[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"seo:\u002Fdetalhes\u002FFPNG11\u002Fdocumentos\u002F3477":3,"documento:FPNG11:3477":86,"fii-documento:FPNG11":94},{"title":4,"description":5,"canonical":6,"image":7,"json_ld":8,"nome":33,"resumo":79},"Laudo de Avaliação (Conclusão de Negócio) FPNG11 de 30\u002F11\u002F2025 | Kartac","Laudo de Avaliação (Conclusão de Negócio) de 30\u002F11\u002F2025 do FPNG11 (Pedra Negra Renda Imobiliária), entrega em 04\u002F03\u002F2026. 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DE TÍTULOS E VALORES MOBILIÁRIOS S\u002FA","https:\u002F\u002Ffnet.bmfbovespa.com.br\u002Ffnet\u002Fpublico\u002FdownloadDocumento?id=1128459",{"@type":50,"@id":36,"name":51,"alternateName":52,"url":55,"category":56,"identifier":57,"provider":62},"InvestmentFund","Pedra Negra Renda Imobiliária",[53,54],"FPNG11","FUNDO DE INVESTIMENTO IMOBILIÁRIO PEDRA NEGRA RENDA IMOBILIÁRIA - RESPONSABILIDADE LIMITADA","https:\u002F\u002Fwww.kartac.com.br\u002Fdetalhes\u002FFPNG11","Híbrido",[58,60],{"@type":43,"propertyID":59,"value":53},"Ticker B3",{"@type":43,"propertyID":44,"value":61},"17.161.979\u002F0001-82",{"@type":12,"name":41,"identifier":63},{"@type":43,"propertyID":44,"value":45},{"@type":65,"@id":30,"itemListElement":66},"BreadcrumbList",[67,71,75,77],{"@type":68,"position":69,"name":70,"item":15},"ListItem",1,"Início",{"@type":68,"position":72,"name":73,"item":74},2,"FIIs","https:\u002F\u002Fwww.kartac.com.br\u002Franking",{"@type":68,"position":76,"name":53,"item":55},3,{"@type":68,"position":78,"name":34,"item":6},4,{"atualizado_em":80,"frases":81},"2026-11-05",[82,83,84,85],"Laudo de Avaliação (Conclusão de Negócio) do Pedra Negra Renda Imobiliária (FPNG11), fundo imobiliário híbrido, com data de referência em 30\u002F11\u002F2025, com entrega no FundosNet (B3) em 04\u002F03\u002F2026.","No pregão de 15\u002F10\u002F2026, a cota do FPNG11 fechou a R$ 344,99, com P\u002FVP de 1,58 (valor patrimonial de R$ 218,37 por cota no informe mensal de setembro de 2026).","O patrimônio líquido era de R$ 664,6 milhões no informe mensal de setembro de 2026.","Os indicadores são os mais recentes da base do Kartac, não os do período do documento.",{"id":87,"descricao":34,"assunto":88,"tipo":37,"situacao":89,"texto":90,"link_pdf":91,"estruturado":92,"link_original":48,"data_referencia":39,"data_entrega":93,"versao":69},3477,"","(Ativo)","\u003Cp>\u002F>\u003C\u002Fp>\u003Ch2>\u003Cstrong>Laudo de Avaliação\u003C\u002Fstrong>\u003C\u002Fh2>\u003Cp>\u003Cstrong>Shopping DiamondMall Avenida Olegário Maciel, 1600 – Santo Agostinho Belo Horizonte \u002F MG\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>FUNDO DE INVESTIMENTO IMOBILIÁRIO PEDRA NEGRA RENDA IMOBILIÁRIA – RESPONSABILIDADE LIMITADA (CNPJ\u002FMF Nº 17.161.979\u002F0001-82) REPRESENTADO PELA BR CAPITAL\u003C\u002Fp>\u003Cp>Ref.: 25_58060_7\u003C\u002Fp>\u003Cp>\u003Cstrong>Novembro de 2025\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 2986.1101 www.binswangerbrazil.com.br\u003C\u002Fp>\u003Cp>\u002F>\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0002-00.png\">\u003C\u002Fp>\u003Cp>ED\u003Cbr>MDS INSWANÇER\u003Cbr>\u003C\u002Fp>\u003Cp>São Paulo, 1º de novembro de 2025\u003C\u002Fp>\u003Ch5>\u003Cstrong>BR Capital\u003C\u002Fstrong>\u003C\u002Fh5>\u003Cp>A\u002FC\u003C\u002Fp>\u003Ch5>\u003Cstrong>Alessandra Michetti\u003C\u002Fstrong>\u003C\u002Fh5>\u003Cp>\u003Cem>\u003Cu>alessandra.michetti@brcapital.com.br\u003C\u002Fu>\u003C\u002Fem>\u003C\u002Fp>\u003Cp>\u003Cstrong>\u003Cem>REF: Shopping Center localizado na Avenida Olegário Maciel, 1600 – Santo Agostinho – Belo Horizonte \u002F MG\u003C\u002Fem>\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>Atendendo à solicitação da BR CAPITAL, a BINSWANGER BRAZIL efetuou a avaliação do imóvel em referência, determinando seus valores de mercado para venda na data-base 1º de novembro de 2025.\u003C\u002Fp>\u003Cp>No relatório anexo descrevemos a propriedade em estudo, bem como a metodologia utilizada para o cálculo dos valores.\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: 2026.01.20 14:00:43 -03'00' Isabela Dora Costa Monastersky - MRICS BINSWANGER BRAZIL\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0002-13.png\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.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\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>\u003Cstrong>4.