\u002Fstrong> \u003Cstrong>\u003Cem>(Fair Value)\u003C\u002Fem>\u003C\u002Fstrong> na data-base 05 de junho de 2026.\u003C\u002Fp>\u003Cp>No relatório anexo descrevemos a propriedade em estudo, bem como as metodologias utilizadas para o cálculo dos valores. Este relatório está em consonância com as exigências da Resolução 175, de 23 de Dezembro de 2022 e Instrução 516, de 29 de Dezembro de 2011, da CVM.\u003C\u002Fp>\u003Cp>Consideramos que, mediante a entrega deste relatório, os serviços objeto de nossa proposta encontram-se totalmente concluídos.\u003C\u002Fp>\u003Cp>Agradecemos a oportunidade de elaborarmos este trabalho e colocamo-nos à disposição para dirimir quaisquer eventuais dúvidas.\u003C\u002Fp>\u003Cp>Atenciosamente,\u003C\u002Fp>\u003Cp>Assinado de forma digital por ISABELA ISABELA DORA COSTA DORA COSTA MONASTERSKY:14400445895 MONASTERSKY:14400445895 Dados: 2026.07.28 15:22:33 -03'00'\u003C\u002Fp>\u003Cp>Isabela Dora Costa Monastersky - MRICS BINSWANGER BRAZIL\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7840\u002F7840.pdf-0002-13.png\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7840\u002F7840.pdf-0003-00.png\">\u003C\u002Fp>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>\u003Cstrong>SUMÁ\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>RIO .......................................................................................................... 4\u003C\u002Fstrong>\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>\u003Cstrong>1.\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>INTRODUÇÃO ............................................................................................. 5\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>1.1.\u003C\u002Ftd>\u003Ctd>OBJETO E ESCOPO DA AVALIAÇÃO ........................................................................................ 5\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>1.2.\u003C\u002Ftd>\u003Ctd>CONSIDERAÇÕES INICIAIS ...................................................................................................... 5\u003Cbr>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>1.3.\u003C\u002Ftd>\u003Ctd>CONDIÇÕES LIMITANTES ....................................................................................................... 5\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>1.4.\u003C\u002Ftd>\u003Ctd>EVENTOS SUBSEQUENTES ..................................................................................................... 6\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>2.\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>DOCUMENTAÇÃO ....................................................................................... 7\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>3.\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>CARACTERIZAÇÃO DAREGIÃO ........................................................................ 8\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>3.1.\u003C\u002Ftd>\u003Ctd>LOCALIZAÇÃO ......................................................................................................................... 8\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>3.2.\u003C\u002Ftd>\u003Ctd>ENTORNO ............................................................................................................................... 9\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>3.3.\u003C\u002Ftd>\u003Ctd>USO E OCUPAÇÃO DO SOLO ................................................................................................ 11\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>4.\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>CARACTERIZAÇÃO DOIMÓVEL .......................................................................12\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>4.1.\u003C\u002Ftd>\u003Ctd>QUADRO DE ÁREAS .............................................................................................................. 12\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>4.2.\u003C\u002Ftd>\u003Ctd>DESCRIÇÃO DO IMÓVEL ....................................................................................................... 14\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>5.\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>MERCADOIMOBILIÁRIO NAREGIÃO ...............................................................18\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>5.1.\u003C\u002Ftd>\u003Ctd>Shopping Centers ................................................................................................................. 19\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>6.\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>METODOLOGIAEMPREGADA ........................................................................29\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>7.\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>CÁLCULO DOVALOR DOIMÓVEL ....................................................................30\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>7.1.\u003C\u002Ftd>\u003Ctd>Áreas Adotadas - ABL ........................................................................................................... 30\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>7.2.\u003C\u002Ftd>\u003Ctd>Aluguel Mínimo e Percentual \u002F Complementar ................................................................... 32\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>7.3.\u003C\u002Ftd>\u003Ctd>Crescimentos Previstos ........................................................................................................ 33\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>7.4.\u003C\u002Ftd>\u003Ctd>Quiosques \u002F Mall & Merchandising ..................................................................................... 34\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>7.5.\u003C\u002Ftd>\u003Ctd>Receita de Estacionamento Líquida ..................................................................................... 34\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>7.6.\u003C\u002Ftd>\u003Ctd>Vacância ............................................................................................................................... 34\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>7.7.\u003C\u002Ftd>\u003Ctd>Inadimplência Irrecuperável ................................................................................................ 35\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>7.8.\u003C\u002Ftd>\u003Ctd>Despesas Gerais ................................................................................................................... 35\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>7.9.\u003C\u002Ftd>\u003Ctd>Investimentos \u002F FRA ............................................................................................................. 35\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>7.10\u003C\u002Ftd>\u003Ctd>.\u003Cbr>Cálculo do Valor do Imóvel .................................................................................................. 36\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>7.11\u003C\u002Ftd>\u003Ctd>.\u003Cbr>Fluxo de Caixa da Projeção das Receitas, Despesas e Investimentos.................................. 36\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>8.\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>CONCLUSÃO DAAVALIAÇÃO .........................................................................37\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>APÊN\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>DICEA – AVALIAÇÃO– SHOPPINGCENTER ........................................................38\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>APÊN\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>DICEB – EXPERIÊNCIAEMPRESA ERESPONSÁVEIS ...............................................41\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>ANEX\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>O– DOCUMENTAÇÃO DOIMÓVEL ...................................................................42\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7840\u002F7840.pdf-0004-00.png\">\u003C\u002Fp>\u003Cp>ED\u003Cbr>MD EINS WANÇER\u003Cbr>\u003C\u002Fp>\u003Ch3>\u003Cstrong>SUMÁRIO\u003C\u002Fstrong>\u003C\u002Fh3>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>\u003Cstrong>INTERESSADO\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>BRC RENDA URBANA\u003Cbr>LIMITADA\u003C\u002Fth>\u003Cth>FUNDO DE INVESTIMENTO IMOBILIÁRIO RESPONSABILIDADE\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>\u003Cstrong>PROPRIETÁRIO\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>Diversos\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>OCUPAÇÃO\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>Imóvel Ocupado\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>OBJETIVO\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>Valor de Mercado de V\u003C\u002Ftd>\u003Ctd>enda\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>FINALIDADE\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>Determinação de Valo\u003C\u002Ftd>\u003Ctd>r de Ativos\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>IDENTIFICAÇÃO\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>Shopping Center Lapa\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>TIPOLOGIA\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>Comercial - Shopping\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>Center\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>OBJETO\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>Endereço\u003C\u002Ftd>\u003Ctd>Rua Catão 72\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003C\u002Ftd>\u003Ctd>Bairro\u003C\u002Ftd>\u003Ctd>Lapa\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003C\u002Ftd>\u003Ctd>Cidade\u002FUF\u003C\u002Ftd>\u003Ctd>São Paulo \u002F SP\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003C\u002Ftd>\u003Ctd>Área de Terreno\u003C\u002Ftd>\u003Ctd>6.403,67 m²\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003C\u002Ftd>\u003Ctd>Área Construída\u003C\u002Ftd>\u003Ctd>11.200,00 m²\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003C\u002Ftd>\u003Ctd>ABL\u003C\u002Ftd>\u003Ctd>8.295,01 m²\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003C\u002Ftd>\u003Ctd>Vagas de Garagem\u003C\u002Ftd>\u003Ctd>140\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>DATA BASE\u003C\u002Fstrong>\u003Cbr>05 de junho de 2026\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>ACOMPANHANTE\u003C\u002Fstrong>\u003Cbr>Vinícius\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>Engenheiro do Shopping\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Ch4>\u003Cstrong>CONCLUSÃO DE VALOR\u003C\u002Fstrong>\u003C\u002Fh4>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>\u003Cstrong>VALOR JUSTO\u003C\u002Fstrong>\u003Cbr>\u003Cstrong>PARA VENDA\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>(Renda – Fluxo de Caixa)\u003Cbr>\u003Cstrong>R$ 65.630.000,00\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Sessenta\u003C\u002Fstrong>\u003Cbr>\u003Cstrong>Trinta Mil\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>E Cinco Milhões, Seiscentos E\u003C\u002Fstrong>\u003Cbr>\u003Cstrong>Reais\u003C\u002Fstrong>\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Ch4>\u003Cstrong>ESPECIFICAÇÃO DA AVALIAÇÃO\u003C\u002Fstrong>\u003C\u002Fh4>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>\u003Cstrong>METODOLOGIA\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>GRAU DE FUNDAMENTAÇÃO\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>GRAU DE PRECISÃO\u003C\u002Fstrong>\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>\u003Cstrong>Renda:\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>Grau I\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>n\u002Fa\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7840\u002F7840.pdf-0005-00.png\">\u003C\u002Fp>\u003Ch3>\u003Cstrong>1. INTRODUÇÃO\u003C\u002Fstrong>\u003C\u002Fh3>\u003Ch4>\u003Cstrong>1.1. OBJETO E ESCOPO DA AVALIAÇÃO\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>\u003Cstrong>BRC RENDA URBANA FUNDO DE INVESTIMENTO IMOBILIÁRIO RESPONSABILIDADE LIMITADA\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>(CNPJ\u002FMF Nº 61.769.663\u002F0001-60), representado por \u003Cstrong>BR CAPITAL\u003C\u002Fstrong> solicitou à \u003Cem>Binswanger\u003C\u002Fem> a avaliação de um shopping center, determinando seu \u003Cstrong>Valor Justo para Venda (\u003C\u002Fstrong> \u003Cstrong>\u003Cem>Fair Value\u003C\u002Fem>)\u003C\u002Fstrong>, na data-base de 05 de junho de 2026, visando a suportar decisões gerenciais.\u003C\u002Fp>\u003Ch4>\u003Cstrong>1.2. CONSIDERAÇÕES INICIAIS\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>Visando a atender ao objetivo solicitado, \u003Cstrong>realizamos vistoria do imóvel\u003C\u002Fstrong>, pesquisa do mercado imobiliário local e cálculo dos valores. Utilizamos, também, informações gerenciais verbais ou escritas, recebidas através da contratante.\u003C\u002Fp>\u003Cp>Todas as dependências as quais foram possíveis o acesso, foram visitadas, entretanto, a inspeção e o levantamento foram predominantemente visuais.\u003C\u002Fp>\u003Ch4>\u003Cstrong>1.3. CONDIÇÕES LIMITANTES\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cul>\u003Cli>\u003Cp>✓ Efetuamos análises e procedimentos por nós considerados adequados, contudo a Binswanger Brazil não se responsabiliza por informações fornecidas por terceiros e não será responsável, sob qualquer hipótese, por quaisquer danos ou perdas resultantes da omissão de informações por parte do contratante ou de terceiros consultados durante o desenvolvimento desta avaliação;\u003C\u002Fp>\u003C\u002Fli>\u003Cli>\u003Cp>✓ Os dados obtidos no mercado imobiliário local foram fornecidos por corretores, imobiliárias e profissionais habilitados, portanto, são premissas aceitas como corretas;\u003C\u002Fp>\u003C\u002Fli>\u003Cli>\u003Cp>✓ Os profissionais envolvidos neste trabalho não têm interesses financeiros nos bens aqui avaliados, caracterizando a sua independência;\u003C\u002Fp>\u003C\u002Fli>\u003Cli>\u003Cp>✓ Os honorários cobrados não têm qualquer relação com os valores aqui avaliados;\u003C\u002Fp>\u003C\u002Fli>\u003Cli>\u003Cp>✓ Esta avaliação considera a propriedade livre e desembaraçada de quaisquer ônus, reclamações e outros comprometimentos legais, e a inexistência de quaisquer problemas relacionados a passivos ambientais, bem como processos de desapropriação ou melhoramentos viários que venham a atingir a área;\u003C\u002Fp>\u003C\u002Fli>\u003C\u002Ful>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7840\u002F7840.pdf-0006-00.png\">\u003C\u002Fp>\u003Cul>\u003Cli>\u003Cp>✓ O objetivo deste trabalho não inclui investigação em documentos e registros da propriedade e não é responsabilidade da Binswanger Brazil, identificar ou corrigir eventuais deficiências na propriedade aqui avaliada, incluindo físicos, financeiros e ou legais. Assumimos que as medidas do imóvel, bem como seus respectivos títulos estejam corretos e registrados em cartório e que a documentação enviada para consulta seja a vigente;\u003C\u002Fp>\u003C\u002Fli>\u003Cli>\u003Cp>✓ Não foram consultados órgãos públicos nos âmbitos Municipal, Estadual ou Federal, quanto à situação legal e fiscal do imóvel perante os mesmos;\u003C\u002Fp>\u003C\u002Fli>\u003Cli>\u003Cp>✓ Não foram efetuadas medições de campo ou pesquisas de passivos ambientais no solo;\u003C\u002Fp>\u003C\u002Fli>\u003Cli>\u003Cp>✓ Não foram analisadas as condições estruturais do imóvel, apenas identificamos e apontamos (se houver) avarias aparentes;\u003C\u002Fp>\u003C\u002Fli>\u003Cli>\u003Cp>✓ Não foram avaliados máquinas e equipamentos, móveis e utensílios, cultivos, semoventes ou quaisquer outros bens móveis que possam existir na propriedade;\u003C\u002Fp>\u003C\u002Fli>\u003Cli>\u003Cp>✓ Os valores encontrados estão fixados em moeda corrente Real (R$) e para a data base de seus cálculos;\u003C\u002Fp>\u003C\u002Fli>\u003Cli>\u003Cp>✓ Essa avaliação não deve ser utilizada para qualquer outra finalidade que não a mencionada no “Sumário Executivo” deste relatório.\u003C\u002Fp>\u003C\u002Fli>\u003Cli>\u003Cp>✓ O valor de avaliação considera que não haverá alteração das condições econômicas e de mercado entre a data de execução e entrega do laudo e a data-base da avaliação, assim como a propriedade se manterá nas condições em que se encontra hoje.\u003C\u002Fp>\u003C\u002Fli>\u003C\u002Ful>\u003Ch4>\u003Cstrong>1.4. EVENTOS SUBSEQUENTES\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>Essa avaliação não reflete qualquer evento que possa ocorrer entre a data-base e a data deste relatório. A BINSWANGER BRAZIL não é obrigada a atualizar os valores deste relatório após a data de emissão.