\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>CARACTERIZAÇÃO DOIMÓVEL .......................................................................11\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>4.1.\u003C\u002Ftd>\u003Ctd>Quadro de Áreas ................................................................................................................... 11\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>4.2.\u003C\u002Ftd>\u003Ctd>Descrição do Imóvel .............................................................................................................. 17\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>4.3.\u003C\u002Ftd>\u003Ctd>Histórico de Propriedade ...................................................................................................... 26\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>5.\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>MERCADOIMOBILIÁRIO NAREGIÃO ...............................................................27\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>5.1.\u003C\u002Ftd>\u003Ctd>Shoppings Centers ................................................................................................................. 28\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>6.\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>ANÁLISE DAOPERAÇÃO...............................................................................39\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>6.1.\u003C\u002Ftd>\u003Ctd>Aluguel Mínimo ..................................................................................................................... 39\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>6.2.\u003C\u002Ftd>\u003Ctd>Aluguéis Percentuais \u002F Complementares .............................................................................. 42\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>6.3.\u003C\u002Ftd>\u003Ctd>Receita de Estacionamento ................................................................................................... 44\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>6.4.\u003C\u002Ftd>\u003Ctd>Vacância ................................................................................................................................ 45\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>6.5.\u003C\u002Ftd>\u003Ctd>Despesas ................................................................................................................................ 46\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>6.6.\u003C\u002Ftd>\u003Ctd>Resultado Líquido Operacional ............................................................................................. 47\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>6.7.\u003C\u002Ftd>\u003Ctd>Resultado Líquido .................................................................................................................. 47\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>7.\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>METODOLOGIAEMPREGADA ........................................................................48\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>8.\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>CÁLCULO DOVALOR DOIMÓVEL ....................................................................49\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>8.1.\u003C\u002Ftd>\u003Ctd>Áreas Adotadas - ABL ............................................................................................................ 49\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>8.2.\u003C\u002Ftd>\u003Ctd>Aluguel Mínimo e Percentual \u002F Complementar .................................................................... 54\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>8.3.\u003C\u002Ftd>\u003Ctd>Crescimentos Previstos ......................................................................................................... 55\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>8.4.\u003C\u002Ftd>\u003Ctd>Cessão de Direito de Uso (CDU) e Taxa de Transferência ..................................................... 56\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>8.5.\u003C\u002Ftd>\u003Ctd>Mall & Merchandising ........................................................................................................... 56\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>8.6.\u003C\u002Ftd>\u003Ctd>Receita de Estacionamento Líquida ...................................................................................... 56\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>8.7.\u003C\u002Ftd>\u003Ctd>Vacância ................................................................................................................................ 56\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>8.8.\u003C\u002Ftd>\u003Ctd>Inadimplência Irrecuperável ................................................................................................. 56\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>8.9.\u003C\u002Ftd>\u003Ctd>Despesas Gerais .................................................................................................................... 57\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>8.10\u003C\u002Ftd>\u003Ctd>. Investimentos \u002F FRA .............................................................................................................. 57\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>8.11\u003C\u002Ftd>\u003Ctd>. Turnover ................................................................................................................................ 57\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>8.12\u003C\u002Ftd>\u003Ctd>. CAPEX .................................................................................................................................... 57\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>8.13\u003C\u002Ftd>\u003Ctd>. Arrendamento ....................................................................................................................... 58\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>8.14\u003C\u002Ftd>\u003Ctd>. Cálculo do Valor do Imóvel ................................................................................................... 58\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>8.15\u003C\u002Ftd>\u003Ctd>. Fluxo de Caixa da Projeção das Receitas, Despesas e Investimentos –DiamondMall .......... 59\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>8.16\u003C\u002Ftd>\u003Ctd>. Fluxo de Caixa da Projeção das Receitas, Despesas e Investimentos –FII Pedra Negra ....... 60\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>9.\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>CONCLUSÃO DAAVALIAÇÃO .........................................................................61\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>APÊND\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>ICEA – AVALIAÇÃO– SHOPPINGCENTER ........................................................62\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>ANEX\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>O– DOCUMENTAÇÃO DOIMÓVEL ...................................................................65\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0004-00.png\">\u003C\u002Fp>\u003Ch3>\u003Cstrong>SUMÁRIO\u003C\u002Fstrong>\u003C\u002Fh3>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>\u003Cstrong>INTERESSADO\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>BR Capital\u003C\u002Fth>\u003Cth>\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>\u003Cstrong>PROPRIETÁRIO\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>24,95% FII Pedra Neg\u003Cbr>75,05% Grupo Multip\u003C\u002Ftd>\u003Ctd>ra\u003Cbr>lan\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\u003C\u002Ftd>\u003Ctd>Venda\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 DiamondM\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>all\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>TIPOLOGIA\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>Shopping\u003C\u002Fstrong> \u003Cstrong>Center\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>OBJETO\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>Endereço\u003C\u002Ftd>\u003Ctd>Avenida Olegário Maciel, 1600\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003C\u002Ftd>\u003Ctd>Bairro\u003C\u002Ftd>\u003Ctd>Santo Agostinho\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003C\u002Ftd>\u003Ctd>Cidade\u002FUF\u003C\u002Ftd>\u003Ctd>Belo Horizonte \u002F