\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7840\u002F7840.pdf-0007-00.png\">\u003C\u002Fp>\u003Ch3>\u003Cstrong>2. DOCUMENTAÇÃO\u003C\u002Fstrong>\u003C\u002Fh3>\u003Cp>Esta avaliação foi embasada nos seguintes documentos recebidos do contratante:\u003C\u002Fp>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>\u003Cstrong>Matrícula\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>Número \u002F Cartório:\u003C\u002Ftd>\u003Ctd>36516 \u002F 10º Cartório de Registro de Imóveis de São Paulo\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Proprietário:\u003C\u002Ftd>\u003Ctd>Abaixo\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003C\u002Ftd>\u003Ctd>Shopping Center Lapa Ltda. - 21,51%\u003Cbr>Cotista A - 15,86%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003C\u002Ftd>\u003Ctd>Cotista B- 13,06%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003C\u002Ftd>\u003Ctd>Cotista B - 9,82%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003C\u002Ftd>\u003Ctd>Cotista C - 7,54%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003C\u002Ftd>\u003Ctd>Cotista D - 7,54%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003C\u002Ftd>\u003Ctd>Cotista E - 4,11%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003C\u002Ftd>\u003Ctd>Cotista F - 3,67%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003C\u002Ftd>\u003Ctd>Cotista G - 3,48%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003C\u002Ftd>\u003Ctd>Cotista H - 3,34%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003C\u002Ftd>\u003Ctd>Cotista I - 3,34%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003C\u002Ftd>\u003Ctd>Cotista J - 3,19%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003C\u002Ftd>\u003Ctd>Cotista K - 1,45%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003C\u002Ftd>\u003Ctd>Cotista L - 1,09%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003C\u002Ftd>\u003Ctd>Cotista M - 0,34%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003C\u002Ftd>\u003Ctd>Cotista N - 0,23%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003C\u002Ftd>\u003Ctd>Cotista O - 0,23%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003C\u002Ftd>\u003Ctd>Cotista P - 0,20%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003C\u002Ftd>\u003Ctd>Cotista Q - 0,01%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003C\u002Ftd>\u003Ctd>Cotista R - 0,00%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Área de Terreno:\u003C\u002Ftd>\u003Ctd>6.403,67 m²\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Área Construída:\u003C\u002Ftd>\u003Ctd>11.200,00 m²\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Área Privativa:\u003C\u002Ftd>\u003Ctd>n\u002Fi\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Nº de Vagas:\u003C\u002Ftd>\u003Ctd>n\u002Fi\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Último ato praticado:\u003C\u002Ftd>\u003Ctd>R. 124 - Compra e Venda - 04\u002F09\u002F2025\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Data da última emissão:\u003C\u002Ftd>\u003Ctd>30\u002F03\u002F2026\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>\u003Cstrong>Rent-Roll\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>ABL (m²)\u003C\u002Ftd>\u003Ctd>8.295,01 m²\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>ABL Ocupada (m²)\u003C\u002Ftd>\u003Ctd>5.838,08 m²\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>ABL Vaga (m²)\u003C\u002Ftd>\u003Ctd>2.456,93 m²\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Nº de Lojas\u003C\u002Ftd>\u003Ctd>90\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Nº de Lojas Ocupadas\u003C\u002Ftd>\u003Ctd>55\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Nº de Lojas Vagas\u003C\u002Ftd>\u003Ctd>35\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7840\u002F7840.pdf-0008-00.png\">\u003C\u002Fp>\u003Cp>EB BRAZIL\u003Cbr>\u003C\u002Fp>\u003Ch3>\u003Cstrong>3. CARACTERIZAÇÃO DA REGIÃO\u003C\u002Fstrong>\u003C\u002Fh3>\u003Ch4>\u003Cstrong>3.1. LOCALIZAÇÃO\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>O mapa a seguir ilustra a localização do imóvel na região:\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7840\u002F7840.pdf-0008-04.png\">\u003C\u002Fp>\u003Cp>\u003Cem>Mapa de Localização do Imóvel\u003C\u002Fem>\u003C\u002Fp>\u003Cp>Como pontos de referência, podemos citar que o imóvel está a cerca de:\u003C\u002Fp>\u003Cul>\u003Cli>\u003Cp>✓ 100 metros da Estação Lapa da CPTM;\u003C\u002Fp>\u003C\u002Fli>\u003Cli>\u003Cp>✓ 200 metros do Mercado Municipal da Lapa;\u003C\u002Fp>\u003C\u002Fli>\u003Cli>\u003Cp>✓ 800 metros do Poupatempo Lapa;\u003C\u002Fp>\u003C\u002Fli>\u003Cli>\u003Cp>✓ 2,1 quilômetros do SESC Pompéia;\u003C\u002Fp>\u003C\u002Fli>\u003Cli>\u003Cp>✓ 2,2 quilômetros do Bourbon Shopping;\u003C\u002Fp>\u003C\u002Fli>\u003Cli>\u003Cp>✓ 2,5 quilômetros do Estádio Nubank Parque.\u003C\u002Fp>\u003C\u002Fli>\u003C\u002Ful>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7840\u002F7840.pdf-0009-00.png\">\u003C\u002Fp>\u003Cp>EB BINSWANGERBRAZIL\u003Cbr>\u003C\u002Fp>\u003Ch4>\u003Cstrong>3.2. ENTORNO\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7840\u002F7840.pdf-0009-02.png\">\u003C\u002Fp>\u003Cp>ENpo é(im VsRiik Fo), N Ny; e:va E |\u003Cbr>reação ; RS K N A\u003Cbr>at a o arara & ED nd valiándo\u003Cbr>7 ps ee. 0 “MPa RS LR\u003Cbr>povo\u003Cbr>abc gca E Dos 4 Midas Me nd Foca E 2)\u003Cbr>gp à a Tagnt Pi! H Ea eEE fed S) E)14 der, heo t ]\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cem>Imagem Satélite\u003C\u002Fem>\u003C\u002Fp>\u003Ch4>\u003Cstrong>3.2.1. Descrição da região, entorno e acessos\u003C\u002Fstrong>\u003C\u002Fh4>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>\u003Cstrong>Uso Predominante Local:\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>Comercial \u002F Prestação de Serviços\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>\u003Cstrong>Densidade de Ocupação:\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>Horizontal - Alta\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Padrão Econômico:\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>Médio-Baixo\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Nível de Acesso:\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>Ótimo\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Intensidade do Tráfego:\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>Intenso\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Área de Preservação:\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>Não\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Polos Valorizantes:\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>Próximo a estação de trem, mercado municipal, Poupatempo e polo comercial\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Polos Desvalorizantes:\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>Região má conservada da cidade\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Vocação:\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>Comercial \u002F Prestação de Serviços \u002F Institucional\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Valorização Imobiliária:\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>Estável\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7840\u002F7840.pdf-0010-00.png\">\u003C\u002Fp>\u003Ch4>\u003Cstrong>3.2.2. Melhoramentos Urbanos e Serviços Comunitários\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>A seguir apresentamos infraestrutura urbana em um alcance de aproximadamente 1km do avaliado:\u003C\u002Fp>\u003Cp> Abastecimento de água  Energia elétrica  Escolas  Cisterna \u002F Poço Artesiano  Iluminação pública  Correio  Esgoto pluvial  Telefone  Posto policial  Esgoto sanitário  Fibra ótica  Serviços médicos Fossa  Arborização  Recreação e lazer  Gás canalizado  Transporte público  Comércio local  Coleta de lixo Aeroporto  Agências Bancárias  Pavimentação Rodoviária  Shopping Center\u003C\u002Fp>\u003Ch4>\u003Cstrong>FOTOS DE ACESSOS\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7840\u002F7840.pdf-0010-05.png\">\u003C\u002Fp>\u003Cp>Rua Joaquim Machado\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7840\u002F7840.pdf-0010-07.png\">\u003C\u002Fp>\u003Cp>Viela Ema Angelo Murat\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7840\u002F7840.pdf-0010-09.png\">\u003C\u002Fp>\u003Cp>Rua Guaicurus\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7840\u002F7840.pdf-0010-11.png\">\u003C\u002Fp>\u003Cp>Rua Catão\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7840\u002F7840.pdf-0011-00.png\">\u003C\u002Fp>\u003Cp>EB sinswançerBRAZIL\u003Cbr>\u003C\u002Fp>\u003Ch4>\u003Cstrong>3.3. USO E OCUPAÇÃO DO SOLO\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>Os parâmetros de zoneamento que incidem sobre o imóvel são relacionados a seguir:\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7840\u002F7840.pdf-0011-03.png\">\u003C\u002Fp>\u003Ch5>\u003Cem>Mapa de Zoneamento\u003C\u002Fem>\u003C\u002Fh5>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>\u003Cstrong>Zoneamento\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003C\u002Fth>\u003Cth>\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>\u003Cstrong>Legislação\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>Lei nº 18.081 de 19 de janeiro de 2024. Dispõe sobre a revisão parcial\u003Cbr>da Lei nº 16.402, de 22 de março de 2016, visando à compatibilização\u003Cbr>de seu texto original com as supervenientes alterações decorrentes da\u003Cbr>promulgação da Lei nº 17.975, de 8 de julho de 2023 – Revisão\u003Cbr>Intermediária do Plano Diretor Estratégico do Município de São Paulo,\u003Cbr>nos termos daprevisão de seu art. 126,e dá outrasprovidências.\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Zona de Uso - Descrição\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>ZEM – Zona Eixo de Estruturação de Transformação Metropolitana\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>T.O. (Taxa de Ocupação)\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>70%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>C.A. (Coeficiente de\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>Básico\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>1,0\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Aproveitamento)\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>Máximo\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>2,0\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Gabarito\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>28 METROS\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Lote Mínimo\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>N\u002FA\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Principais Usos Permitidos\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>Comercial, serviços, residencial e industrial leve\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Principais Usos Vetados\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>Industrial pesado\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>\u003Cstrong>\u003Cem>Nota: as informações acima foram obtidas através de consulta informal ao site e funcionários da Prefeitura. Para obtenção de dados precisos sobre zoneamento, uma consulta formal aos órgãos governamentais pertinentes deverá ser realizada, o que não faz parte do escopo do presente trabalho.\u003C\u002Fem>\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>A presente avaliação trata do imóvel em sua configuração atual, conforme escopo, assumindo que a\u003C\u002Fp>\u003Cp>edificação existente está devidamente regularizada perante órgãos competentes.\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7840\u002F7840.pdf-0012-00.png\">\u003C\u002Fp>\u003Cp>ED\u003Cbr>MD EINS WANÇER\u003Cbr>\u003C\u002Fp>\u003Ch3>\u003Cstrong>4. CARACTERIZAÇÃO DO IMÓVEL\u003C\u002Fstrong>\u003C\u002Fh3>\u003Ch4>\u003Cstrong>4.1. QUADRO DE ÁREAS\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>O quadro de áreas a seguir foi extraído de documentação fornecida pelo cliente:\u003C\u002Fp>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>\u003Cstrong>Documentos\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Área de terreno\u003C\u002Fstrong>\u003Cbr>\u003Cstrong>(m²)\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Área construída\u003C\u002Fstrong>\u003Cbr>\u003Cstrong>(m²)\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Área Bruta Locável\u003C\u002Fstrong>\u003Cbr>\u003Cstrong>(m²)\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Vagas de Garagem\u003C\u002Fstrong>\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>Matrícula\u003C\u002Ftd>\u003Ctd>6.403,67\u003C\u002Ftd>\u003Ctd>11.200,00\u003C\u002Ftd>\u003Ctd>n\u002Fa\u003C\u002Ftd>\u003Ctd>n\u002Fa\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Rent-Roll\u003C\u002Ftd>\u003Ctd>8.295,01\u003C\u002Ftd>\u003Ctd>90,00\u003C\u002Ftd>\u003Ctd>8.295,01\u003C\u002Ftd>\u003Ctd>140\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Adotada em cálculo\u003C\u002Ftd>\u003Ctd>\u003Cstrong>6.403,67\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>11.200,00\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>8.295,01\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>140\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>\u003Cstrong>\u003Cem>n\u002Fi - não informado | n\u002Fa – não aplicável\u003C\u002Fem>\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>Para efeito de cálculo, foi considerada a área bruta locável (ABL), conforme demonstrado abaixo:\u003C\u002Fp>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>\u003Cstrong>LUC\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Loja\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>ABL (m²)\u003C\u002Fstrong>\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>Âncoras\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>3.855,50\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>301\u003C\u002Ftd>\u003Ctd>Grupo Cine\u003C\u002Ftd>\u003Ctd>1.437,85\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>303\u003C\u002Ftd>\u003Ctd>X-Body Academia\u003C\u002Ftd>\u003Ctd>606,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>313-317\u003C\u002Ftd>\u003Ctd>Lojas Americanas\u003C\u002Ftd>\u003Ctd>584,85\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>A01\u003C\u002Ftd>\u003Ctd>Mc Donald S\u003C\u002Ftd>\u003Ctd>400,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>210\u003C\u002Ftd>\u003Ctd>Mc Donald S 2\u003C\u002Ftd>\u003Ctd>82,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>142\u002F151A\u003C\u002Ftd>\u003Ctd>American Shoes\u003C\u002Ftd>\u003Ctd>301,98\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>157-160\u003C\u002Ftd>\u003Ctd>Clínica Partmed \u002F Odontocompan\u003C\u002Ftd>\u003Ctd>273,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>134*\u003C\u002Ftd>\u003Ctd>Burger King\u003C\u002Ftd>\u003Ctd>169,82\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Satélites\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>1.982,58\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>131\u003C\u002Ftd>\u003Ctd>Soccer Destination\u003C\u002Ftd>\u003Ctd>92,50\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>120\u003C\u002Ftd>\u003Ctd>Drogaria Efatá\u003C\u002Ftd>\u003Ctd>87,76\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>215\u002F216\u003C\u002Ftd>\u003Ctd>Mix Presentes\u003C\u002Ftd>\u003Ctd>86,40\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>165\u002F166\u003C\u002Ftd>\u003Ctd>Hering\u003C\u002Ftd>\u003Ctd>84,19\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>149\u003C\u002Ftd>\u003Ctd>Happen\u003C\u002Ftd>\u003Ctd>71,48\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>134\u003C\u002Ftd>\u003Ctd>Key Outlet\u003C\u002Ftd>\u003Ctd>70,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>119\u003C\u002Ftd>\u003Ctd>Menina Marota\u003C\u002Ftd>\u003Ctd>62,16\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>167\u003C\u002Ftd>\u003Ctd>Dona Chic\u003C\u002Ftd>\u003Ctd>60,71\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>A24\u003C\u002Ftd>\u003Ctd>Divino Fogão\u003C\u002Ftd>\u003Ctd>60,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>104A\u003C\u002Ftd>\u003Ctd>Desbravadores\u003C\u002Ftd>\u003Ctd>56,77\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>146\u003C\u002Ftd>\u003Ctd>C7 Empório\u003C\u002Ftd>\u003Ctd>52,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>A21\u003C\u002Ftd>\u003Ctd>Giraffa S\u003C\u002Ftd>\u003Ctd>51,80\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>117A\u003C\u002Ftd>\u003Ctd>Subway\u003C\u002Ftd>\u003Ctd>50,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>117\u003C\u002Ftd>\u003Ctd>Center Cabeleireiros\u003C\u002Ftd>\u003Ctd>47,50\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>115\u003C\u002Ftd>\u003Ctd>Claro\u003C\u002Ftd>\u003Ctd>47,50\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>108\u003C\u002Ftd>\u003Ctd>Espaço Laser\u003C\u002Ftd>\u003Ctd>47,50\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>116\u003C\u002Ftd>\u003Ctd>Fotobril\u003C\u002Ftd>\u003Ctd>47,50\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>110\u003C\u002Ftd>\u003Ctd>Que Pasa Tattoo\u003C\u002Ftd>\u003Ctd>47,50\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>111\u003C\u002Ftd>\u003Ctd>Vivo\u003C\u002Ftd>\u003Ctd>47,50\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7840\u002F7840.pdf-0013-00.png\">\u003C\u002Fp>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>\u003Cstrong>LUC\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Loja\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>ABL (m²)\u003C\u002Fstrong>\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>141\u003C\u002Ftd>\u003Ctd>Jok S\u003C\u002Ftd>\u003Ctd>43,82\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>107\u003C\u002Ftd>\u003Ctd>Pink Concept\u003C\u002Ftd>\u003Ctd>43,75\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>121\u003C\u002Ftd>\u003Ctd>A Suissa\u003C\u002Ftd>\u003Ctd>43,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>219\u003C\u002Ftd>\u003Ctd>O Boticário\u003C\u002Ftd>\u003Ctd>43,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>214\u003C\u002Ftd>\u003Ctd>Gataka\u003C\u002Ftd>\u003Ctd>40,75\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>220\u003C\u002Ftd>\u003Ctd>Oficio Do Couro\u003C\u002Ftd>\u003Ctd>40,75\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>152\u003C\u002Ftd>\u003Ctd>Techsmart\u003C\u002Ftd>\u003Ctd>40,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>153\u003C\u002Ftd>\u003Ctd>Manu Baby\u003C\u002Ftd>\u003Ctd>39,50\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>161\u003C\u002Ftd>\u003Ctd>Estácio\u003C\u002Ftd>\u003Ctd>39,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>106A\u003C\u002Ftd>\u003Ctd>Luson\u003C\u002Ftd>\u003Ctd>36,48\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>102\u003C\u002Ftd>\u003Ctd>Ápice Das Sobrancelhas\u003C\u002Ftd>\u003Ctd>32,20\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>138\u003C\u002Ftd>\u003Ctd>Relojoaria Omega\u003C\u002Ftd>\u003Ctd>30,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>103\u003C\u002Ftd>\u003Ctd>Duck Go\u003C\u002Ftd>\u003Ctd>28,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>147\u003C\u002Ftd>\u003Ctd>Cacau Show\u003C\u002Ftd>\u003Ctd>27,50\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>144\u003C\u002Ftd>\u003Ctd>Le Blanc\u003C\u002Ftd>\u003Ctd>26,70\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>122A\u003C\u002Ftd>\u003Ctd>Good Cup\u003C\u002Ftd>\u003Ctd>23,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>122\u003C\u002Ftd>\u003Ctd>Grão Espresso\u003C\u002Ftd>\u003Ctd>23,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>A11\u003C\u002Ftd>\u003Ctd>Churras Express\u003C\u002Ftd>\u003Ctd>22,75\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>154\u003C\u002Ftd>\u003Ctd>Sabor Expresso\u003C\u002Ftd>\u003Ctd>22,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>118\u003C\u002Ftd>\u003Ctd>Score Perfumaria\u003C\u002Ftd>\u003Ctd>22,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>231\u003C\u002Ftd>\u003Ctd>Nastari Presentes\u003C\u002Ftd>\u003Ctd>21,60\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>229\u003C\u002Ftd>\u003Ctd>Faster Câmbio\u003C\u002Ftd>\u003Ctd>20,80\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>227\u003C\u002Ftd>\u003Ctd>Indextour\u003C\u002Ftd>\u003Ctd>20,80\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>155\u003C\u002Ftd>\u003Ctd>Tim\u003C\u002Ftd>\u003Ctd>20,66\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>230\u003C\u002Ftd>\u003Ctd>Ahroma\u003C\u002Ftd>\u003Ctd>20,20\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>L01\u003C\u002Ftd>\u003Ctd>Lotérica\u003C\u002Ftd>\u003Ctd>18,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>A15\u003C\u002Ftd>\u003Ctd>Cantinho Do Chopp\u003C\u002Ftd>\u003Ctd>14,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>105\u003C\u002Ftd>\u003Ctd>Info&Cell\u003C\u002Ftd>\u003Ctd>8,55\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Lojas Vagas\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>2.456,93\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Total\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>8.295,01\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>Distribuição das lojas por classificação:\u003C\u002Fp>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>\u003Cstrong>Classificação\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>ABL (m²)\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Nº de Lojas\u003C\u002Fstrong>\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>\u003Cstrong>Âncora\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>3.855,50\u003C\u002Ftd>\u003Ctd>8\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Satélite\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>1.982,58\u003C\u002Ftd>\u003Ctd>47\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Loja Vaga\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>2.456,93\u003C\u002Ftd>\u003Ctd>35\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Total\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>8.295,01\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>90\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7840\u002F7840.pdf-0014-00.png\">\u003C\u002Fp>\u003Cp>ED\u003Cbr>EB BINSWANGER\u003Cbr>\u003C\u002Fp>\u003Ch4>\u003Cstrong>4.2. DESCRIÇÃO DO IMÓVEL\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>Trata-se de um shopping center com subsolo, térreo e 2 pavimentos. O empreendimento recentemente iniciou um plano de estruturação para ocupar as lojas vagas, alavancar receitas e otimizar a operação.\u003C\u002Fp>\u003Ch4>\u003Cstrong>4.2.1. Terreno\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7840\u002F7840.pdf-0014-04.png\">\u003C\u002Fp>\u003Cp>\u003Cem>Delimitação do Terreno\u003C\u002Fem>\u003C\u002Fp>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>\u003Cstrong>CARACTERÍSTICAS DO TERRE\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>NO\u003C\u002Fstrong>\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>\u003Cstrong>Testada Principal\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>65 metros – Rua Guaicurus\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Formato\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>Irregular\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Quantidade de Frentes\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>4\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Superfície \u002F Consistência\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>Seca\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Topografia\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>Plana\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Situação\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>No nível da rua\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Delimitação \u002F Fechamento\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>Delimitado por muro de alvenaria\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7840\u002F7840.pdf-0015-00.png\">\u003C\u002Fp>\u003Ch4>\u003Cstrong>4.2.2. Construção\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7840\u002F7840.pdf-0015-02.png\">\u003C\u002Fp>\u003Ch5>\u003Cem>Fachada do Imóvel\u003C\u002Fem>\u003C\u002Fh5>\u003Ch6>\u003Cstrong>CARACTERÍSTICAS DA CONSTRUÇÃO\u003C\u002Fstrong>\u003C\u002Fh6>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>\u003Cstrong>Posicionamento no Terreno\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>Recuada do alinhamento da via e alinhado às divisas laterais e de fundo\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>\u003Cstrong>Nº de Pavimentos\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>4 Pavimentos: SS + Térreo + 2 Pvtos tipo\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Pé Direito\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>4,00 metros\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Estrutura\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>Concreto armado\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Cobertura\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>Telha metálica\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Estrutura da Cobertura\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>Concreto armado\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Fechamento\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>Alvenaria\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Fachada\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>Textura\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Esquadrias e Vidros\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>Alumínio\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003C\u002Ftd>\u003Ctd>Vidro temperado\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Estado de Conservação\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>Regular (C)\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Vícios de Construção\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>Não detectados visualmente\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Condição Geral das Instalações\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>Regular\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Idade Estimada\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>20 anos\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Vida Útil Remanescente\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>40 anos\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7840\u002F7840.pdf-0016-00.png\">\u003C\u002Fp>\u003Cp>EB\u003Cbr>EB BINSWANGER\u003Cbr>\u003C\u002Fp>\u003Ch4>\u003Cstrong>4.2.3. Reportagem Fotográfica\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7840\u002F7840.pdf-0016-02.png\">\u003C\u002Fp>\u003Cp>p=\u003Cbr>\u003C\u002Fp>\u003Cp>Acesso de veículos\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7840\u002F7840.pdf-0016-04.png\">\u003C\u002Fp>\u003Cp>Marquise\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7840\u002F7840.pdf-0016-06.png\">\u003C\u002Fp>\u003Cp>Mall\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7840\u002F7840.pdf-0016-08.png\">\u003C\u002Fp>\u003Cp>Elevador\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7840\u002F7840.pdf-0016-10.png\">\u003C\u002Fp>\u003Cp>Estacionamento\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7840\u002F7840.pdf-0016-12.png\">\u003C\u002Fp>\u003Cp>Mall\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7840\u002F7840.pdf-0016-14.png\">\u003C\u002Fp>\u003Cp>Mall\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7840\u002F7840.pdf-0016-16.png\">\u003C\u002Fp>\u003Cp>Escadas rolantes\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7840\u002F7840.pdf-0017-00.png\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7840\u002F7840.pdf-0017-01.png\">\u003C\u002Fp>\u003Cp>Praça de alimentação\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7840\u002F7840.pdf-0017-03.png\">\u003C\u002Fp>\u003Cp>Ala vaga\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7840\u002F7840.pdf-0017-05.png\">\u003C\u002Fp>\u003Cp>Lojas americanas\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7840\u002F7840.pdf-0017-07.png\">\u003C\u002Fp>\u003Cp>Administração\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7840\u002F7840.pdf-0017-09.png\">\u003C\u002Fp>\u003Cp>Academia\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7840\u002F7840.pdf-0017-11.png\">\u003C\u002Fp>\u003Cp>Ala vaga\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7840\u002F7840.pdf-0017-13.png\">\u003C\u002Fp>\u003Cp>Sanitário\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7840\u002F7840.pdf-0017-15.png\">\u003C\u002Fp>\u003Cp>Cobertura\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7840\u002F7840.pdf-0018-00.png\">\u003C\u002Fp>\u003Cp>ED\u003Cbr>MD EINS WANÇER\u003Cbr>\u003C\u002Fp>\u003Ch3>\u003Cstrong>5. MERCADO IMOBILIÁRIO NA REGIÃO\u003C\u002Fstrong>\u003C\u002Fh3>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>\u003Cstrong>Dados Gerais do Municípi\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>o\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Referências\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>\u003Cstrong>São Paulo \u002F SP\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>Capital do Estado\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>Brasil (média)\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>**Área Territorial **[2020]\u003C\u002Ftd>\u003Ctd>1.521,11 km²\u003C\u002Ftd>\u003Ctd>1.521,11 km²\u003C\u002Ftd>\u003Ctd>1.525,54 km²\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>População\u003C\u002Fstrong>[2022]\u003C\u002Ftd>\u003Ctd>12.200.180 hab.\u003C\u002Ftd>\u003Ctd>12.200.180 hab.\u003C\u002Ftd>\u003Ctd>37.298 hab.\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>PIB (R$ mil)\u003C\u002Fstrong>[2018]\u003C\u002Ftd>\u003Ctd>R$ 714.683.362,46\u003C\u002Ftd>\u003Ctd>R$ 714.683.362,46\u003C\u002Ftd>\u003Ctd>R$ 1.257.475,94\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>PIB per Capita\u003C\u002Fstrong> [2018]\u003C\u002Ftd>\u003Ctd>R$ 58.691,90\u003C\u002Ftd>\u003Ctd>R$ 58.691,90\u003C\u002Ftd>\u003Ctd>R$ 23.513,94\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>IDH\u003C\u002Fstrong>[2010]\u003C\u002Ftd>\u003Ctd>0,805\u003C\u002Ftd>\u003Ctd>0,805\u003C\u002Ftd>\u003Ctd>0,659\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>(Fonte: IBGE)\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Características Gerais do\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>Mercado\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>Liquidez do Imóvel\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Oferta\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>Média\u003C\u002Ftd>\u003Ctd>\u003Cstrong>Para Locação\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>Média\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Demanda\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>Alta\u003C\u002Ftd>\u003Ctd>\u003Cstrong>Para Venda\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>Baixa\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Risco de Invasão\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>Baixo\u003C\u002Ftd>\u003Ctd>\u003Cstrong>Vocação\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>Comercial\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Análise de SWOT\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Pontos Fortes:\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>Pontos Fracos:\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cul>\u003Cli>\u003Cp>✓ Próximo a diversas ofertas de transporte público ✓ Alta vacância; e comércio. ✓ Região má conservada da cidade.\u003C\u002Fp>\u003C\u002Fli>\u003Cli>\u003Cp>\u003Cstrong>Oportunidades: Ameaças:\u003C\u002Fstrong> ✓ Alto potencial de recuperação, utilizando as ✓ Concorrência com comércio local e Bourbon potencialidades da localização e fluxo alto de Shopping. pessoas para atrair lojistas.\u003C\u002Fp>\u003C\u002Fli>\u003C\u002Ful>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7840\u002F7840.pdf-0019-00.png\">\u003C\u002Fp>\u003Cp>ED\u003Cbr>MD EINS WANÇER\u003Cbr>\u003C\u002Fp>\u003Ch4>\u003Cstrong>5.1. SHOPPING CENTERS\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>De acordo com a Associação Brasileira de \u003Cem>Shopping Center\u003C\u002Fem> (ABRASCE), \u003Cem>shopping centers\u003C\u002Fem> são empreendimentos com Área Bruta Locável (ABL) superior a 5 mil metros quadrados, formados por diversas unidades comerciais, com administração única e centralizada, que praticam aluguel fixo e percentual. Na maioria das vezes, dispõe de lojas âncoras e vagas de estacionamento compatíveis com a legislação da região onde está instalado.\u003C\u002Fp>\u003Cp>Os \u003Cem>shopping centers\u003C\u002Fem> são classificados em Tradicionais e Especializados. Os especializados ainda são subdivididos em \u003Cem>Outlets: shoppings\u003C\u002Fem> com lojas de fábrica e\u002Fou descontos; Temáticos: \u003Cem>shoppings\u003C\u002Fem> especializados em determinado segmento de varejo e \u003Cem>Lifestyle\u003C\u002Fem>: \u003Cem>shoppings\u003C\u002Fem> a céu aberto, como comércio de rua, com calçadões, praças e ventilação natural.\u003C\u002Fp>\u003Cp>Dentro dessas tipologias, são classificados em função de sua ABL:\u003C\u002Fp>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>\u003Cstrong>Classificação\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Porte\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>ABL\u003C\u002Fstrong>\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>\u003C\u002Ftd>\u003Ctd>Mega\u003C\u002Ftd>\u003Ctd>Acima de 60.000 m²\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Tradicional\u003C\u002Ftd>\u003Ctd>Regional\u003C\u002Ftd>\u003Ctd>De 30.000 a 59.999 m²\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003C\u002Ftd>\u003Ctd>Médio\u003C\u002Ftd>\u003Ctd>De 20.000 a 29.999 m²\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003C\u002Ftd>\u003Ctd>Pequeno\u003C\u002Ftd>\u003Ctd>Até 19.999 m²\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003C\u002Ftd>\u003Ctd>Grandes\u003C\u002Ftd>\u003Ctd>Acima de 20.000 m²\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Especializado\u003C\u002Ftd>\u003Ctd>Médios\u003C\u002Ftd>\u003Ctd>De 10.000 a 19.999 m²\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003C\u002Ftd>\u003Ctd>Pequenos\u003C\u002Ftd>\u003Ctd>Até 9.999 m²\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Ch4>\u003Cstrong>5.1.1. Considerações Gerais\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>O mercado de shopping centers brasileiro apresentou um 2025 sólido, seguindo a consolidação de 2024, após dois anos de recuperação da pandemia de COVID-19 em 2020 e 2021. Os indicadores seguem crescendo, com o quinto ano seguido de recorde histórico em faturamento e números muito próximos ao máximo histórico em indicadores chave: fluxo de visitantes mensal e número de empregos.\u003C\u002Fp>\u003Cp>Em um cenário macro de alta de juros, o recorde em faturamento e o fluxo de visitantes em 471 milhões por mês, 94% da máxima histórica em 2019, atestam a resiliência do segmento, que segue com papel central na sociedade Brasileira, mesmo com a mudança de paradigma de consumo com a explosão do \u003Cem>e-commerce\u003C\u002Fem> no país.\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7840\u002F7840.pdf-0020-00.png\">\u003C\u002Fp>\u003Ch4>\u003Cstrong>5.1.2. números do setor\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>Atualmente, o país conta com aproximadamente 658 shopping centers em operação – 18,311 milhões de metros quadrados de área bruta locável.\u003C\u002Fp>\u003Cp>|\u003Cstrong>Quadro Geral de Shoppings | 2026\u003C\u002Fstrong>|| |---|---| |Total de Shoppings:|658| |A inaugurar em 2026:|11| |Total de Shoppings no fim de 2026:|669| |Faturamento (bilhões):|200,9| |Visitantes\u002Fmês (milhões):|471,0| |Empregos gerados:|1.082.000| |ABL Total no Brasil (m²):|18.311.277| |Total de Lojas:|124.000| |Sendo,|| |Âncoras:|4,1%| |Semi-âncoras:|3,3%| |Megalojas:|4,2%| |Satélites:|55,8%| |Conveniência\u002FServiços:|11,0%| |Alimentação:|19,1%| |Lazer|2,5%| |Salas de Cinema:|3.091| |Vagas para Carros:|1.071.000|\u003C\u002Fp>\u003Cp>\u003Cem>Fonte: Censo da ABRASCE 2025\u002F2026, editado por Binswanger Brazil.\u003C\u002Fem>\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7840\u002F7840.pdf-0021-00.png\">\u003C\u002Fp>\u003Cp>ED, NswancER\u003Cbr>EB BRAZIL\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7840\u002F7840.pdf-0021-01.png\">\u003C\u002Fp>\u003Cp>Número de Shoppings\u003Cbr>700 28 639 648 6sg\u003Cbr>573 563 577\u003Cbr>600 538 558 so ps\u003Cbr>500\u003Cbr>400\u003Cbr>300\u003Cbr>200\u003Cbr>100\u003Cbr>[o\u003Cbr>2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cem>Fonte: ABRASCE - Editado por Binswanger Brazil – abr\u002F2026\u003C\u002Fem>\u003C\u002Fp>\u003Cp>Em 2025, foram inaugurados 10 shoppings no país, sendo apenas 3 em capitais: Brasília, Porto Alegre e Curitiba. Observa-se um movimento em curso de expansão do mercado para cidades de menor porte, onde ainda não exista um centro comercial de médio ou grande porte. Nos últimos dois anos, foram inaugurados empreendimentos com ABL acima de 10 mil m² nas cidade de Boituva\u002FSP, Rio das Ostras\u002FRJ, Araucária\u002FPR, Araguaína\u002FTO, Cravinhos\u002FSP, Vilhena\u002FRO, Serra\u002FES e Ponta Grossa\u002FPR.\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7840\u002F7840.pdf-0021-04.png\">\u003C\u002Fp>\u003Cp>\u003Cem>Fonte: ABRASCE - Editado por Binswanger Brazil – abr\u002F2026\u003C\u002Fem>\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7840\u002F7840.pdf-0022-00.png\">\u003C\u002Fp>\u003Cp>EB BRAZIL\u003Cbr>\u003C\u002Fp>\u003Cp>Abaixo, apresentamos os números por região.\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7840\u002F7840.pdf-0022-02.png\">\u003C\u002Fp>\u003Cp>ABL por Região (M?)\u003Cbr>Norte\u003Cbr>950.705\u003Cbr>Centro-Oeste 5%\u003Cbr>1.656.2909%\u003Cbr>Nordeste\u003Cbr>3.334.879 sudeste\u003Cbr>pe 9.681.982\u003Cbr>53%\u003Cbr>sul\u003Cbr>2687420\u003Cbr>15%\u003Cbr>= Sudeste ='Sul =\u002FNordeste '= Centro-Oeste = Norte\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7840\u002F7840.pdf-0022-03.png\">\u003C\u002Fp>\u003Cp>\u003Cem>Fonte: ABRASCE - Editado por Binswanger Brazil – abr\u002F2026\u003C\u002Fem>\u003C\u002Fp>\u003Cp>Nota-se que o Sudeste possui aproximadamente 52,87% da área bruta locável total do país, com o Nordeste em segundo lugar com 18,21% da área bruta locável total. Com relação à quantidade de empreendimentos em operação, o Sudeste mais uma vez ocupa a primeira colocação, com 332 shoppings ativos; mas a segunda posição é ocupada pela região Sul, com um total de 112 empreendimentos. O Nordeste, nesse aspecto, está em terceiro, com 110 ativos.\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7840\u002F7840.pdf-0022-06.png\">\u003C\u002Fp>\u003Cp>\u003Cem>Fonte: ABRASCE - Editado por Binswanger Brazil – abr\u002F2026\u003C\u002Fem>\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7840\u002F7840.pdf-0023-00.png\">\u003C\u002Fp>\u003Cp>ED, NswancER\u003Cbr>EB BRAZIL\u003Cbr>\u003C\u002Fp>\u003Cp>O resultado das restrições impostas desde março de 2020, segundo a ABRASCE (Associação Brasileira de Shopping Centers), foi uma queda de faturamento em vendas de 49,7% e de 10,3% de empregos de 2019 para 2020. Nesse sentido, no entanto, observamos uma rápida recuperação nos anos de 2021 e 2022 e o resultado de 2019 foi superado já em 2023. Desde então, o número segue a tendência de crescimento.