MG\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003C\u002Ftd>\u003Ctd>Área de Terreno\u003C\u002Ftd>\u003Ctd>13.352,00 m²\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003C\u002Ftd>\u003Ctd>Área Construída\u003C\u002Ftd>\u003Ctd>74.614,23 m²\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003C\u002Ftd>\u003Ctd>Área Bruta Locável\u003C\u002Ftd>\u003Ctd>24.190,57 m²\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003C\u002Ftd>\u003Ctd>Vagas Garagem\u003C\u002Ftd>\u003Ctd>1.047\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>DATA VISTORIA\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>01\u002F10\u002F2025\u003C\u002Ftd>\u003Ctd>\u003Cstrong>DATA BASE\u003C\u002Fstrong>\u003Cbr>1º de novembro de 2025\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>\u003Cstrong>\u003Cem>O relatório baseou-se no demonstrativo de resultados até 31 de agosto de 2025.\u003C\u002Fem>\u003C\u002Fstrong>\u003C\u002Fp>\u003Ch4>\u003Cstrong>CONCLUSÃO DE VALOR\u003C\u002Fstrong>\u003C\u002Fh4>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>\u003Cstrong>VALOR VENDA\u003C\u002Fstrong>\u003Cbr>\u003Cstrong>TOTAL\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>100%\u003C\u002Fth>\u003Cth>(Renda - Fluxo\u003Cbr>de Caixa)\u003C\u002Fth>\u003Cth>\u003Cstrong>R$ 1.170.650.000\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Um Bilhão, Cento\u003C\u002Fstrong>\u003Cbr>\u003Cstrong>Seiscentos E Cinquenta\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>E Setenta Milhões,\u003C\u002Fstrong>\u003Cbr>\u003Cstrong>Mil Reais\u003C\u002Fstrong>\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>\u003Cstrong>PARTICIPAÇÃO\u003C\u002Fstrong>\u003Cbr>\u003Cstrong>FII PEDRA NEGRA\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>24,95%\u003C\u002Ftd>\u003Ctd>(Renda - Fluxo\u003Cbr>de Caixa)\u003C\u002Ftd>\u003Ctd>\u003Cstrong>R$ 226.832.000\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>Duzentos E Vinte E Seis\u003C\u002Fstrong>\u003Cbr>\u003Cstrong>Trinta E Dois Mil Reais\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>Milhões, Oitocentos E\u003C\u002Fstrong>\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\u002F3477\u002F3477.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>BR Capital\u003C\u002Fstrong> solicitou à Binswanger a avaliação de um Shopping Center, determinando seu Valor Justo para Venda (Fair Value), na data-base de novembro de 2025, visando a suportar decisões gerenciais.\u003C\u002Fp>\u003Ch4>\u003Cstrong>1.2. CONSIDERAÇÕES INICIAIS\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>Visando a atender ao objetivo solicitado, realizamos vistoria interna do imóvel, 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 foi possível 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>\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\u003C\u002Fp>\u003C\u002Fli>\u003C\u002Ful>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0006-00.png\">\u003C\u002Fp>\u003Cp>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>\u003Cul>\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$) e para a data base de seus cálculos;\u003C\u002Fp>\u003C\u002Fli>\u003Cli>\u003Cp>✓ Essa avaliação não deve ser utilizada para qualquer outra finalidade que não a mencionada no “Sumário Executivo” deste relatório.\u003C\u002Fp>\u003C\u002Fli>\u003Cli>\u003Cp>✓ O presente relatório analisa o imóvel e sua operação, neste sentido não foi verificada a estrutura de endividamento do empreendimento em questão.\u003C\u002Fp>\u003C\u002Fli>\u003Cli>\u003Cp>✓ O valor de avaliação considera que não haverá alteração das condições econômicas e de mercado entre a data de execução e entrega do laudo e a data-base da avaliação, assim como a propriedade se manterá nas condições em que se encontra hoje.\u003C\u002Fp>\u003C\u002Fli>\u003C\u002Ful>\u003Ch4>\u003Cstrong>1.4. EVENTOS SUBSEQUENTES\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>Essa avaliação não reflete qualquer evento que possa ocorrer entre a data-base e a data deste relatório. A Binswanger Brazil não é obrigada a atualizar os valores deste relatório após a data de emissão.