\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7840\u002F7840.pdf-0023-02.png\">\u003C\u002Fp>\u003Cp>Faturamento Anual\u003Cbr>240\u003Cbr>q\u003Cbr>E\u003Cbr>É\u003Cbr>B 200 193 192 195 198 201\u003Cbr>179\u003Cbr>168\u003Cbr>10 152 158 159\u003Cbr>129\u003Cbr>120\u003Cbr>80\u003Cbr>40\u003Cbr>[o\u003Cbr>2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025\u003Cbr>\u003C\u002Fp>\u003Cp>\u002F>\u003C\u002Fp>\u003Cp>O fluxo de visitantes ainda não retornou ao patamar de 2019, consequência não só dos impactos da pandemia, que atualmente já está integralmente superada, mas principalmente do crescimento do \u003Cem>ecommerce\u003C\u002Fem> no país, que alterou o padrão de consumo do brasileiro. A resiliência no setor, no entanto, reside no fato de que, além de \u003Cem>marketplace\u003C\u002Fem>, o shopping center representa também um programa de lazer para a família brasileira.\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7840\u002F7840.pdf-0024-00.png\">\u003C\u002Fp>\u003Cp>ED, NswancER\u003Cbr>EB BRAZIL\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7840\u002F7840.pdf-0024-01.png\">\u003C\u002Fp>\u003Cp>Visitantes\u002Fmês\u003Cbr>600\u003Cbr>qg\u003Cbr>EEE 490 502\u003Cbr>3 500 463 102 6 am\u003Cbr>sas 438 443\u003Cbr>397\u003Cbr>400\u003Cbr>341\u003Cbr>300\u003Cbr>200\u003Cbr>100\u003Cbr>[o\u003Cbr>2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cem>Fonte: ABRASCE - Editado por Binswanger Brazil – mar\u002F2025\u003C\u002Fem>\u003C\u002Fp>\u003Cp>Em resposta à expansão das compras on-line, observa-se uma transformação dos shopping centers em \u003Cem>hubs\u003C\u002Fem> de convivência, com novas ofertas de experiências e serviços distintos: alamedas gourmet, centros médicos, academias, novas opções de lazer e integração com centros empresariais, residenciais e clubes. A ideia é ofertar algo para além do varejo tradicional, expandir o fluxo nos empreendimentos e a consequente exposição dos inquilinos a potenciais consumidores.\u003C\u002Fp>\u003Cp>De acordo com a ABRASCE, já se observa integração com complexos multiuso em 35% dos shopping centers ativos no país. Observa-se também o crescimento na proporção de shoppings especializados, de 13,8% do total em 2024 para 16,0% em 2025. Dentre esses, 65,5% são \u003Cem>Lifestyle\u002FOpen Malls\u003C\u002Fem>, 17,7% são \u003Cem>Outlets\u003C\u002Fem>, e 16,8% são shoppings temáticos.\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7840\u002F7840.pdf-0025-00.png\">\u003C\u002Fp>\u003Cp>EB BINSWANGER\u003Cbr>EB BRAZIL\u003Cbr>\u003C\u002Fp>\u003Cp>Os empregos ainda seguem abaixo do patamar de 2019, mas seguem em sólida tendência de crescimento, na medida que o número de empreendimentos aumenta.\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7840\u002F7840.pdf-0025-02.png\">\u003C\u002Fp>\u003Cp>Empregos\u003Cbr>1.120\u003Cbr>à8 1.102\u003Cbr>£ 1.100\u003Cbr>E 1.085 1.082\u003Cbr>E 1080 1.073\u003Cbr>1.063\u003Cbr>1.060\u003Cbr>1.044\u003Cbr>1.040 1.029\u003Cbr>1.020\u003Cbr>1020 1.016\u003Cbr>999\u003Cbr>1000 990\u003Cbr>980\u003Cbr>960\u003Cbr>940\u003Cbr>920\u003Cbr>2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cem>Fonte: ABRASCE - Editado por Binswanger Brazil – abr\u002F2026\u003C\u002Fem>\u003C\u002Fp>\u003Ch4>\u003Cstrong>5.1.3. Novo estoque\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>Em 2025, foram inaugurados 10 shoppings no Brasil: 4 na região sul, 2 no sudeste, 2 no centro-oeste, 1 no nordeste e 1 no norte, totalizando 143,7 mil m² de ABL, e em 2026, estão previstas 11 inaugurações, totalizando 193,2 mil m² de ABL, conforme tabelas abaixo:\u003C\u002Fp>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>\u003Cstrong>Inaugurados - 2025\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003C\u002Fth>\u003Cth>\u003C\u002Fth>\u003Cth>\u003C\u002Fth>\u003Cth>\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>\u003Cstrong>Shopping\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>Estado\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>Cidade\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>ABL (m²)\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>Inauguração\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Singapura Shopping\u003C\u002Ftd>\u003Ctd>Goiás\u003C\u002Ftd>\u003Ctd>Caldas Novas\u003C\u002Ftd>\u003Ctd>8.422\u003C\u002Ftd>\u003Ctd>30\u002F01\u002F2025\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Jardins de Vilhena Shopping\u003C\u002Ftd>\u003Ctd>Rondônia\u003C\u002Ftd>\u003Ctd>Vilhena\u003C\u002Ftd>\u003Ctd>16.500\u003C\u002Ftd>\u003Ctd>12\u002F03\u002F2025\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Pulse Open Mall\u003C\u002Ftd>\u003Ctd>Santa Catarina\u003C\u002Ftd>\u003Ctd>Chapecó\u003C\u002Ftd>\u003Ctd>8.000\u003C\u002Ftd>\u003Ctd>24\u002F09\u002F2025\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Shopping Busca Vida\u003C\u002Ftd>\u003Ctd>Bahia\u003C\u002Ftd>\u003Ctd>Camaçari\u003C\u002Ftd>\u003Ctd>6.442\u003C\u002Ftd>\u003Ctd>10\u002F10\u002F2025\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Flow Open Mall\u003C\u002Ftd>\u003Ctd>Paraná\u003C\u002Ftd>\u003Ctd>Curitiba\u003C\u002Ftd>\u003Ctd>11.000\u003C\u002Ftd>\u003Ctd>15\u002F10\u002F2025\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Americana Shopping\u003C\u002Ftd>\u003Ctd>São Paulo\u003C\u002Ftd>\u003Ctd>Americana\u003C\u002Ftd>\u003Ctd>28.000\u003C\u002Ftd>\u003Ctd>30\u002F10\u002F2025\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Bourbon Carlos Gomes\u003C\u002Ftd>\u003Ctd>Rio Grande do Sul\u003C\u002Ftd>\u003Ctd>Porto Alegre\u003C\u002Ftd>\u003Ctd>12.385\u003C\u002Ftd>\u003Ctd>30\u002F10\u002F2025\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Shopping Aldeia da Serra\u003C\u002Ftd>\u003Ctd>Espírito Santo\u003C\u002Ftd>\u003Ctd>Serra\u003C\u002Ftd>\u003Ctd>18.000\u003C\u002Ftd>\u003Ctd>01\u002F11\u002F2025\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Manhattan Shopping\u003C\u002Ftd>\u003Ctd>Distrito Federal\u003C\u002Ftd>\u003Ctd>Brasília\u003C\u002Ftd>\u003Ctd>8.000\u003C\u002Ftd>\u003Ctd>01\u002F11\u002F2025\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Plaza Campos Gerais\u003C\u002Ftd>\u003Ctd>Paraná\u003C\u002Ftd>\u003Ctd>Ponta Grossa\u003C\u002Ftd>\u003Ctd>27.000\u003C\u002Ftd>\u003Ctd>11\u002F12\u002F2025\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7840\u002F7840.pdf-0026-00.png\">\u003C\u002Fp>\u003Cp>ED\u003Cbr>MD EINS WANÇER\u003Cbr>\u003C\u002Fp>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>\u003Cstrong>A Inaugurar – 2026\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003C\u002Fth>\u003Cth>\u003C\u002Fth>\u003Cth>\u003C\u002Fth>\u003Cth>\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>\u003Cstrong>Shopping\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>Estado\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>Cidade\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>ABL (m²)\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>Inauguração\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Shopping Praia Sul\u003C\u002Ftd>\u003Ctd>Sergipe\u003C\u002Ftd>\u003Ctd>Aracaju\u003C\u002Ftd>\u003Ctd>32.000\u003C\u002Ftd>\u003Ctd>Março de 2026\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Praça Pitiguari\u003C\u002Ftd>\u003Ctd>São Paulo\u003C\u002Ftd>\u003Ctd>Atibaia\u003C\u002Ftd>\u003Ctd>6.596\u003C\u002Ftd>\u003Ctd>Março de 2026\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Shopping Cidade da Serra\u003C\u002Ftd>\u003Ctd>Minas Gerais\u003C\u002Ftd>\u003Ctd>Lavras\u003C\u002Ftd>\u003Ctd>16.800\u003C\u002Ftd>\u003Ctd>Março de 2026\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Centrosul Shopping\u003C\u002Ftd>\u003Ctd>Sergipe\u003C\u002Ftd>\u003Ctd>Lagarto\u003C\u002Ftd>\u003Ctd>23.345\u003C\u002Ftd>\u003Ctd>Abril de 2026\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Partage Brasília\u003C\u002Ftd>\u003Ctd>Distrito Federal\u003C\u002Ftd>\u003Ctd>Brasília\u003C\u002Ftd>\u003Ctd>37.742\u003C\u002Ftd>\u003Ctd>Abril de 2026\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Espaço 356\u003C\u002Ftd>\u003Ctd>Minas Gerais\u003C\u002Ftd>\u003Ctd>Belo Horizonte\u003C\u002Ftd>\u003Ctd>13.900\u003C\u002Ftd>\u003Ctd>Abril de 2026\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>NV Boulevard\u003C\u002Ftd>\u003Ctd>Minas Gerais\u003C\u002Ftd>\u003Ctd>Uberlândia\u003C\u002Ftd>\u003Ctd>12.000\u003C\u002Ftd>\u003Ctd>Primeiro Semestre de 2026\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Shopping Parque Oeste\u003C\u002Ftd>\u003Ctd>Bahia\u003C\u002Ftd>\u003Ctd>Luis Eduardo\u003Cbr>Magalhães\u003C\u002Ftd>\u003Ctd>13.000\u003C\u002Ftd>\u003Ctd>Setembro de 2026\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Norte Paraná Prime Outlet\u003C\u002Ftd>\u003Ctd>Paraná\u003C\u002Ftd>\u003Ctd>Londrina\u003C\u002Ftd>\u003Ctd>18.000\u003C\u002Ftd>\u003Ctd>Outubro de 2026\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Plaza Santa Cruz\u003C\u002Ftd>\u003Ctd>Rio de Janeiro\u003C\u002Ftd>\u003Ctd>Rio de Janeiro\u003C\u002Ftd>\u003Ctd>12.563\u003C\u002Ftd>\u003Ctd>Outubro de 2026\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Boulevard Marília Shopping\u003C\u002Ftd>\u003Ctd>São Paulo\u003C\u002Ftd>\u003Ctd>Marília\u003C\u002Ftd>\u003Ctd>7.238\u003C\u002Ftd>\u003Ctd>2026\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>\u003Cem>Fonte: ABRASCE - Editado por Binswanger Brazil – abr\u002F2026\u003C\u002Fem>\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7840\u002F7840.pdf-0027-00.png\">\u003C\u002Fp>\u003Cp>EB BINSWANGERBRAZIL\u003Cbr>\u003C\u002Fp>\u003Ch4>\u003Cstrong>5.1.4. Taxa de capitalização – Cap Rate\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>O gráfico e quadros a seguir apresentam as transações realizadas nos últimos 24 meses. Nota-se que o Cap Rate estabilizado\u003Csup>1\u003C\u002Fsup> médio para este tipo de empreendimento é 7,97%, no entanto, muitas transações não divulgaram o cap rate considerado:\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7840\u002F7840.pdf-0027-03.png\">\u003C\u002Fp>\u003Cp>\u003Cem>Fonte: Binswanger - Editado por Binswanger Brazil – abr\u002F2026\u003C\u002Fem>\u003C\u002Fp>\u003Cblockquote>\u003Cp>1 Considera-se a receita de aluguel gerada em uma base estabilizada, dividida pelo preço de compra menos qualquer aluguel abaixo do mercado, ou qualquer preço de custo para estabilizar (melhorias do inquilino, carência, comissões de aluguel ou melhorias de capital.\u003C\u002Fp>\u003C\u002Fblockquote>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7840\u002F7840.pdf-0028-00.png\">\u003C\u002Fp>\u003Cp>ED\u003Cbr>MD EINS WANÇER\u003Cbr>\u003C\u002Fp>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>\u003Cstrong>Imóvel\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Estado\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Cidade\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Data da Transação\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Cap Rate\u003C\u002Fstrong>\u003Cbr>\u003Cstrong>(Estabilizado)(%)\u003C\u002Fstrong>\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>ParkShoppingJacarepaguá\u003C\u002Ftd>\u003Ctd>Rio de Janeiro\u003C\u002Ftd>\u003Ctd>Rio de Janeiro\u003C\u002Ftd>\u003Ctd>02\u002F04\u002F24\u003C\u002Ftd>\u003Ctd>\u003Cbr>8,59%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>ShoppingJardim Sul\u003C\u002Ftd>\u003Ctd>São Paulo\u003C\u002Ftd>\u003Ctd>São Paulo\u003C\u002Ftd>\u003Ctd>04\u002F04\u002F24\u003C\u002Ftd>\u003Ctd>8,90%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>ShoppingVillagio Caxias do Sul\u003C\u002Ftd>\u003Ctd>Rio Grande do Sul\u003C\u002Ftd>\u003Ctd>Caxias do Sul\u003C\u002Ftd>\u003Ctd>16\u002F04\u002F24\u003C\u002Ftd>\u003Ctd>8,00%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Carioca Shopping\u003C\u002Ftd>\u003Ctd>Rio de Janeiro\u003C\u002Ftd>\u003Ctd>Rio de Janeiro\u003C\u002Ftd>\u003Ctd>29\u002F04\u002F24\u003C\u002Ftd>\u003Ctd>9,80%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Bangu Shopping\u003C\u002Ftd>\u003Ctd>Rio de Janeiro\u003C\u002Ftd>\u003Ctd>Rio de Janeiro\u003C\u002Ftd>\u003Ctd>07\u002F05\u002F24\u003C\u002Ftd>\u003Ctd>7,90%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>TopShopping\u003C\u002Ftd>\u003Ctd>Rio de Janeiro\u003C\u002Ftd>\u003Ctd>Nova Iguaçu\u003C\u002Ftd>\u003Ctd>09\u002F05\u002F24\u003C\u002Ftd>\u003Ctd>9,30%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>ShoppingPonta Negra\u003C\u002Ftd>\u003Ctd>Amazonas\u003C\u002Ftd>\u003Ctd>Manaus\u003C\u002Ftd>\u003Ctd>13\u002F05\u002F24\u003C\u002Ftd>\u003Ctd>8,43%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>ShoppingBela Vista\u003C\u002Ftd>\u003Ctd>Bahia\u003C\u002Ftd>\u003Ctd>Salvador\u003C\u002Ftd>\u003Ctd>13\u002F05\u002F24\u003C\u002Ftd>\u003Ctd>10,23%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Catarina Fashion Outlet\u003C\u002Ftd>\u003Ctd>São Paulo\u003C\u002Ftd>\u003Ctd>São Paulo\u003C\u002Ftd>\u003Ctd>13\u002F05\u002F24\u003C\u002Ftd>\u003Ctd>9,44%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>São Luís ShoppingCenter\u003C\u002Ftd>\u003Ctd>Maranhão\u003C\u002Ftd>\u003Ctd>São Luís\u003C\u002Ftd>\u003Ctd>19\u002F06\u002F24\u003C\u002Ftd>\u003Ctd>10,10%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Uberlândia Shopping\u003C\u002Ftd>\u003Ctd>Minas Gerais\u003C\u002Ftd>\u003Ctd>Uberlândia\u003C\u002Ftd>\u003Ctd>26\u002F06\u002F24\u003C\u002Ftd>\u003Ctd>10,00%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>ShoppingD\u003C\u002Ftd>\u003Ctd>São Paulo\u003C\u002Ftd>\u003Ctd>São Paulo\u003C\u002Ftd>\u003Ctd>27\u002F06\u002F24\u003C\u002Ftd>\u003Ctd>7,90%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>ShoppingCerrado\u003C\u002Ftd>\u003Ctd>Goiás\u003C\u002Ftd>\u003Ctd>Goiânia\u003C\u002Ftd>\u003Ctd>27\u002F06\u002F24\u003C\u002Ftd>\u003Ctd>7,90%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Tietê Plaza Shopping\u003C\u002Ftd>\u003Ctd>São Paulo\u003C\u002Ftd>\u003Ctd>São Paulo\u003C\u002Ftd>\u003Ctd>27\u002F06\u002F24\u003C\u002Ftd>\u003Ctd>7,90%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>ShoppingMetropolitano Barra\u003C\u002Ftd>\u003Ctd>Rio de Janeiro\u003C\u002Ftd>\u003Ctd>Rio de Janeiro\u003C\u002Ftd>\u003Ctd>27\u002F06\u002F24\u003C\u002Ftd>\u003Ctd>7,90%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>ShoppingCidade São Paulo\u003C\u002Ftd>\u003Ctd>São Paulo\u003C\u002Ftd>\u003Ctd>São Paulo\u003C\u002Ftd>\u003Ctd>27\u002F06\u002F24\u003C\u002Ftd>\u003Ctd>7,90%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Grand Plaza Shopping\u003Cbr>\u003C\u002Ftd>\u003Ctd>São Paulo\u003Cbr>\u003C\u002Ftd>\u003Ctd>Santo André\u003Cbr>\u003C\u002Ftd>\u003Ctd>27\u002F06\u002F24\u003Cbr>\u003C\u002Ftd>\u003Ctd>7,90%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Rio Sul ShoppingCenter\u003C\u002Ftd>\u003Ctd>Rio de Janeiro\u003C\u002Ftd>\u003Ctd>Rio de Janeiro\u003C\u002Ftd>\u003Ctd>08\u002F07\u002F24\u003C\u002Ftd>\u003Ctd>7,70%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Rio Sul ShoppingCenter\u003C\u002Ftd>\u003Ctd>Rio de Janeiro\u003C\u002Ftd>\u003Ctd>Rio de Janeiro\u003C\u002Ftd>\u003Ctd>08\u002F07\u002F24\u003C\u002Ftd>\u003Ctd>7,70%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Iguatemi São Paulo\u003C\u002Ftd>\u003Ctd>São Paulo\u003C\u002Ftd>\u003Ctd>São Paulo\u003C\u002Ftd>\u003Ctd>23\u002F07\u002F24\u003C\u002Ftd>\u003Ctd>11,20%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Iguatemi Alphaville\u003C\u002Ftd>\u003Ctd>São Paulo\u003C\u002Ftd>\u003Ctd>São Paulo\u003C\u002Ftd>\u003Ctd>28\u002F07\u002F24\u003C\u002Ftd>\u003Ctd>8,76%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Carioca Shopping\u003C\u002Ftd>\u003Ctd>Rio de Janeiro\u003C\u002Ftd>\u003Ctd>Rio de Janeiro\u003C\u002Ftd>\u003Ctd>04\u002F11\u002F24\u003C\u002Ftd>\u003Ctd>5,22%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>ShoppingPlaza Sul\u003C\u002Ftd>\u003Ctd>São Paulo\u003C\u002Ftd>\u003Ctd>São Paulo\u003C\u002Ftd>\u003Ctd>04\u002F11\u002F24\u003C\u002Ftd>\u003Ctd>9,51%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>ShoppingTijuca\u003C\u002Ftd>\u003Ctd>Rio de Janeiro\u003C\u002Ftd>\u003Ctd>Rio de Janeiro\u003C\u002Ftd>\u003Ctd>04\u002F11\u002F24\u003C\u002Ftd>\u003Ctd>10,38%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>ShoppingUberaba\u003C\u002Ftd>\u003Ctd>Minas Gerais\u003C\u002Ftd>\u003Ctd>Uberaba\u003C\u002Ftd>\u003Ctd>25\u002F11\u002F24\u003C\u002Ftd>\u003Ctd>8,00%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Pátio Paulista\u003C\u002Ftd>\u003Ctd>São Paulo\u003C\u002Ftd>\u003Ctd>São Paulo\u003C\u002Ftd>\u003Ctd>11\u002F03\u002F25\u003C\u002Ftd>\u003Ctd>7,40%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Expansão Pátio Paulista\u003C\u002Ftd>\u003Ctd>São Paulo\u003C\u002Ftd>\u003Ctd>São Paulo\u003C\u002Ftd>\u003Ctd>11\u002F03\u002F25\u003C\u002Ftd>\u003Ctd>7,40%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Pátio Higienópolis\u003C\u002Ftd>\u003Ctd>São Paulo\u003C\u002Ftd>\u003Ctd>São Paulo\u003C\u002Ftd>\u003Ctd>11\u002F03\u002F25\u003C\u002Ftd>\u003Ctd>7,40%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Pátio Higienópolis\u003C\u002Ftd>\u003Ctd>São Paulo\u003C\u002Ftd>\u003Ctd>São Paulo\u003C\u002Ftd>\u003Ctd>14\u002F04\u002F25\u003C\u002Ftd>\u003Ctd>7,70%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>MidwayMall\u003C\u002Ftd>\u003Ctd>Rio Grande do Norte\u003C\u002Ftd>\u003Ctd>Natal\u003C\u002Ftd>\u003Ctd>17\u002F12\u002F25\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>ParkShoppingSão Caetano\u003C\u002Ftd>\u003Ctd>São Paulo\u003C\u002Ftd>\u003Ctd>São Caetano\u003C\u002Ftd>\u003Ctd>14\u002F11\u002F25\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>ShoppingD\u003C\u002Ftd>\u003Ctd>São Paulo\u003C\u002Ftd>\u003Ctd>São Paulo\u003C\u002Ftd>\u003Ctd>09\u002F07\u002F25\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Tietê Plaza Shopping\u003C\u002Ftd>\u003Ctd>São Paulo\u003C\u002Ftd>\u003Ctd>São Paulo\u003C\u002Ftd>\u003Ctd>29\u002F08\u002F25\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Partage Santana Shopping\u003C\u002Ftd>\u003Ctd>São Paulo\u003C\u002Ftd>\u003Ctd>São Paulo\u003C\u002Ftd>\u003Ctd>29\u002F08\u002F25\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Campinas Shopping\u003C\u002Ftd>\u003Ctd>São Paulo\u003C\u002Ftd>\u003Ctd>Campinas\u003C\u002Ftd>\u003Ctd>29\u002F08\u002F25\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Grand Plaza Shopping\u003C\u002Ftd>\u003Ctd>São Paulo\u003C\u002Ftd>\u003Ctd>Santo André\u003C\u002Ftd>\u003Ctd>29\u002F08\u002F25\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Caxias Shopping\u003C\u002Ftd>\u003Ctd>Rio de Janeiro\u003C\u002Ftd>\u003Ctd>Duque de Caxias\u003C\u002Ftd>\u003Ctd>29\u002F08\u002F25\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>ShoppingDowntown\u003C\u002Ftd>\u003Ctd>Rio de Janeiro\u003C\u002Ftd>\u003Ctd>Rio de Janeiro\u003C\u002Ftd>\u003Ctd>29\u002F08\u002F25\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>ShoppingMetropolitano Barra\u003C\u002Ftd>\u003Ctd>Rio de Janeiro\u003C\u002Ftd>\u003Ctd>Rio de Janeiro\u003C\u002Ftd>\u003Ctd>29\u002F08\u002F25\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>ShoppingPonta Negra\u003C\u002Ftd>\u003Ctd>Amazonas\u003C\u002Ftd>\u003Ctd>Manaus\u003C\u002Ftd>\u003Ctd>29\u002F08\u002F25\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>ShoppingBela Vista\u003C\u002Ftd>\u003Ctd>Bahia\u003C\u002Ftd>\u003Ctd>Salvador\u003C\u002Ftd>\u003Ctd>29\u002F08\u002F25\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Barra Shopping\u003C\u002Ftd>\u003Ctd>Rio de Janeiro\u003C\u002Ftd>\u003Ctd>Rio de Janeiro\u003C\u002Ftd>\u003Ctd>29\u002F08\u002F25\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>ShoppingPátio Cianê\u003C\u002Ftd>\u003Ctd>São Paulo\u003C\u002Ftd>\u003Ctd>Sorocaba\u003C\u002Ftd>\u003Ctd>19\u002F08\u002F25\u003C\u002Ftd>\u003Ctd>9,70%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Pátio Higienópolis\u003C\u002Ftd>\u003Ctd>São Paulo\u003C\u002Ftd>\u003Ctd>São Paulo\u003C\u002Ftd>\u003Ctd>18\u002F09\u002F25\u003C\u002Ftd>\u003Ctd>7,40%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Pátio Paulista\u003C\u002Ftd>\u003Ctd>São Paulo\u003C\u002Ftd>\u003Ctd>São Paulo\u003C\u002Ftd>\u003Ctd>05\u002F08\u002F25\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>ShoppingParalela\u003C\u002Ftd>\u003Ctd>Bahia\u003C\u002Ftd>\u003Ctd>Salvador\u003C\u002Ftd>\u003Ctd>15\u002F08\u002F25\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>SuperShoppingOsasco\u003C\u002Ftd>\u003Ctd>São Paulo\u003C\u002Ftd>\u003Ctd>Osasco\u003C\u002Ftd>\u003Ctd>11\u002F08\u002F25\u003C\u002Ftd>\u003Ctd>9,60%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>ShoppingPonta Negra\u003C\u002Ftd>\u003Ctd>Amazonas\u003C\u002Ftd>\u003Ctd>Manaus\u003C\u002Ftd>\u003Ctd>03\u002F01\u002F25\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>ShoppingJardim Sul\u003C\u002Ftd>\u003Ctd>São Paulo\u003C\u002Ftd>\u003Ctd>São Paulo\u003C\u002Ftd>\u003Ctd>16\u002F09\u002F25\u003C\u002Ftd>\u003Ctd>770%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cbr>ShoppingJardim Sul\u003C\u002Ftd>\u003Ctd>\u003Cbr>São Paulo\u003C\u002Ftd>\u003Ctd>\u003Cbr>São Paulo\u003C\u002Ftd>\u003Ctd>\u003Cbr>31\u002F03\u002F26\u003C\u002Ftd>\u003Ctd>,\u003Cbr>7,70%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Boulevard ShoppingBauru\u003C\u002Ftd>\u003Ctd>São Paulo\u003C\u002Ftd>\u003Ctd>Bauru\u003C\u002Ftd>\u003Ctd>03\u002F12\u002F25\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Suzano Shopping\u003C\u002Ftd>\u003Ctd>São Paulo\u003C\u002Ftd>\u003Ctd>Suzano\u003C\u002Ftd>\u003Ctd>03\u002F12\u002F25\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BH Shopping\u003C\u002Ftd>\u003Ctd>Minas Gerais\u003C\u002Ftd>\u003Ctd>Belo Horizonte\u003C\u002Ftd>\u003Ctd>23\u002F03\u002F26\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Pátio Paulista\u003C\u002Ftd>\u003Ctd>São Paulo\u003C\u002Ftd>\u003Ctd>São Paulo\u003C\u002Ftd>\u003Ctd>12\u002F02\u002F26\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Fashion Outlet Novo Hamburgo\u003C\u002Ftd>\u003Ctd>Rio Grande do Sul\u003C\u002Ftd>\u003Ctd>Novo Hamburgo\u003C\u002Ftd>\u003Ctd>03\u002F03\u002F26\u003C\u002Ftd>\u003Ctd>7,70%\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>\u003Cem>Fonte: Binswanger - Editado por Binswanger Brazil – Abr\u002F2026\u003C\u002Fem>\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7840\u002F7840.pdf-0029-00.png\">\u003C\u002Fp>\u003Cp>ED\u003Cbr>MD EINS WANÇER\u003Cbr>\u003C\u002Fp>\u003Ch3>\u003Cstrong>6. METODOLOGIA EMPREGADA\u003C\u002Fstrong>\u003C\u002Fh3>\u003Cp>A metodologia adotada para este trabalho fundamenta-se nos seguintes critérios e preceitos: NBR 14653; Parte 1 – Procedimentos Gerais; Parte 2 - Imóveis Urbanos e Parte 4 - Empreendimentos, da ABNT (Associação Brasileira de Normas Técnicas); Normas para Avaliações de Imóveis Urbanos publicadas pelo IBAPE\u002FSP (Instituto Brasileiro de Avaliações e Perícias de Engenharia); Requisitos básicos do Red Book, estipulados pelo RICS (Royal Institution of Chartered Surveyors), da Grã Bretanha.\u003C\u002Fp>\u003Cp>O avaliando teve seu valor de mercado para venda obtido pelo Método da Renda, com base no fluxo de caixa de um Shopping Center. O método da renda, com base no Fluxo de Caixa Descontado é aquele que identifica o valor de mercado de um empreendimento através da análise de seu fluxo de receitas, custos e despesas ao longo de um determinado período.\u003C\u002Fp>\u003Cp>Será realizada modelagem de forma a permitir uma análise do retorno esperado, além de apresentar uma expectativa de resultado mais próxima com a realidade mercadológica do momento.\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7840\u002F7840.pdf-0030-00.png\">\u003C\u002Fp>\u003Ch3>\u003Cstrong>7. CÁLCULO DO VALOR DO IMÓVEL\u003C\u002Fstrong>\u003C\u002Fh3>\u003Cp>Para a avaliação do empreendimento em questão, utilizamos o método de avaliação conhecido como \"Método de Fluxo de Caixa Descontado (FCD)”, o qual é utilizado na avaliação de empreendimentos de base imobiliária, projetando-se todas as receitas e despesas do empreendimento para um horizonte que se entenda o mais adequado.\u003C\u002Fp>\u003Cp>Através deste método foi determinado o valor do imóvel sob a ótica de investimento, tendo como base a operação atual. A seguir apresentamos as premissas de análises.\u003C\u002Fp>\u003Ch4>\u003Cstrong>7.1. ÁREAS ADOTADAS - ABL\u003C\u002Fstrong>\u003C\u002Fh4>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>\u003Cstrong>LUC\u003C\u002Fstrong>\u003Cbr>Âncoras\u003C\u002Fth>\u003Cth>\u003Cstrong>Loja\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>ABL (m²)\u003C\u002Fstrong>\u003Cbr>3.855,50\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>301\u003C\u002Ftd>\u003Ctd>Grupo Cine\u003C\u002Ftd>\u003Ctd>1.437,85\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>303\u003C\u002Ftd>\u003Ctd>X-Body Academia\u003C\u002Ftd>\u003Ctd>606,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>313-317\u003C\u002Ftd>\u003Ctd>Lojas Americanas\u003C\u002Ftd>\u003Ctd>584,85\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>A01\u003C\u002Ftd>\u003Ctd>Mc Donald S\u003C\u002Ftd>\u003Ctd>400,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>210\u003C\u002Ftd>\u003Ctd>Mc Donald S 2\u003C\u002Ftd>\u003Ctd>82,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>142\u002F151A\u003C\u002Ftd>\u003Ctd>American Shoes\u003C\u002Ftd>\u003Ctd>301,98\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>157-160\u003C\u002Ftd>\u003Ctd>Clínica Partmed \u002F Odontocompan\u003C\u002Ftd>\u003Ctd>273,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>134*\u003C\u002Ftd>\u003Ctd>Burger King\u003C\u002Ftd>\u003Ctd>169,82\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Satélites\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>1.982,58\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>131\u003C\u002Ftd>\u003Ctd>Soccer Destination\u003C\u002Ftd>\u003Ctd>92,50\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>120\u003C\u002Ftd>\u003Ctd>Drogaria Efatá\u003C\u002Ftd>\u003Ctd>87,76\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>215\u002F216\u003C\u002Ftd>\u003Ctd>Mix Presentes\u003C\u002Ftd>\u003Ctd>86,40\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>165\u002F166\u003C\u002Ftd>\u003Ctd>Hering\u003C\u002Ftd>\u003Ctd>84,19\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>149\u003C\u002Ftd>\u003Ctd>Happen\u003C\u002Ftd>\u003Ctd>71,48\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>134\u003C\u002Ftd>\u003Ctd>Key Outlet\u003C\u002Ftd>\u003Ctd>70,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>119\u003C\u002Ftd>\u003Ctd>Menina Marota\u003C\u002Ftd>\u003Ctd>62,16\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>167\u003C\u002Ftd>\u003Ctd>Dona Chic\u003C\u002Ftd>\u003Ctd>60,71\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>A24\u003C\u002Ftd>\u003Ctd>Divino Fogão\u003C\u002Ftd>\u003Ctd>60,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>104A\u003C\u002Ftd>\u003Ctd>Desbravadores\u003C\u002Ftd>\u003Ctd>56,77\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>146\u003C\u002Ftd>\u003Ctd>C7 Empório\u003C\u002Ftd>\u003Ctd>52,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>A21\u003C\u002Ftd>\u003Ctd>Giraffa S\u003C\u002Ftd>\u003Ctd>51,80\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>117A\u003C\u002Ftd>\u003Ctd>Subway\u003C\u002Ftd>\u003Ctd>50,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>117\u003C\u002Ftd>\u003Ctd>Center Cabeleireiros\u003C\u002Ftd>\u003Ctd>47,50\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>115\u003C\u002Ftd>\u003Ctd>Claro\u003C\u002Ftd>\u003Ctd>47,50\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>108\u003C\u002Ftd>\u003Ctd>Espaço Laser\u003C\u002Ftd>\u003Ctd>47,50\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>116\u003C\u002Ftd>\u003Ctd>Fotobril\u003C\u002Ftd>\u003Ctd>47,50\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>110\u003C\u002Ftd>\u003Ctd>Que Pasa Tattoo\u003C\u002Ftd>\u003Ctd>47,50\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>111\u003C\u002Ftd>\u003Ctd>Vivo\u003C\u002Ftd>\u003Ctd>47,50\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>141\u003C\u002Ftd>\u003Ctd>Jok S\u003C\u002Ftd>\u003Ctd>43,82\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>107\u003C\u002Ftd>\u003Ctd>Pink Concept\u003C\u002Ftd>\u003Ctd>43,75\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>121\u003C\u002Ftd>\u003Ctd>A Suissa\u003C\u002Ftd>\u003Ctd>43,00\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7840\u002F7840.pdf-0031-00.png\">\u003C\u002Fp>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>\u003Cstrong>LUC\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Loja\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>ABL (m²)\u003C\u002Fstrong>\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>219\u003C\u002Ftd>\u003Ctd>O Boticário\u003C\u002Ftd>\u003Ctd>43,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>214\u003C\u002Ftd>\u003Ctd>Gataka\u003C\u002Ftd>\u003Ctd>40,75\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>220\u003C\u002Ftd>\u003Ctd>Oficio Do Couro\u003C\u002Ftd>\u003Ctd>40,75\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>152\u003C\u002Ftd>\u003Ctd>Techsmart\u003C\u002Ftd>\u003Ctd>40,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>153\u003C\u002Ftd>\u003Ctd>Manu Baby\u003C\u002Ftd>\u003Ctd>39,50\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>161\u003C\u002Ftd>\u003Ctd>Estácio\u003C\u002Ftd>\u003Ctd>39,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>106A\u003C\u002Ftd>\u003Ctd>Luson\u003C\u002Ftd>\u003Ctd>36,48\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>102\u003C\u002Ftd>\u003Ctd>Ápice Das Sobrancelhas\u003C\u002Ftd>\u003Ctd>32,20\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>138\u003C\u002Ftd>\u003Ctd>Relojoaria Omega\u003C\u002Ftd>\u003Ctd>30,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>103\u003C\u002Ftd>\u003Ctd>Duck Go\u003C\u002Ftd>\u003Ctd>28,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>147\u003C\u002Ftd>\u003Ctd>Cacau Show\u003C\u002Ftd>\u003Ctd>27,50\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>144\u003C\u002Ftd>\u003Ctd>Le Blanc\u003C\u002Ftd>\u003Ctd>26,70\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>122A\u003C\u002Ftd>\u003Ctd>Good Cup\u003C\u002Ftd>\u003Ctd>23,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>122\u003C\u002Ftd>\u003Ctd>Grão Espresso\u003C\u002Ftd>\u003Ctd>23,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>A11\u003C\u002Ftd>\u003Ctd>Churras Express\u003C\u002Ftd>\u003Ctd>22,75\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>154\u003C\u002Ftd>\u003Ctd>Sabor Expresso\u003C\u002Ftd>\u003Ctd>22,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>118\u003C\u002Ftd>\u003Ctd>Score Perfumaria\u003C\u002Ftd>\u003Ctd>22,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>231\u003C\u002Ftd>\u003Ctd>Nastari Presentes\u003C\u002Ftd>\u003Ctd>21,60\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>229\u003C\u002Ftd>\u003Ctd>Faster Câmbio\u003C\u002Ftd>\u003Ctd>20,80\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>227\u003C\u002Ftd>\u003Ctd>Indextour\u003C\u002Ftd>\u003Ctd>20,80\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>155\u003C\u002Ftd>\u003Ctd>Tim\u003C\u002Ftd>\u003Ctd>20,66\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>230\u003C\u002Ftd>\u003Ctd>Ahroma\u003C\u002Ftd>\u003Ctd>20,20\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>L01\u003C\u002Ftd>\u003Ctd>Lotérica\u003C\u002Ftd>\u003Ctd>18,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>A15\u003C\u002Ftd>\u003Ctd>Cantinho Do Chopp\u003C\u002Ftd>\u003Ctd>14,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>105\u003C\u002Ftd>\u003Ctd>Info&Cell\u003C\u002Ftd>\u003Ctd>8,55\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Lojas Vagas\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>2.456,93\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Total\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>8.295,01\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Ch5>Distribuição das lojas por classificação:\u003C\u002Fh5>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>\u003Cstrong>Classificação\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>ABL (m²)\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Nº de Lojas\u003C\u002Fstrong>\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>\u003Cstrong>Âncora\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>3.855,50\u003C\u002Ftd>\u003Ctd>8\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Satélite\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>1.982,58\u003C\u002Ftd>\u003Ctd>47\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Loja Vaga\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>2.456,93\u003C\u002Ftd>\u003Ctd>35\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Total\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>8.295,01\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>90\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7840\u002F7840.pdf-0032-00.png\">\u003C\u002Fp>\u003Cp>ED\u003Cbr>MD EINS WANÇER\u003Cbr>\u003C\u002Fp>\u003Ch4>\u003Cstrong>7.2. ALUGUEL MÍNIMO E PERCENTUAL \u002F COMPLEMENTAR\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>Para projeção de nossos fluxos de caixa utilizamos como base as receitas de aluguéis mínimos e complementares presentes no Rent Roll, assim como o número de aluguéis pagos por ano de cada loja ou segmento.\u003C\u002Fp>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>\u003Cstrong>Atividade\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Classificação\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>ABL (m²)\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Aluguel\u003C\u002Fstrong>\u003Cbr>\u003Cstrong>Mínimo\u003C\u002Fstrong>\u003Cbr>\u003Cstrong>(R$\u002Fm²)\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Aluguel\u003C\u002Fstrong>\u003Cbr>\u003Cstrong>Complementar\u003C\u002Fstrong>\u003Cbr>\u003Cstrong>(R$\u002Fm²)\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>AMM +\u003C\u002Fstrong>\u003Cbr>\u003Cstrong>Complementar\u003C\u002Fstrong>\u003Cbr>\u003Cstrong>(R$\u002Fm²)\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Alugueis por\u003C\u002Fstrong>\u003Cbr>\u003Cstrong>Ano\u003C\u002Fstrong>\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>Grupo Cine\u003C\u002Ftd>\u003Ctd>Âncora\u003C\u002Ftd>\u003Ctd>1.437,85\u003C\u002Ftd>\u003Ctd>9,42\u003C\u002Ftd>\u003Ctd>1,61\u003C\u002Ftd>\u003Ctd>11,03\u003C\u002Ftd>\u003Ctd>12\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>X-Body Academia\u003C\u002Ftd>\u003Ctd>Âncora\u003C\u002Ftd>\u003Ctd>606,00\u003C\u002Ftd>\u003Ctd>0,00\u003C\u002Ftd>\u003Ctd>0,00\u003C\u002Ftd>\u003Ctd>0,00\u003C\u002Ftd>\u003Ctd>12\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Lojas Americanas\u003C\u002Ftd>\u003Ctd>Âncora\u003C\u002Ftd>\u003Ctd>584,85\u003C\u002Ftd>\u003Ctd>8,02\u003C\u002Ftd>\u003Ctd>13,40\u003C\u002Ftd>\u003Ctd>21,42\u003C\u002Ftd>\u003Ctd>12\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Mc Donald S\u003C\u002Ftd>\u003Ctd>Âncora\u003C\u002Ftd>\u003Ctd>400,00\u003C\u002Ftd>\u003Ctd>0,00\u003C\u002Ftd>\u003Ctd>67,16\u003C\u002Ftd>\u003Ctd>67,16\u003C\u002Ftd>\u003Ctd>12\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>American Shoes\u003C\u002Ftd>\u003Ctd>Âncora\u003C\u002Ftd>\u003Ctd>301,98\u003C\u002Ftd>\u003Ctd>3,31\u003C\u002Ftd>\u003Ctd>70,88\u003C\u002Ftd>\u003Ctd>74,19\u003C\u002Ftd>\u003Ctd>12\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Clínica Partmed \u002F\u003Cbr>Odontocompan\u003C\u002Ftd>\u003Ctd>Âncora\u003C\u002Ftd>\u003Ctd>273,00\u003C\u002Ftd>\u003Ctd>0,00\u003C\u002Ftd>\u003Ctd>0,00\u003C\u002Ftd>\u003Ctd>0,00\u003C\u002Ftd>\u003Ctd>12\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Burger King\u003C\u002Ftd>\u003Ctd>Âncora\u003C\u002Ftd>\u003Ctd>169,82\u003C\u002Ftd>\u003Ctd>185,79\u003C\u002Ftd>\u003Ctd>0,00\u003C\u002Ftd>\u003Ctd>185,79\u003C\u002Ftd>\u003Ctd>12\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Mc Donald S 2\u003C\u002Ftd>\u003Ctd>Âncora\u003C\u002Ftd>\u003Ctd>82,00\u003C\u002Ftd>\u003Ctd>295,17\u003C\u002Ftd>\u003Ctd>0,00\u003C\u002Ftd>\u003Ctd>295,17\u003C\u002Ftd>\u003Ctd>12\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Vestuário\u003C\u002Ftd>\u003Ctd>Satélite\u003C\u002Ftd>\u003Ctd>437,49\u003C\u002Ftd>\u003Ctd>157,02\u003C\u002Ftd>\u003Ctd>0,00\u003C\u002Ftd>\u003Ctd>157,02\u003C\u002Ftd>\u003Ctd>12\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Conveniência e Serviços\u003C\u002Ftd>\u003Ctd>Satélite\u003C\u002Ftd>\u003Ctd>376,74\u003C\u002Ftd>\u003Ctd>147,17\u003C\u002Ftd>\u003Ctd>0,00\u003C\u002Ftd>\u003Ctd>147,17\u003C\u002Ftd>\u003Ctd>12\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Alimentação\u003C\u002Ftd>\u003Ctd>Satélite\u003C\u002Ftd>\u003Ctd>294,05\u003C\u002Ftd>\u003Ctd>175,14\u003C\u002Ftd>\u003Ctd>0,00\u003C\u002Ftd>\u003Ctd>175,14\u003C\u002Ftd>\u003Ctd>12\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Artigos Diversos\u003C\u002Ftd>\u003Ctd>Satélite\u003C\u002Ftd>\u003Ctd>248,00\u003C\u002Ftd>\u003Ctd>22,74\u003C\u002Ftd>\u003Ctd>13,51\u003C\u002Ftd>\u003Ctd>36,25\u003C\u002Ftd>\u003Ctd>12\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Perfumaria e cosmético\u003C\u002Ftd>\u003Ctd>Satélite\u003C\u002Ftd>\u003Ctd>128,95\u003C\u002Ftd>\u003Ctd>99,82\u003C\u002Ftd>\u003Ctd>8,67\u003C\u002Ftd>\u003Ctd>108,49\u003C\u002Ftd>\u003Ctd>12\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Lazer\u003C\u002Ftd>\u003Ctd>Satélite\u003C\u002Ftd>\u003Ctd>125,52\u003C\u002Ftd>\u003Ctd>27,88\u003C\u002Ftd>\u003Ctd>0,00\u003C\u002Ftd>\u003Ctd>27,88\u003C\u002Ftd>\u003Ctd>12\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Telefonia e Acessórios\u003C\u002Ftd>\u003Ctd>Satélite\u003C\u002Ftd>\u003Ctd>124,21\u003C\u002Ftd>\u003Ctd>225,48\u003C\u002Ftd>\u003Ctd>0,00\u003C\u002Ftd>\u003Ctd>225,48\u003C\u002Ftd>\u003Ctd>12\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Joias, Relógios e Bijuterias\u003C\u002Ftd>\u003Ctd>Satélite\u003C\u002Ftd>\u003Ctd>116,82\u003C\u002Ftd>\u003Ctd>178,30\u003C\u002Ftd>\u003Ctd>0,00\u003C\u002Ftd>\u003Ctd>178,30\u003C\u002Ftd>\u003Ctd>12\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Calçados\u003C\u002Ftd>\u003Ctd>Satélite\u003C\u002Ftd>\u003Ctd>110,00\u003C\u002Ftd>\u003Ctd>46,97\u003C\u002Ftd>\u003Ctd>44,30\u003C\u002Ftd>\u003Ctd>91,27\u003C\u002Ftd>\u003Ctd>12\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Serviços Financeiros\u003C\u002Ftd>\u003Ctd>Satélite\u003C\u002Ftd>\u003Ctd>20,80\u003C\u002Ftd>\u003Ctd>190,95\u003C\u002Ftd>\u003Ctd>0,00\u003C\u002Ftd>\u003Ctd>190,95\u003C\u002Ftd>\u003Ctd>12\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Loja Vaga\u003C\u002Ftd>\u003Ctd>Satélite\u003C\u002Ftd>\u003Ctd>1.591,93\u003C\u002Ftd>\u003Ctd>128,94\u003C\u002Ftd>\u003Ctd>4,71\u003C\u002Ftd>\u003Ctd>133,65\u003C\u002Ftd>\u003Ctd>12\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Loja Vaga\u003C\u002Ftd>\u003Ctd>Âncora\u003C\u002Ftd>\u003Ctd>865,00\u003C\u002Ftd>\u003Ctd>19,45\u003C\u002Ftd>\u003Ctd>15,15\u003C\u002Ftd>\u003Ctd>34,60\u003C\u002Ftd>\u003Ctd>12\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>ABL TOTAL\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>8.295,01\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7840\u002F7840.pdf-0033-00.png\">\u003C\u002Fp>\u003Cp>ED\u003Cbr>MD EINS WANÇER\u003Cbr>\u003C\u002Fp>\u003Ch4>\u003Cstrong>7.3. CRESCIMENTOS PREVISTOS\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>Consideramos um crescimento baseado no plano de reestruturação do empreendimento, no potencial intrínseco do imóvel e na projeção de crescimento da atividade econômica do país segundo as bases do Boletim FOCUS.