\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0007-00.png\">\u003C\u002Fp>\u003Ch3>\u003Cstrong>2. DOCUMENTAÇÃO\u003C\u002Fstrong>\u003C\u002Fh3>\u003Cp>Esta avaliação foi embasada nos seguintes documentos recebidos do contratante:\u003C\u002Fp>\u003Ch6>\u003Cstrong>Contrato de Arrendamento\u003C\u002Fstrong>\u003C\u002Fh6>\u003Cp>Outorgante: Clube Atlético Mineiro Consórcio MTS\u002FIBR: Multishopping Empreendimentos Imobiliários AS e Outorgado: IBR Administração, Participação e Comércio AS Data de Início: 28 de julho de 1992 Prazo: 30 de novembro de 2030\u003C\u002Fp>\u003Cul>\u003Cli>\u003Cp>Maior entre:\u003C\u002Fp>\u003Cul>\u003Cli>Aluguel Mínimo: R$ 115.203,52 (valor de 20 de janeiro 2020)\u003C\u002Fli>\u003C\u002Ful>\u003C\u002Fli>\u003Cli>\u003Cp>Aluguel Percentual: 15% dos aluguéis de lojas “stands” ou áreas do centro de compras;\u003C\u002Fp>\u003C\u002Fli>\u003Cli>\u003Cp>Arrendamento: ▪ 10% da receita bruta decorrente da exploração do Shopping a título de “cessão de direitos de uso”;\u003C\u002Fp>\u003C\u002Fli>\u003Cli>\u003Cp>▪ 15% dos aluguéis recebidos em decorrência da sublocação do estacionamento.\u003C\u002Fp>\u003C\u002Fli>\u003C\u002Ful>\u003Ch6>\u003Cstrong>Outros documentos:\u003C\u002Fstrong>\u003C\u002Fh6>\u003Cp>Plantas Comerciais data-base 15 de setembro de 2025 Resumo de Receitas e Despesas com data-base agosto\u002F2025 Demonstrativo de Vacância data-base agosto\u002F2025 Demonstrativo de Inadimplência data-base agosto\u002F2025 Resumo de Locações data-base agosto\u002F2025 Demonstrativo de Investimentos data-base agosto\u002F2025\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0008-00.png\">\u003C\u002Fp>\u003Cp>ED E\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\u002F3477\u002F3477.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>✓ 600 metros da Praça Carlos Chagas;\u003C\u002Fp>\u003C\u002Fli>\u003Cli>\u003Cp>✓ 800 metros do Mercado Central de Belo Horizonte;\u003C\u002Fp>\u003C\u002Fli>\u003Cli>\u003Cp>✓ 1,4 km da Praça da Liberdade;\u003C\u002Fp>\u003C\u002Fli>\u003Cli>\u003Cp>✓ 1,6 km da Avenida do Contorno; e\u003C\u002Fp>\u003C\u002Fli>\u003Cli>\u003Cp>✓ 2,2 km do Pátio Savassi.\u003C\u002Fp>\u003C\u002Fli>\u003C\u002Ful>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0009-00.png\">\u003C\u002Fp>\u003Cp>EB WANGER\u003Cbr>EB BINS BRAZIL\u003Cbr>\u003C\u002Fp>\u003Ch4>\u003Cstrong>3.2. ENTORNO\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0009-02.png\">\u003C\u002Fp>\u003Cp>Heard[AS (ORO 1h PR RR SA NO Siguo À)\u003Cbr>eloaPope Epselle]' LONAVÊ TDRQu) alisaa etDR dirSa MD NAe ADS,ar38 Craya JÁPARÃO\u003Cbr>=: a PRA NCIA, E re DR TOR DS SO aEr SR\u003Cbr>EC Kopent abensrometo? À EAD SE 4 PERDE pl sk AJ SES tm e\u003Cbr>dl Ê y ,\u003Cbr>[afRa rurquesae NGSE doN pa TR, Etas AG2 foi AoNo AvaliandoTasDM A AR laPA O HIgris A vi Typata ANLa ori\u003Cbr>up dor Rin RR E TES FE\u003Cbr>ratie Ei vi NR marcorua do TE ano Wa DA e R O be COI Sd\u003Cbr>Pg: ENA RE o Jeioga ER AU Hg) ta GAR» to ENA o pese\u003Cbr>CR RR DR RO eo ROVER\u003Cbr>O\u003Cbr>EARRa e TN apa OD en O ÃO METoANTERa ET2NiR Esa\u003Cbr>a hr) ad suar -s Pé Ve pve Sp 183, e cd\u003Cbr>PEDAÇOQU RER a eA TA E\u003Cbr>E a 7 gas Des IA da AO\u003Cbr>e Ve REAR dy pi vin TR a DO da OAg SE Er da\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>Misto\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>\u003Cstrong>Densidade de Ocupação:\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>Vertical - Alta\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Padrão Econômico:\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>Alto\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 de polo comercial \u002F hotel \u002F transporte público \u002F escolas \u002F clubes\u003Cbr>esportivos \u002F hospitais\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Polos Desvalorizantes:\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>Não observado\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Vocação:\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>Shopping Center\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\u002F3477\u002F3477.pdf-0010-00.png\">\u003C\u002Fp>\u003Cp>EB B\u003Cbr>EB INSWANGER\u003Cbr>\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>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>\u003C\u002Fth>\u003Cth>Abastecimento de água\u003C\u002Fth>\u003Cth>\u003Cbr>Energia elétrica\u003C\u002Fth>\u003Cth>\u003Cbr>Escolas\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>\u003C\u002Ftd>\u003Ctd>Cisterna \u002F Poço Artesiano\u003C\u002Ftd>\u003Ctd>\u003Cbr>Iluminação pública\u003C\u002Ftd>\u003Ctd>\u003Cbr>Correio\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003C\u002Ftd>\u003Ctd>Esgoto pluvial\u003C\u002Ftd>\u003Ctd>\u003Cbr>Telefone\u003C\u002Ftd>\u003Ctd>\u003Cbr>Posto policial\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003C\u002Ftd>\u003Ctd>Esgoto sanitário\u003C\u002Ftd>\u003Ctd>\u003Cbr>Fibra ótica\u003C\u002Ftd>\u003Ctd>\u003Cbr>Serviços médicos\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003C\u002Ftd>\u003Ctd>Fossa\u003C\u002Ftd>\u003Ctd>\u003Cbr>Arborização\u003C\u002Ftd>\u003Ctd>\u003Cbr>Recreação e lazer\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003C\u002Ftd>\u003Ctd>Gás canalizado\u003C\u002Ftd>\u003Ctd>\u003Cbr>Transporte público\u003C\u002Ftd>\u003Ctd>\u003Cbr>Comércio local\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003C\u002Ftd>\u003Ctd>Coleta de lixo\u003C\u002Ftd>\u003Ctd>Aeroporto\u003C\u002Ftd>\u003Ctd>\u003Cbr>Agências Bancárias\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003C\u002Ftd>\u003Ctd>Pavimentação\u003C\u002Ftd>\u003Ctd>Rodoviária\u003C\u002Ftd>\u003Ctd>\u003Cbr>Shopping Center\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Ch4>\u003Cstrong>FOTOS DE ACESSOS\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0010-05.png\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0010-06.png\">\u003C\u002Fp>\u003Cp>Avenida Olegário Maciel\u003C\u002Fp>\u003Cp>Avenida Olegário Maciel\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0011-00.png\">\u003C\u002Fp>\u003Cp>ED\u003Cbr>MDS INSWANÇER\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>\u003C\u002Fth>\u003Cth>\u003Cstrong>Área de terreno\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Área Construída\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Área Bruta Locável\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>°\u003C\u002Fstrong>\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>\u003Cstrong>Documentos\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>(m²)\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>(m²)\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>(m²)\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>N de Vagas\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Planta\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>n\u002Fi\u003C\u002Ftd>\u003Ctd>n\u002Fi\u003C\u002Ftd>\u003Ctd>24.190,57\u003C\u002Ftd>\u003Ctd>n\u002Fi\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Rent Roll\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>n\u002Fi\u003C\u002Ftd>\u003Ctd>n\u002Fi\u003C\u002Ftd>\u003Ctd>24.190,57\u003C\u002Ftd>\u003Ctd>n\u002Fi\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>ABRASCE\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>13.352,00\u003C\u002Ftd>\u003Ctd>74.614,23\u003C\u002Ftd>\u003Ctd>24.190,57\u003C\u002Ftd>\u003Ctd>1.047\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>ADOTADA EM CÁLCULO\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>13.352,00\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>74.614,23\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>24.190,57\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>1.047\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 demostrado 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>\u003Cstrong>Âncoras\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>4.717,72\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-25\u002FGD-25\u002FGD-26\u003C\u002Ftd>\u003Ctd>Cinemark\u003C\u002Ftd>\u003Ctd>2.169,92\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>M-01\u002F38\u003C\u002Ftd>\u003Ctd>Empório Verdemar\u003C\u002Ftd>\u003Ctd>1.365,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>GD-01A\u002FGD-07\u003C\u002Ftd>\u003Ctd>Renner\u003C\u002Ftd>\u003Ctd>1.182,80\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Mega Lojas\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>1.626,79\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>GD-22\u003C\u002Ftd>\u003Ctd>Fast Shop\u003C\u002Ftd>\u003Ctd>671,15\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>GD-47\u003C\u002Ftd>\u003Ctd>Pobre Juan\u003C\u002Ftd>\u003Ctd>494,41\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-16 a 19A\u002F21\u002F22\u002F23\u003C\u002Ftd>\u003Ctd>Outback