\u003C\u002Fp>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>\u003C\u002Fth>\u003Cth>\u003Cstrong>Ano 1\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Ano 2\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Ano 3\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Ano 4\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Ano 5\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Ano 6\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Ano 7\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Ano 8\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Ano 9\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Ano 10\u003C\u002Fstrong>\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>\u003Cstrong>Aluguel Mínimo\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>2026\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>2027\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>2028\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>2029\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>2030\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>2031\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>2032\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>2033\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>2034\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>2035\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Grupo Cine\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>X-BodyAcademia\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Lojas Americanas\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Mc Donald S\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>American Shoes\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Clínica Partmed \u002F Odontocompan\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Burger King\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Mc Donald S 2\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Vestuário\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>3%\u003C\u002Ftd>\u003Ctd>3%\u003C\u002Ftd>\u003Ctd>2%\u003C\u002Ftd>\u003Ctd>2%\u003C\u002Ftd>\u003Ctd>1%\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Conveniência e Serviços\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>3%\u003C\u002Ftd>\u003Ctd>3%\u003C\u002Ftd>\u003Ctd>2%\u003C\u002Ftd>\u003Ctd>2%\u003C\u002Ftd>\u003Ctd>1%\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Alimentação\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>3%\u003C\u002Ftd>\u003Ctd>3%\u003C\u002Ftd>\u003Ctd>2%\u003C\u002Ftd>\u003Ctd>2%\u003C\u002Ftd>\u003Ctd>1%\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Artigos Diversos\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>3%\u003C\u002Ftd>\u003Ctd>3%\u003C\u002Ftd>\u003Ctd>2%\u003C\u002Ftd>\u003Ctd>2%\u003C\u002Ftd>\u003Ctd>1%\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Perfumaria e cosmético\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>3%\u003C\u002Ftd>\u003Ctd>3%\u003C\u002Ftd>\u003Ctd>2%\u003C\u002Ftd>\u003Ctd>2%\u003C\u002Ftd>\u003Ctd>1%\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Lazer\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>3%\u003C\u002Ftd>\u003Ctd>3%\u003C\u002Ftd>\u003Ctd>2%\u003C\u002Ftd>\u003Ctd>2%\u003C\u002Ftd>\u003Ctd>1%\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Telefonia e Acessórios\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>3%\u003C\u002Ftd>\u003Ctd>3%\u003C\u002Ftd>\u003Ctd>2%\u003C\u002Ftd>\u003Ctd>2%\u003C\u002Ftd>\u003Ctd>1%\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Joias, Relógios e Bijuterias\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>3%\u003C\u002Ftd>\u003Ctd>3%\u003C\u002Ftd>\u003Ctd>2%\u003C\u002Ftd>\u003Ctd>2%\u003C\u002Ftd>\u003Ctd>1%\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Calçados\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>3%\u003C\u002Ftd>\u003Ctd>3%\u003C\u002Ftd>\u003Ctd>2%\u003C\u002Ftd>\u003Ctd>2%\u003C\u002Ftd>\u003Ctd>1%\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Serviços Financeiros\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>3%\u003C\u002Ftd>\u003Ctd>3%\u003C\u002Ftd>\u003Ctd>2%\u003C\u002Ftd>\u003Ctd>2%\u003C\u002Ftd>\u003Ctd>1%\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Loja Vaga - Satélite\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>3%\u003C\u002Ftd>\u003Ctd>3%\u003C\u002Ftd>\u003Ctd>2%\u003C\u002Ftd>\u003Ctd>2%\u003C\u002Ftd>\u003Ctd>1%\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Loja Vaga - Âncora\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>\u003C\u002Fth>\u003Cth>\u003Cstrong>Ano 1\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Ano 2\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Ano 3\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Ano 4\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Ano 5\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Ano 6\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Ano 7\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Ano 8\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Ano 9\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Ano 10\u003C\u002Fstrong>\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>\u003Cstrong>Aluguel Complementar\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>2026\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>2027\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>2028\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>2029\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>2030\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>2031\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>2032\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>2033\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>2034\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>2035\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Grupo Cine\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>3%\u003C\u002Ftd>\u003Ctd>3%\u003C\u002Ftd>\u003Ctd>2%\u003C\u002Ftd>\u003Ctd>2%\u003C\u002Ftd>\u003Ctd>1%\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>X-BodyAcademia\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>3%\u003C\u002Ftd>\u003Ctd>3%\u003C\u002Ftd>\u003Ctd>2%\u003C\u002Ftd>\u003Ctd>2%\u003C\u002Ftd>\u003Ctd>1%\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Lojas Americanas\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>3%\u003C\u002Ftd>\u003Ctd>3%\u003C\u002Ftd>\u003Ctd>2%\u003C\u002Ftd>\u003Ctd>2%\u003C\u002Ftd>\u003Ctd>1%\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Mc Donald S\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>3%\u003C\u002Ftd>\u003Ctd>3%\u003C\u002Ftd>\u003Ctd>2%\u003C\u002Ftd>\u003Ctd>2%\u003C\u002Ftd>\u003Ctd>1%\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>American Shoes\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>3%\u003C\u002Ftd>\u003Ctd>3%\u003C\u002Ftd>\u003Ctd>2%\u003C\u002Ftd>\u003Ctd>2%\u003C\u002Ftd>\u003Ctd>1%\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Clínica Partmed \u002F Odontocompan\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>3%\u003C\u002Ftd>\u003Ctd>3%\u003C\u002Ftd>\u003Ctd>2%\u003C\u002Ftd>\u003Ctd>2%\u003C\u002Ftd>\u003Ctd>1%\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Burger King\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>3%\u003C\u002Ftd>\u003Ctd>3%\u003C\u002Ftd>\u003Ctd>2%\u003C\u002Ftd>\u003Ctd>2%\u003C\u002Ftd>\u003Ctd>1%\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Mc Donald S 2\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>3%\u003C\u002Ftd>\u003Ctd>3%\u003C\u002Ftd>\u003Ctd>2%\u003C\u002Ftd>\u003Ctd>2%\u003C\u002Ftd>\u003Ctd>1%\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Vestuário\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>3%\u003C\u002Ftd>\u003Ctd>3%\u003C\u002Ftd>\u003Ctd>2%\u003C\u002Ftd>\u003Ctd>2%\u003C\u002Ftd>\u003Ctd>1%\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Conveniência e Serviços\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>3%\u003C\u002Ftd>\u003Ctd>3%\u003C\u002Ftd>\u003Ctd>2%\u003C\u002Ftd>\u003Ctd>2%\u003C\u002Ftd>\u003Ctd>1%\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Alimentação\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>3%\u003C\u002Ftd>\u003Ctd>3%\u003C\u002Ftd>\u003Ctd>2%\u003C\u002Ftd>\u003Ctd>2%\u003C\u002Ftd>\u003Ctd>1%\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Artigos Diversos\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>3%\u003C\u002Ftd>\u003Ctd>3%\u003C\u002Ftd>\u003Ctd>2%\u003C\u002Ftd>\u003Ctd>2%\u003C\u002Ftd>\u003Ctd>1%\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Perfumaria e cosmético\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>3%\u003C\u002Ftd>\u003Ctd>3%\u003C\u002Ftd>\u003Ctd>2%\u003C\u002Ftd>\u003Ctd>2%\u003C\u002Ftd>\u003Ctd>1%\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Lazer\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>3%\u003C\u002Ftd>\u003Ctd>3%\u003C\u002Ftd>\u003Ctd>2%\u003C\u002Ftd>\u003Ctd>2%\u003C\u002Ftd>\u003Ctd>1%\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Telefonia e Acessórios\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>3%\u003C\u002Ftd>\u003Ctd>3%\u003C\u002Ftd>\u003Ctd>2%\u003C\u002Ftd>\u003Ctd>2%\u003C\u002Ftd>\u003Ctd>1%\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Joias, Relógios e Bijuterias\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>3%\u003C\u002Ftd>\u003Ctd>3%\u003C\u002Ftd>\u003Ctd>2%\u003C\u002Ftd>\u003Ctd>2%\u003C\u002Ftd>\u003Ctd>1%\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Calçados\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>3%\u003C\u002Ftd>\u003Ctd>3%\u003C\u002Ftd>\u003Ctd>2%\u003C\u002Ftd>\u003Ctd>2%\u003C\u002Ftd>\u003Ctd>1%\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Serviços Financeiros\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>3%\u003C\u002Ftd>\u003Ctd>3%\u003C\u002Ftd>\u003Ctd>2%\u003C\u002Ftd>\u003Ctd>2%\u003C\u002Ftd>\u003Ctd>1%\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Loja Vaga - Satélite\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>3%\u003C\u002Ftd>\u003Ctd>3%\u003C\u002Ftd>\u003Ctd>2%\u003C\u002Ftd>\u003Ctd>2%\u003C\u002Ftd>\u003Ctd>1%\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Loja Vaga - Âncora\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>3%\u003C\u002Ftd>\u003Ctd>3%\u003C\u002Ftd>\u003Ctd>2%\u003C\u002Ftd>\u003Ctd>2%\u003C\u002Ftd>\u003Ctd>1%\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7840\u002F7840.pdf-0034-00.png\">\u003C\u002Fp>\u003Ch4>\u003Cstrong>7.4. QUIOSQUES \u002F MALL & MERCHANDISING\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>As receitas provenientes de quiosques, painéis e totens de publicidade foram estimadas em 60% das receitas provenientes dos aluguéis de lojas, de acordo com o praticado atualmente no imóvel.\u003C\u002Fp>\u003Ch4>\u003Cstrong>7.5. RECEITA DE ESTACIONAMENTO LÍQUIDA\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>A projeção de receitas de estacionamento considera um aumento anual de R$ 2,00 no ticket (atualmente R$22,00) até o ano 6 de fluxo e um crescimento anual no fluxo de veículos (atualmente 3.317 veículos por mês) conforme apresentado abaixo. O repasse do faturamento do estacionamento ao shopping, conforme histórico apresentado, é de 38,15%.\u003C\u002Fp>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>\u003C\u002Fth>\u003Cth>\u003C\u002Fth>\u003Cth>\u003Cstrong>Ano 1\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Ano 2\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Ano 3\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Ano 4\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Ano 5\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Ano 6\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Ano 7\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Ano 8\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Ano 9\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Ano 10\u003C\u002Fstrong>\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>\u003Cstrong>Item\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>Premissa\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>2026\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>2027\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>2028\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>2029\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>2030\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>2031\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>2032\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>2033\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>2034\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>2035\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Ticket Médio\u003C\u002Ftd>\u003Ctd>R$\u003C\u002Ftd>\u003Ctd>24,00\u003C\u002Ftd>\u003Ctd>26,00\u003C\u002Ftd>\u003Ctd>28,00\u003C\u002Ftd>\u003Ctd>30,00\u003C\u002Ftd>\u003Ctd>32,00\u003C\u002Ftd>\u003Ctd>34,00\u003C\u002Ftd>\u003Ctd>34,00\u003C\u002Ftd>\u003Ctd>34,00\u003C\u002Ftd>\u003Ctd>34,00\u003C\u002Ftd>\u003Ctd>34,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Crescimento de Fluxo\u003C\u002Ftd>\u003Ctd>%\u003C\u002Ftd>\u003Ctd>5,00%\u003C\u002Ftd>\u003Ctd>10,00%\u003C\u002Ftd>\u003Ctd>5,00%\u003C\u002Ftd>\u003Ctd>5,00%\u003C\u002Ftd>\u003Ctd>5,00%\u003C\u002Ftd>\u003Ctd>5,00%\u003C\u002Ftd>\u003Ctd>0,00%\u003C\u002Ftd>\u003Ctd>0,00%\u003C\u002Ftd>\u003Ctd>0,00%\u003C\u002Ftd>\u003Ctd>0,00%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Fluxo de Veículos\u003C\u002Ftd>\u003Ctd>Veículos\u002FMês\u003C\u002Ftd>\u003Ctd>3.483\u003C\u002Ftd>\u003Ctd>3.832\u003C\u002Ftd>\u003Ctd>4.023\u003C\u002Ftd>\u003Ctd>4.223\u003C\u002Ftd>\u003Ctd>4.435\u003C\u002Ftd>\u003Ctd>4.657\u003C\u002Ftd>\u003Ctd>4.657\u003C\u002Ftd>\u003Ctd>4.657\u003C\u002Ftd>\u003Ctd>4.657\u003C\u002Ftd>\u003Ctd>4.657\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Faturamento Mensal\u003C\u002Ftd>\u003Ctd>R$\u003C\u002Ftd>\u003Ctd>85.597\u003C\u002Ftd>\u003Ctd>99.619\u003C\u002Ftd>\u003Ctd>112.647\u003C\u002Ftd>\u003Ctd>126.728\u003C\u002Ftd>\u003Ctd>141.934\u003C\u002Ftd>\u003Ctd>158.346\u003C\u002Ftd>\u003Ctd>158.346\u003C\u002Ftd>\u003Ctd>158.346\u003C\u002Ftd>\u003Ctd>158.346\u003C\u002Ftd>\u003Ctd>158.346\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Repasse Shopping\u003C\u002Ftd>\u003Ctd>R$\u003C\u002Ftd>\u003Ctd>31.896\u003C\u002Ftd>\u003Ctd>38.009\u003C\u002Ftd>\u003Ctd>42.979\u003C\u002Ftd>\u003Ctd>48.352\u003C\u002Ftd>\u003Ctd>54.154\u003C\u002Ftd>\u003Ctd>60.416\u003C\u002Ftd>\u003Ctd>60.416\u003C\u002Ftd>\u003Ctd>60.416\u003C\u002Ftd>\u003Ctd>60.416\u003C\u002Ftd>\u003Ctd>60.416\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Ch4>\u003Cstrong>7.6. VACÂNCIA\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>A vacância no empreendimento é projetada conforme tabela a seguir.