Steakhouse\u003C\u002Ftd>\u003Ctd>461,23\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Satélites\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>15.890,76\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-13\u002F14\u002F15\u003C\u002Ftd>\u003Ctd>Drogaria Araujo\u003C\u002Ftd>\u003Ctd>444,66\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>RS-01\u003C\u002Ftd>\u003Ctd>Dolce & Gabbana\u003C\u002Ftd>\u003Ctd>376,85\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>RS-36\u002F37\u003C\u002Ftd>\u003Ctd>Su\u003C\u002Ftd>\u003Ctd>376,84\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>GD-08\u003C\u002Ftd>\u003Ctd>Camicado\u003C\u002Ftd>\u003Ctd>348,62\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>RS-02\u003C\u002Ftd>\u003Ctd>Empório Armani\u003C\u002Ftd>\u003Ctd>311,49\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>RS-35\u003C\u002Ftd>\u003Ctd>Zucco Cucina\u003C\u002Ftd>\u003Ctd>307,93\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>GD-13\u003C\u002Ftd>\u003Ctd>Leitura\u003C\u002Ftd>\u003Ctd>281,10\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>GD-05\u002F06\u003C\u002Ftd>\u003Ctd>La Ville\u003C\u002Ftd>\u003Ctd>280,63\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>RS-09\u003C\u002Ftd>\u003Ctd>Nati Vozza\u003C\u002Ftd>\u003Ctd>275,08\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-01\u002F02\u003C\u002Ftd>\u003Ctd>Iplace\u003C\u002Ftd>\u003Ctd>271,92\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-25\u002F26\u002F27\u003C\u002Ftd>\u003Ctd>Cabanã Porteña\u003C\u002Ftd>\u003Ctd>244,87\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>RS-19\u002F20\u002F21A\u003C\u002Ftd>\u003Ctd>Alo Yoga\u003C\u002Ftd>\u003Ctd>234,06\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-21A\u002F22\u002F22B\u003C\u002Ftd>\u003Ctd>Adidas\u003C\u002Ftd>\u003Ctd>221,52\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>RS-15A\u003C\u002Ftd>\u003Ctd>Charth\u003C\u002Ftd>\u003Ctd>207,21\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-21\u003C\u002Ftd>\u003Ctd>Brooksfield\u003C\u002Ftd>\u003Ctd>205,60\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>RS-23\u002F24\u003C\u002Ftd>\u003Ctd>Ch Carolina Herrera\u003C\u002Ftd>\u003Ctd>204,82\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>RS-38\u003C\u002Ftd>\u003Ctd>Lagar Tragaluz\u003C\u002Ftd>\u003Ctd>193,70\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0012-00.png\">\u003C\u002Fp>\u003Cp>ED\u003Cbr>MDS INSWANÇER\u003Cbr>\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>RS-13\u002F14\u003C\u002Ftd>\u003Ctd>Cris Barros\u003C\u002Ftd>\u003Ctd>191,40\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-22A\u003C\u002Ftd>\u003Ctd>New Balance\u003C\u002Ftd>\u003Ctd>181,03\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>GD-11\u003C\u002Ftd>\u003Ctd>Shoulder\u003C\u002Ftd>\u003Ctd>167,56\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-30\u003C\u002Ftd>\u003Ctd>Pecorino\u003C\u002Ftd>\u003Ctd>166,35\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>GD-10\u003C\u002Ftd>\u003Ctd>Estripulia\u003C\u002Ftd>\u003Ctd>164,62\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>GD-04\u003C\u002Ftd>\u003Ctd>Track & Field\u003C\u002Ftd>\u003Ctd>164,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>GD-48\u003C\u002Ftd>\u003Ctd>Caravela\u003C\u002Ftd>\u003Ctd>157,25\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-31\u002F32\u002F33\u003C\u002Ftd>\u003Ctd>Hugo Boss\u003C\u002Ftd>\u003Ctd>152,50\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>RS-12\u003C\u002Ftd>\u003Ctd>Agilitá\u003C\u002Ftd>\u003Ctd>152,41\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>GD-09\u003C\u002Ftd>\u003Ctd>Via Veneto\u003C\u002Ftd>\u003Ctd>151,41\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>RS-10\u002F11\u003C\u002Ftd>\u003Ctd>Pat Bo\u003C\u002Ftd>\u003Ctd>147,40\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-54\u002F55\u002F56\u003C\u002Ftd>\u003Ctd>Cacau Show\u003C\u002Ftd>\u003Ctd>140,95\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>GD-14\u002F15\u003C\u002Ftd>\u003Ctd>Diesel\u003C\u002Ftd>\u003Ctd>140,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-24\u002F24A\u003C\u002Ftd>\u003Ctd>Kimmiso\u003C\u002Ftd>\u003Ctd>134,33\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-11\u002F12\u003C\u002Ftd>\u003Ctd>M.Martan\u003C\u002Ftd>\u003Ctd>134,32\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>GD-16\u002F17\u003C\u002Ftd>\u003Ctd>Ave