\u003C\u002Fp>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>\u003C\u002Fth>\u003Cth>\u003C\u002Fth>\u003Cth>\u003C\u002Fth>\u003Cth>\u003C\u002Fth>\u003Cth>\u003C\u002Fth>\u003Cth>\u003Cstrong>VACÂNCIA\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003C\u002Fth>\u003Cth>\u003C\u002Fth>\u003Cth>\u003C\u002Fth>\u003Cth>\u003C\u002Fth>\u003Cth>\u003C\u002Fth>\u003Cth>\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>Ano 1\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>Ano 2\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>Ano 3\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>Ano 4\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>Ano 5\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>Ano 6\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>Ano 7\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>Ano 8\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>Ano 9\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>Ano 10\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Item\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>Atual\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>2026\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>2027\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>2028\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>2029\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>2030\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>2031\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>2032\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>2033\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>2034\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>2035\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>ABL Vaga Satélite\u003C\u002Ftd>\u003Ctd>1.592\u003C\u002Ftd>\u003Ctd>1.592\u003C\u002Ftd>\u003Ctd>1.251\u003C\u002Ftd>\u003Ctd>1.072\u003C\u002Ftd>\u003Ctd>894\u003C\u002Ftd>\u003Ctd>715\u003C\u002Ftd>\u003Ctd>536\u003C\u002Ftd>\u003Ctd>536\u003C\u002Ftd>\u003Ctd>536\u003C\u002Ftd>\u003Ctd>536\u003C\u002Ftd>\u003Ctd>536\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Vacância Satélite\u003C\u002Ftd>\u003Ctd>44,54%\u003C\u002Ftd>\u003Ctd>44,54%\u003C\u002Ftd>\u003Ctd>35,00%\u003C\u002Ftd>\u003Ctd>30,00%\u003C\u002Ftd>\u003Ctd>25,00%\u003C\u002Ftd>\u003Ctd>20,00%\u003C\u002Ftd>\u003Ctd>15,00%\u003C\u002Ftd>\u003Ctd>15,00%\u003C\u002Ftd>\u003Ctd>15,00%\u003C\u002Ftd>\u003Ctd>15,00%\u003C\u002Ftd>\u003Ctd>15,00%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>ABL Vaga Âncora\u003C\u002Ftd>\u003Ctd>865\u003C\u002Ftd>\u003Ctd>865\u003C\u002Ftd>\u003Ctd>472\u003C\u002Ftd>\u003Ctd>236\u003C\u002Ftd>\u003Ctd>0\u003C\u002Ftd>\u003Ctd>0\u003C\u002Ftd>\u003Ctd>0\u003C\u002Ftd>\u003Ctd>0\u003C\u002Ftd>\u003Ctd>0\u003C\u002Ftd>\u003Ctd>0\u003C\u002Ftd>\u003Ctd>0\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Vacância Âncora\u003C\u002Ftd>\u003Ctd>18,32%\u003C\u002Ftd>\u003Ctd>18,32%\u003C\u002Ftd>\u003Ctd>10,00%\u003C\u002Ftd>\u003Ctd>5,00%\u003C\u002Ftd>\u003Ctd>0,00%\u003C\u002Ftd>\u003Ctd>0,00%\u003C\u002Ftd>\u003Ctd>0,00%\u003C\u002Ftd>\u003Ctd>0,00%\u003C\u002Ftd>\u003Ctd>0,00%\u003C\u002Ftd>\u003Ctd>0,00%\u003C\u002Ftd>\u003Ctd>0,00%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>ABL Vaga Total\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>2.457\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>2.457\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>1.723\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>1.308\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>894\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>715\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>536\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>536\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>536\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>536\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>536\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Vacância Total\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>29,62%\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>29,62%\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>20,77%\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>15,77%\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>10,77%\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>8,62%\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>6,46%\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>6,46%\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>6,46%\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>6,46%\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>6,46%\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7840\u002F7840.pdf-0035-00.png\">\u003C\u002Fp>\u003Cp>ED\u003Cbr>MD EINS WANÇER\u003Cbr>\u003C\u002Fp>\u003Ch4>\u003Cstrong>7.7. INADIMPLÊNCIA IRRECUPERÁVEL\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>A inadimplência irrecuperável no empreendimento é projetada conforme tabela a seguir.\u003C\u002Fp>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>\u003C\u002Fth>\u003Cth>\u003C\u002Fth>\u003Cth>\u003Cstrong>Ano 1\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Ano 2\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Ano 3\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Ano 4\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Ano 5\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Ano 6\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Ano 7\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Ano 8\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Ano 9\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Ano 10\u003C\u002Fstrong>\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>\u003Cstrong>Item\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>Premissa\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>2026\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>2027\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>2028\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>2029\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>2030\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>2031\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>2032\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>2033\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>2034\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>2035\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Inadimplência\u003Cbr>Irrecuperável\u003C\u002Ftd>\u003Ctd>% Receita Bruta\u003C\u002Ftd>\u003Ctd>20,0%\u003C\u002Ftd>\u003Ctd>10,0%\u003C\u002Ftd>\u003Ctd>5,0%\u003C\u002Ftd>\u003Ctd>3,0%\u003C\u002Ftd>\u003Ctd>2,0%\u003C\u002Ftd>\u003Ctd>1,0%\u003C\u002Ftd>\u003Ctd>1,0%\u003C\u002Ftd>\u003Ctd>1,0%\u003C\u002Ftd>\u003Ctd>1,0%\u003C\u002Ftd>\u003Ctd>1,0%\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Ch4>\u003Cstrong>7.8. DESPESAS GERAIS\u003C\u002Fstrong>\u003C\u002Fh4>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>\u003Cstrong>Despesa\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Premissa\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Adotado\u003C\u002Fstrong>\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>Taxa de Administração\u003C\u002Ftd>\u003Ctd>% Sobre a Receita Bruta\u003C\u002Ftd>\u003Ctd>8,00%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Encargos Lojas Vagas\u003C\u002Ftd>\u003Ctd>Fixo sobre ABL Vaga\u003C\u002Ftd>\u003Ctd>6,61\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Escritório da Administração\u003C\u002Ftd>\u003Ctd>R$\u002Fmês\u003C\u002Ftd>\u003Ctd>145.971,74\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Despesas Gerais\u003C\u002Ftd>\u003Ctd>R$\u002Fmês\u003C\u002Ftd>\u003Ctd>13.772,18\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Serviços Públicos\u003C\u002Ftd>\u003Ctd>Fixo sobre ABL Vaga\u003C\u002Ftd>\u003Ctd>1,63\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>FPP\u003C\u002Ftd>\u003Ctd>Fixo sobre ABL Vaga\u003C\u002Ftd>\u003Ctd>3,51\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Ch4>\u003Cstrong>7.9. INVESTIMENTOS \u002F FRA\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>Em termos gerais, a aplicação do fundo para reposição de ativos, implica teoricamente, em garantir uma operação constante do empreendimento sem que este tenha perda de prestígio \u002F atualização, ou\u003C\u002Fp>\u003Cp>seja, um custo teórico da permanência de atualidade do empreendimento face à conjuntura futura.\u003C\u002Fp>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>\u003C\u002Fth>\u003Cth>\u003C\u002Fth>\u003Cth>\u003Cstrong>Ano 1\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Ano 2\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Ano 3\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Ano 4\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Ano 5\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Ano 6\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Ano 7\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Ano 8\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Ano 9\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Ano 10\u003C\u002Fstrong>\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>\u003Cstrong>Item\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>Premissa\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>2026\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>2027\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>2028\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>2029\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>2030\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>2031\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>2032\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>2033\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>2034\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>2035\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>FRA\u003C\u002Ftd>\u003Ctd>% Receita Bruta\u003C\u002Ftd>\u003Ctd>5,0%\u003C\u002Ftd>\u003Ctd>5,0%\u003C\u002Ftd>\u003Ctd>4,0%\u003C\u002Ftd>\u003Ctd>4,0%\u003C\u002Ftd>\u003Ctd>3,0%\u003C\u002Ftd>\u003Ctd>3,0%\u003C\u002Ftd>\u003Ctd>3,0%\u003C\u002Ftd>\u003Ctd>3,0%\u003C\u002Ftd>\u003Ctd>3,0%\u003C\u002Ftd>\u003Ctd>3,0%\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7840\u002F7840.pdf-0036-00.png\">\u003C\u002Fp>\u003Cp>ED\u003Cbr>MD EINS WANÇER\u003Cbr>\u003C\u002Fp>\u003Ch4>\u003Cstrong>7.10. CÁLCULO DO VALOR DO IMÓVEL\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>Em shopping centers, é comum que suas avaliações se deem por 3 formas de cálculo: Fluxo de Caixa da Projeção das Receitas, Despesas e Investimento, Fluxo de Caixa da Projeção da Receita Líquida Distribuída, Base “Yield”. Para o caso em questão, aplicamos o 1º. Método – Projeção das Receitas, Despesas e Investimentos futuros.\u003C\u002Fp>\u003Cp>Nossas análises consideraram períodos de 10 anos, com o cálculo da perpetuidade no final do 10º ano. Não consideramos índices inflacionários e, portanto, todas nossas análises podem ser consideradas em “Reais da Base”.\u003C\u002Fp>\u003Ch4>\u003Cstrong>7.11. FLUXO DE CAIXA DA PROJEÇÃO DAS RECEITAS, DESPESAS E INVESTIMENTOS\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>Após todas nossas análises e considerações de premissas, calculamos o Valor Presente Líquido (VPL) com base nas taxas de desconto entre 10,50% e 13,50% ao ano, consideramos para o valor do empreendimento taxa de desconto de \u003Cstrong>12,00%\u003C\u002Fstrong>. A perpetuidade foi calculada a uma taxa de capitalização de \u003Cstrong>11,50%\u003C\u002Fstrong> no 10º ano.\u003C\u002Fp>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>\u003Cstrong>Taxa de Desconto\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Total(R$ x 1.000)\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>VPL\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>p\u002Fm² ABL\u003C\u002Fstrong>\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>10,50%\u003C\u002Ftd>\u003Ctd>72.368\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>8.724\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>11,00%\u003C\u002Ftd>\u003Ctd>70.025\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>8.442\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>11,50%\u003C\u002Ftd>\u003Ctd>67.781\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>8.171\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>12,00%\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>65.630,42\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>7.912\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>12,50%\u003C\u002Ftd>\u003Ctd>63.569\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>7.664\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>13,00%\u003C\u002Ftd>\u003Ctd>61.593\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>7.425\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>13,50%\u003C\u002Ftd>\u003Ctd>59.697\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>7.197\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>De acordo com os cenários e as planilhas apresentadas nos Anexos, concluímos que o valor do Shopping é de R$ 65.630.424,12.\u003C\u002Fp>\u003Cp>Em números redondos é de:\u003C\u002Fp>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>\u003Cstrong>VALOR VENDA\u003C\u002Fstrong>\u003Cbr>\u003Cstrong>SHOPPING\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>(Renda – Fluxo\u003Cbr>de Caixa)\u003Cbr>\u003Cstrong>R$ 65.630.000,00\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Sessenta E Cinco Milhões, Seiscentos E Trinta\u003C\u002Fstrong>\u003Cbr>\u003Cstrong>Mil Reais\u003C\u002Fstrong>\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7840\u002F7840.pdf-0037-00.png\">\u003C\u002Fp>\u003Cp>ED\u003Cbr>MD EINS WANÇER\u003Cbr>\u003C\u002Fp>\u003Ch3>\u003Cstrong>8. CONCLUSÃO DA AVALIAÇÃO\u003C\u002Fstrong>\u003C\u002Fh3>\u003Cp>De acordo com nossas análises e premissas aqui apresentadas, concluímos os seguintes valores do imóvel em referência:\u003C\u002Fp>\u003Cp>\u003Cstrong>VALOR JUSTO Sessenta E Cinco Milhões, Seiscentos E Trinta\u003C\u002Fstrong> (Renda – Fluxo de Caixa) \u003Cstrong>R$ 65.630.000,00 PARA VENDA Mil Reais\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>Binswanger Brazil CREA: 494866\u003C\u002Fp>\u003Cp>Assinado de forma digital por ISABELA DORA COSTA ISABELA DORA COSTA MONASTERSKY:14400 MONASTERSKY:14400445895 445895 Dados: 2026.07.28 15:23:30 -03'00' Isabela Dora Costa Monastersky - MRICS \u003Cem>Diretora de Consultoria e Avaliações CREA: 506.007.193-1\u003C\u002Fem>\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7840\u002F7840.pdf-0037-06.png\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7840\u002F7840.pdf-0038-00.png\">\u003C\u002Fp>\u003Cp>ED\u003Cbr>MD EINS WANÇER\u003Cbr>\u003C\u002Fp>\u003Ch3>\u003Cstrong>APÊNDICE A – AVALIAÇÃO – SHOPPING CENTER\u003C\u002Fstrong>\u003C\u002Fh3>\u003Ch4>\u003Cstrong>ANÁLISE DA QUALIDADE ECONÔMICA\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>A Análise da Qualidade Econômica baseou-se na intenção de verificar a qualidade econômica do empreendimento imobiliário, considerando o histórico de desempenho face as atuais circunstâncias da economia local.\u003C\u002Fp>\u003Ch4>\u003Cstrong>FLUXO DE CAIXA DESCONTADO\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>O resultado de todas as nossas análises se deu através do fluxo de caixa a seguir.\u003C\u002Fp>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>\u003Cstrong>Taxa de Desconto\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Total (R$ x 1.000)\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>VPL\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>p\u002Fm² ABL\u003C\u002Fstrong>\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>10,50%\u003C\u002Ftd>\u003Ctd>72.368\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>8.724\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>11,00%\u003C\u002Ftd>\u003Ctd>70.025\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>8.442\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>11,50%\u003C\u002Ftd>\u003Ctd>67.781\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>8.171\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>12,00%\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>65.630,42\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>7.912\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>12,50%\u003C\u002Ftd>\u003Ctd>63.569\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>7.664\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>13,00%\u003C\u002Ftd>\u003Ctd>61.593\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>7.425\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>13,50%\u003C\u002Ftd>\u003Ctd>59.697\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>7.197\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7840\u002F7840.pdf-0039-00.png\">\u003C\u002Fp>\u003Cp>ED\u003Cbr>MD EINS WANÇER\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cstrong>Shopping Center Lapa - Fluxo de caixa em milhares de reais\u003C\u002Fstrong>\u003C\u002Fp>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>\u003C\u002Fth>\u003Cth>\u003Cstrong>Ano 1\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Ano 2\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Ano 3\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Ano 4\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Ano 5\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Ano 6\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Ano 7\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Ano 8\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Ano 9\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Ano 10\u003C\u002Fstrong>\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>Com o ano se encerrando em:\u003C\u002Ftd>\u003Ctd>mai-27\u003C\u002Ftd>\u003Ctd>mai-28\u003C\u002Ftd>\u003Ctd>mai-29\u003C\u002Ftd>\u003Ctd>mai-30\u003C\u002Ftd>\u003Ctd>mai-31\u003C\u002Ftd>\u003Ctd>mai-32\u003C\u002Ftd>\u003Ctd>mai-33\u003C\u002Ftd>\u003Ctd>mai-34\u003C\u002Ftd>\u003Ctd>mai-35\u003C\u002Ftd>\u003Ctd>mai-36\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Receita Operacional Bruta\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>8.032\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>9.457\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>10.386\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>11.273\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>12.028\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>12.710\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>12.710\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>12.710\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>12.710\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>12.710\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Receita Total Aluguel\u003C\u002Ftd>\u003Ctd>4.780\u003C\u002Ftd>\u003Ctd>5.625\u003C\u002Ftd>\u003Ctd>6.169\u003C\u002Ftd>\u003Ctd>6.683\u003C\u002Ftd>\u003Ctd>7.111\u003C\u002Ftd>\u003Ctd>7.491\u003C\u002Ftd>\u003Ctd>7.491\u003C\u002Ftd>\u003Ctd>7.491\u003C\u002Ftd>\u003Ctd>7.491\u003C\u002Ftd>\u003Ctd>7.491\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Aluguel Mínimo\u003C\u002Ftd>\u003Ctd>3.967\u003C\u002Ftd>\u003Ctd>4.694\u003C\u002Ftd>\u003Ctd>5.154\u003C\u002Ftd>\u003Ctd>5.590\u003C\u002Ftd>\u003Ctd>5.985\u003C\u002Ftd>\u003Ctd>6.342\u003C\u002Ftd>\u003Ctd>6.342\u003C\u002Ftd>\u003Ctd>6.342\u003C\u002Ftd>\u003Ctd>6.342\u003C\u002Ftd>\u003Ctd>6.342\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Aluguel Complementar\u003C\u002Ftd>\u003Ctd>813\u003C\u002Ftd>\u003Ctd>931\u003C\u002Ftd>\u003Ctd>1.015\u003C\u002Ftd>\u003Ctd>1.093\u003C\u002Ftd>\u003Ctd>1.126\u003C\u002Ftd>\u003Ctd>1.148\u003C\u002Ftd>\u003Ctd>1.148\u003C\u002Ftd>\u003Ctd>1.148\u003C\u002Ftd>\u003Ctd>1.148\u003C\u002Ftd>\u003Ctd>1.148\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Quiosques\u003C\u002Ftd>\u003Ctd>2.868\u003C\u002Ftd>\u003Ctd>3.375\u003C\u002Ftd>\u003Ctd>3.701\u003C\u002Ftd>\u003Ctd>4.010\u003C\u002Ftd>\u003Ctd>4.267\u003C\u002Ftd>\u003Ctd>4.494\u003C\u002Ftd>\u003Ctd>4.494\u003C\u002Ftd>\u003Ctd>4.494\u003C\u002Ftd>\u003Ctd>4.494\u003C\u002Ftd>\u003Ctd>4.494\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Receita De Estacionamento Líquida\u003C\u002Ftd>\u003Ctd>383\u003C\u002Ftd>\u003Ctd>456\u003C\u002Ftd>\u003Ctd>516\u003C\u002Ftd>\u003Ctd>580\u003C\u002Ftd>\u003Ctd>650\u003C\u002Ftd>\u003Ctd>725\u003C\u002Ftd>\u003Ctd>725\u003C\u002Ftd>\u003Ctd>725\u003C\u002Ftd>\u003Ctd>725\u003C\u002Ftd>\u003Ctd>725\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Despesas Totais\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>-4.512\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>-3.862\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>-3.452\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>-3.283\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>-3.220\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>-3.136\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>-3.136\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>-3.136\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>-3.136\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>-3.136\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Taxa de Administração\u003C\u002Ftd>\u003Ctd>-643\u003C\u002Ftd>\u003Ctd>-757\u003C\u002Ftd>\u003Ctd>-831\u003C\u002Ftd>\u003Ctd>-902\u003C\u002Ftd>\u003Ctd>-962\u003C\u002Ftd>\u003Ctd>-1.017\u003C\u002Ftd>\u003Ctd>-1.017\u003C\u002Ftd>\u003Ctd>-1.017\u003C\u002Ftd>\u003Ctd>-1.017\u003C\u002Ftd>\u003Ctd>-1.017\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Encargos Lojas Vagas\u003C\u002Ftd>\u003Ctd>-195\u003C\u002Ftd>\u003Ctd>-137\u003C\u002Ftd>\u003Ctd>-104\u003C\u002Ftd>\u003Ctd>-71\u003C\u002Ftd>\u003Ctd>-57\u003C\u002Ftd>\u003Ctd>-43\u003C\u002Ftd>\u003Ctd>-43\u003C\u002Ftd>\u003Ctd>-43\u003C\u002Ftd>\u003Ctd>-43\u003C\u002Ftd>\u003Ctd>-43\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Escritório da Administração\u003C\u002Ftd>\u003Ctd>-1.752\u003C\u002Ftd>\u003Ctd>-1.752\u003C\u002Ftd>\u003Ctd>-1.752\u003C\u002Ftd>\u003Ctd>-1.752\u003C\u002Ftd>\u003Ctd>-1.752\u003C\u002Ftd>\u003Ctd>-1.752\u003C\u002Ftd>\u003Ctd>-1.752\u003C\u002Ftd>\u003Ctd>-1.752\u003C\u002Ftd>\u003Ctd>-1.752\u003C\u002Ftd>\u003Ctd>-1.752\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Despesas Gerais\u003C\u002Ftd>\u003Ctd>-165\u003C\u002Ftd>\u003Ctd>-165\u003C\u002Ftd>\u003Ctd>-165\u003C\u002Ftd>\u003Ctd>-165\u003C\u002Ftd>\u003Ctd>-165\u003C\u002Ftd>\u003Ctd>-165\u003C\u002Ftd>\u003Ctd>-165\u003C\u002Ftd>\u003Ctd>-165\u003C\u002Ftd>\u003Ctd>-165\u003C\u002Ftd>\u003Ctd>-165\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Serviços Públicos\u003C\u002Ftd>\u003Ctd>-48\u003C\u002Ftd>\u003Ctd>-34\u003C\u002Ftd>\u003Ctd>-26\u003C\u002Ftd>\u003Ctd>-17\u003C\u002Ftd>\u003Ctd>-14\u003C\u002Ftd>\u003Ctd>-10\u003C\u002Ftd>\u003Ctd>-10\u003C\u002Ftd>\u003Ctd>-10\u003C\u002Ftd>\u003Ctd>-10\u003C\u002Ftd>\u003Ctd>-10\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>FPP\u003C\u002Ftd>\u003Ctd>-103\u003C\u002Ftd>\u003Ctd>-73\u003C\u002Ftd>\u003Ctd>-55\u003C\u002Ftd>\u003Ctd>-38\u003C\u002Ftd>\u003Ctd>-30\u003C\u002Ftd>\u003Ctd>-23\u003C\u002Ftd>\u003Ctd>-23\u003C\u002Ftd>\u003Ctd>-23\u003C\u002Ftd>\u003Ctd>-23\u003C\u002Ftd>\u003Ctd>-23\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Inadimplência Irrecuperável\u003C\u002Ftd>\u003Ctd>-1.606\u003C\u002Ftd>\u003Ctd>-946\u003C\u002Ftd>\u003Ctd>-519\u003C\u002Ftd>\u003Ctd>-338\u003C\u002Ftd>\u003Ctd>-241\u003C\u002Ftd>\u003Ctd>-127\u003C\u002Ftd>\u003Ctd>-127\u003C\u002Ftd>\u003Ctd>-127\u003C\u002Ftd>\u003Ctd>-127\u003C\u002Ftd>\u003Ctd>-127\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Resultado Operacional Líquido\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>3.519\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>5.595\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>6.935\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>7.990\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>8.807\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>9.574\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>9.574\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>9.574\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>9.574\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>9.574\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cbr>\u003Cstrong>Investimentos Totais\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cbr>\u003Cstrong>-402\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cbr>\u003Cstrong>-473\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cbr>\u003Cstrong>-415\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cbr>\u003Cstrong>-451\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cbr>\u003Cstrong>-361\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cbr>\u003Cstrong>-381\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cbr>\u003Cstrong>-381\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cbr>\u003Cstrong>-381\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cbr>\u003Cstrong>-381\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cbr>\u003Cstrong>-381\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Reposição do Ativo\u003C\u002Ftd>\u003Ctd>-402\u003C\u002Ftd>\u003Ctd>-473\u003C\u002Ftd>\u003Ctd>-415\u003C\u002Ftd>\u003Ctd>-451\u003C\u002Ftd>\u003Ctd>-361\u003C\u002Ftd>\u003Ctd>-381\u003C\u002Ftd>\u003Ctd>-381\u003C\u002Ftd>\u003Ctd>-381\u003C\u002Ftd>\u003Ctd>-381\u003C\u002Ftd>\u003Ctd>-381\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Resultado Líquido\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>3.118\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>5.122\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>6.519\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>7.539\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>8.446\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>9.192\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>9.192\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>9.192\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>9.192\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>9.192\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Perpetuidade\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>79.934\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Fluxo De Caixa\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>3.118\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>5.122\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>6.519\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>7.539\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>8.446\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>9.192\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>9.192\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>9.192\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>9.192\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>89.127\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cbr>\u003Cstrong>Taxa de Desconto\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cbr>\u003Cstrong>12,0\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cbr>\u003Cstrong>0%\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cbr>\u003C\u002Ftd>\u003Ctd>\u003Cbr>\u003C\u002Ftd>\u003Ctd>\u003Cbr>\u003C\u002Ftd>\u003Ctd>\u003Cbr>\u003C\u002Ftd>\u003Ctd>\u003Cbr>\u003C\u002Ftd>\u003Ctd>\u003Cbr>\u003C\u002Ftd>\u003Ctd>\u003Cbr>\u003C\u002Ftd>\u003Ctd>\u003Cbr>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Capitalização\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>11,5\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>0%\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Valor Total\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>R$ 65\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>.630\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7840\u002F7840.pdf-0040-00.png\">\u003C\u002Fp>\u003Ch5>\u003Cstrong>Especificação da Avaliação\u003C\u002Fstrong>\u003C\u002Fh5>\u003Cp>De acordo com as Normas Brasileiras NBR-14653-1, NBR 14653-2 e NBR 14653-4 - Avaliação de Bens da Associação Brasileira de Normas Técnicas – ABNT - o presente trabalho avaliatório apresentou Grau de Fundamentação conforme descrito a seguir:\u003C\u002Fp>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>\u003Cstrong>ABNT N\u003C\u002Fstrong>\u003Cbr>\u003Cstrong>GRAU D\u003C\u002Fstrong>\u003Cbr>\u003Cstrong>Tabela 4\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>BR 14653 -4 (Empreendimentos)\u003C\u002Fstrong>\u003Cbr>\u003Cstrong>E FUNDAMENTAÇÃO - Fluxo de C\u003C\u002Fstrong>\u003Cbr>\u003Cstrong>- Identificação de valor e indica\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cbr>\u003Cstrong>aixa Descontado (FCD)\u003C\u002Fstrong>\u003Cbr>\u003Cstrong>dores de viabilidade\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003C\u002Fth>\u003Cth>\u003C\u002Fth>\u003Cth>\u003C\u002Fth>\u003Cth>\u003C\u002Fth>\u003Cth>\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>\u003Cstrong>Item\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>Atividade\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>Para identificação de valor\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>Grau III\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>Grau II\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>Grau I\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>1\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>Análise operacional do\u003Cbr>empreendimento\u003C\u002Ftd>\u003Ctd>Ampla, com os elementos\u003Cbr>operacionais devidamente\u003Cbr>explicitados\u003C\u002Ftd>\u003Ctd>3\u003Cbr>\u003C\u002Ftd>\u003Ctd>Simplificada, com base nos\u003Cbr>indicadores operacionais\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>Sintética, com a\u003Cbr>apresentação dos\u003Cbr>indicadores básicos\u003Cbr>operacionais\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>2\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>Análise das séries históricas\u003Cbr>do empreendimento\u003C\u002Ftd>\u003Ctd>Com base em análise do\u003Cbr>processo estocástico para as\u003Cbr>variáveis-chave, em um\u003Cbr>período mínimo de 36 meses\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>Com base em análise\u003Cbr>determinística para um prazo\u003Cbr>mínimo de 24 meses\u003Cbr>2\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>Com base em análise\u003Cbr>quantitativa para um prazo\u003Cbr>mínimo de 12 meses\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>3\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>Análise setorial e diagnóstico\u003Cbr>de mercado\u003C\u002Ftd>\u003Ctd>De estrutura, conjuntura,\u003Cbr>tendências e conduta\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>Da conjuntura\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>Sintética da conjuntura\u003C\u002Ftd>\u003Ctd>1\u003Cbr>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>4\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>Taxas de desconto\u003C\u002Ftd>\u003Ctd>Fundamentada\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>Justificada\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>Arbitrada\u003C\u002Ftd>\u003Ctd>1\u003Cbr>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>5\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>Escolha do Modelo\u003C\u002Ftd>\u003Ctd>Probabilístico\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>Determinístico associado aos\u003Cbr>cenários\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>Determinístico\u003C\u002Ftd>\u003Ctd>1\u003Cbr>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>6\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>Estrutura básica do fluxo de\u003Cbr>caixa\u003C\u002Ftd>\u003Ctd>Completa\u003C\u002Ftd>\u003Ctd>3\u003Cbr>\u003C\u002Ftd>\u003Ctd>Simplificada\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>Rendas Líquidas\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>7\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>Cenários fundamentados\u003C\u002Ftd>\u003Ctd>Mínimo de 5\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>Mínimo de 3\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>Mínimo de 1\u003C\u002Ftd>\u003Ctd>1\u003Cbr>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>8\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>Análise de sensibilidade\u003C\u002Ftd>\u003Ctd>Simulações com\u003Cbr>apresentação do\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>Simulação com identificação\u003Cbr>de elasticidadepor variável\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>Simulação única com\u003Cbr>variação em torno de 10%\u003C\u002Ftd>\u003Ctd>1\u003Cbr>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>9\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>Análise de risco\u003C\u002Ftd>\u003Ctd>Risco fundamentado\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>Risco justificado\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>Risco arbitrado\u003C\u002Ftd>\u003Ctd>1\u003Cbr>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>Pontuação\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>14\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>GRAU DE F\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>UNDA\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>MENTAÇÃO (Para identificação de va\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>lor):\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>Grau I\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>\u003Cstrong>APÊNDICE B – EXPERIÊNCIA EMPRESA E RESPONSÁVEIS\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7840\u002F7840.pdf-0041-01.png\">\u003C\u002Fp>\u003Cp>ED\u003Cbr>EB BINSWANGER\u003Cbr>\u003C\u002Fp>\u003Cp>A Binswanger é uma organização internacional de consultoria imobiliária com mais de 80 anos de tradição. Criada nos Estados Unidos em 1931, a companhia assiste a clientes corporativos em mais de 100 países, nos cinco continentes.\u003C\u002Fp>\u003Cp>Durante os anos 1990, a consultoria iniciou um programa de expansão internacional, formando alianças estratégicas com organizações imobiliárias em todo o mundo, período em que se estabeleceu também no Brasil, maior mercado imobiliário da América Latina.\u003C\u002Fp>\u003Cp>Fundada em 1997, a Binswanger Brazil nasceu como escritório regional da rede, e em pouco mais de duas décadas se consolidou como uma das principais fornecedoras de serviços imobiliários para o mercado corporativo brasileiro.\u003C\u002Fp>\u003Cp>Com sede em São Paulo, a companhia conta atualmente com uma das melhores estruturas imobiliárias em operação no país e oferece assistência de alcance global para todo o território nacional em um balcão único para clientes em diversos setores da economia.\u003C\u002Fp>\u003Cp>Mais do que atender às necessidades de clientes, a Binswanger Brazil oferece linha completa de soluções imobiliárias e projetos personalizados para atender a todas as etapas dos processos imobiliários de seus parceiros de negócio.\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7840\u002F7840.pdf-0041-07.png\">\u003C\u002Fp>\u003Ch5>Isabela Monastersky (MRICS) - Diretora Técnica\u003C\u002Fh5>\u003Cp>Há mais de 20 anos no mercado imobiliário, Isabela possui ampla experiência nas áreas de avaliação, consultoria e transações imobiliárias. Nesse período, exerceu funções de liderança em empresas como Colliers, Newmark Knight Frank e Dworking. Possui MBA em Real Estate (USP-2010), e pós-graduação em Perícias de Engenharia e Avaliações (FAAP-1998), e ocupa - desde 2018 - a Diretoria de Consultoria e Avaliação, onde analisa portfólios imobiliários de grandes incorporadores, fundos imobiliários e de pensão e investidores.\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F7840\u002F7840.pdf-0042-00.png\">\u003C\u002Fp>\u003Cp>ED\u003Cbr>MD EINS WANÇER\u003Cbr>\u003C\u002Fp>\u003Ch3>\u003Cstrong>ANEXO – DOCUMENTAÇÃO DO IMÓVEL\u003C\u002Fstrong>\u003C\u002Fh3>\u003Cp>Em razão do tamanho dos arquivos, deixamos de incluir os anexos neste laudo. 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FARIA LIMA, 3.477 - 14º ANDAR, ITAIM BIBI - SÃO PAULO -SP","2026-10-03T19:08:14.000000Z",{"id":1150,"nome":1151,"cnpj":1152,"endereco":104,"telefone":105,"created_at":106,"updated_at":106},60,"UNITAS CONSULTORIA E EMPREENDIMENTOS LTDA.","61458998000167",{"ano_referencia":1154,"data_disponibilizacao":1155},"2025","2026-03-31",{"ResultadoFundo":1157,"ConjunturaEconomica":1158,"PerspectivaPeriodoSeguinte":1159},"O Fundo apresentou resultado positivo no exercício no valor de R$ 29.644.000,00 resultado das receitas de aluguéis, das aplicações financeiras, e pelo ajuste de valor patrimonial dos imóveis do Fundo.\nO Fundo distribuiu durante o exercício de 2025, o montante de R$ 43.285.000,00.\n","De acordo com dados publicados pela Buildings, o mercado de escritórios em São Paulo apresentou continuidade no processo de recuperação ao longo de 2025, com indicadores positivos de absorção e elevação dos valores de locação no segmento de edifícios corporativos de alto padrão. Segundo levantamento da consultoria, a absorção líquida de escritórios Classe A e A+ registrou aproximadamente 110 mil m² no quarto trimestre, enquanto no acumulado do ano alcançou cerca de 358 mil m², refletindo a retomada da demanda por espaços corporativos de maior qualidade.\n\nNo mesmo período, segundo dados apresentados pela Jones Lang LaSalle (JLL)  o mercado corporativo da cidade apresentou redução gradual da taxa de vacância e elevação dos valores pedidos de locação. Os dados indicam que a taxa de vacância do segmento de escritórios de alto padrão encerrou 2025 em torno de 14,7%, ao passo que o preço médio pedido de locação atingiu aproximadamente R$ 117\u002Fm², representando crescimento em relação ao ano anterior.\n\nSegundo publicação da Buildings, no segmento de escritórios, que engloba todas as classes, São Paulo registrou 130 mil m² de absorção líquida positiva no 4º trimestre de 2025. Um crescimento significativo em comparação aos 68 mil m² do trimestre anterior.\n\nDados publicados pelo SECOVI SP corroboram as informações acima, indicando que o mercado de escritórios de São Paulo demonstrou um forte dinamismo no quarto trimestre de 2025, o que impulsionou o acumulado do ano para o segundo melhor resultado dos últimos cinco anos na cidade.\n\nAinda segundo dados publicados pela Colliers, determinadas regiões corporativas consolidadas da cidade continuam concentrando a maior parte da demanda por escritórios, especialmente eixos tradicionais como Faria Lima, Juscelino Kubitschek, Paulista e Berrini, onde a disponibilidade de áreas permanece mais restrita em comparação com outras regiões de São Paulo. Esse cenário contribui para a manutenção de níveis mais elevados de preço de locação e para o direcionamento de parte da demanda para novos eixos corporativos.","Com a consolidação da retomada do trabalho presencial, espera-se a continuidade da valorização dos aluguéis e a manutenção da baixa taxa de vacância.\nDados publicados pela CBRE indicam que as regiões mais consolidadas como Faria Lima, Juscelino Kubitschek e Paulista devem manter alto índice de absorção.\n\nA estratégia do fundo tem se mostrado assertiva ao oferecer lajes no conceito plug and play, um modelo com CAPEX zero para o locatário, que paga ao longo do período de locação o valor agregado no preço da locação, pela readequação do imóvel para seu uso. A demanda por esse modelo de locação tem apresentado crescimento constante.\nO portfólio do fundo possui maior concentração nas regiões mais consolidadas e líquidas do mercado de escritórios, tais como  Vila Olímpia, no entorno da Faria Lima, Paulista e Brooklin, tendo iniciado expansão pontual e seletiva para outros bairros. \n\nNesse cenário, e considerando que os imóveis do fundo possuem contratos de locação atípicos, caracterizados por longos prazos de vigência e multas rescisórias mais elevadas, a expectativa é de que o fundo mantenha uma receita de locação harmônica e uma alta taxa de ocupação.\n\nA ocupação do edifício recém adquirido localizado na Avenida Angélica, está planejada para ocorrer em um horizonte de aproximadamente oito meses."]