Rara\u003C\u002Ftd>\u003Ctd>134,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>GD-20\u002F21\u003C\u002Ftd>\u003Ctd>Planeta Imaginário\u003C\u002Ftd>\u003Ctd>134,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-19\u002F20\u003C\u002Ftd>\u003Ctd>Casa Almeida\u003C\u002Ftd>\u003Ctd>132,51\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-10\u003C\u002Ftd>\u003Ctd>Richards\u003C\u002Ftd>\u003Ctd>129,51\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>GD-23\u002F24\u003C\u002Ftd>\u003Ctd>Pb Kids\u003C\u002Ftd>\u003Ctd>127,18\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>RS-17\u002F18\u003C\u002Ftd>\u003Ctd>Iorane\u003C\u002Ftd>\u003Ctd>125,50\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-42\u002F43\u003C\u002Ftd>\u003Ctd>Mc Donald'S\u003C\u002Ftd>\u003Ctd>125,31\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-14\u002F15\u003C\u002Ftd>\u003Ctd>Osklen\u003C\u002Ftd>\u003Ctd>121,74\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-33\u002F34\u003C\u002Ftd>\u003Ctd>Lm Studio\u003C\u002Ftd>\u003Ctd>116,82\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>RS-21\u002F22\u003C\u002Ftd>\u003Ctd>Tory Burch\u003C\u002Ftd>\u003Ctd>112,12\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-38\u003C\u002Ftd>\u003Ctd>Dona Conceição\u003C\u002Ftd>\u003Ctd>110,44\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-12\u002F13\u003C\u002Ftd>\u003Ctd>Reserva\u003C\u002Ftd>\u003Ctd>110,40\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-03\u002F04\u003C\u002Ftd>\u003Ctd>Vivo\u003C\u002Ftd>\u003Ctd>108,66\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-11\u003C\u002Ftd>\u003Ctd>Beleza Na Web\u003C\u002Ftd>\u003Ctd>108,32\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-85\u002F86\u003C\u002Ftd>\u003Ctd>Aramis\u003C\u002Ftd>\u003Ctd>107,31\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-09\u002F10\u003C\u002Ftd>\u003Ctd>Claro\u003C\u002Ftd>\u003Ctd>106,73\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-82\u002F83\u003C\u002Ftd>\u003Ctd>H. Stern\u003C\u002Ftd>\u003Ctd>106,65\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-29\u003C\u002Ftd>\u003Ctd>Eddie Fine Burger\u003C\u002Ftd>\u003Ctd>106,31\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-40\u002F41\u003C\u002Ftd>\u003Ctd>Arezzo\u003C\u002Ftd>\u003Ctd>104,98\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-61\u002F62\u002F63\u003C\u002Ftd>\u003Ctd>Bel Cosméticos\u003C\u002Ftd>\u003Ctd>104,94\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-63\u002F64\u003C\u002Ftd>\u003Ctd>Vivara\u003C\u002Ftd>\u003Ctd>104,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-06\u002F07\u003C\u002Ftd>\u003Ctd>Lizie\u003C\u002Ftd>\u003Ctd>102,24\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-30\u002F31\u002F32\u003C\u002Ftd>\u003Ctd>K9\u003C\u002Ftd>\u003Ctd>97,33\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>RS-15\u003C\u002Ftd>\u003Ctd>One Up\u003C\u002Ftd>\u003Ctd>96,89\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-74\u002F75\u003C\u002Ftd>\u003Ctd>Brooksfield Donna\u003C\u002Ftd>\u003Ctd>94,31\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>GD-29\u002F36\u003C\u002Ftd>\u003Ctd>Mob\u003C\u002Ftd>\u003Ctd>92,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-02\u002F03\u003C\u002Ftd>\u003Ctd>Luxe\u003C\u002Ftd>\u003Ctd>91,75\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0013-00.png\">\u003C\u002Fp>\u003Cp>ED\u003Cbr>MDS INSWANÇER\u003Cbr>\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>OM-66\u002F67\u003C\u002Ftd>\u003Ctd>Água De Coco\u003C\u002Ftd>\u003Ctd>90,73\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-44\u002F44A\u002F45\u003C\u002Ftd>\u003Ctd>Tim\u003C\u002Ftd>\u003Ctd>90,54\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-49\u002F50\u003C\u002Ftd>\u003Ctd>Colcci\u003C\u002Ftd>\u003Ctd>86,94\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>GD-03\u003C\u002Ftd>\u003Ctd>Lofty Style\u003C\u002Ftd>\u003Ctd>85,76\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-30\u002FA\u003C\u002Ftd>\u003Ctd>Oficina Reserva\u003C\u002Ftd>\u003Ctd>85,36\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-76\u003C\u002Ftd>\u003Ctd>Maria Filó\u003C\u002Ftd>\u003Ctd>83,50\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>GD-32\u002F33\u003C\u002Ftd>\u003Ctd>Schutz\u003C\u002Ftd>\u003Ctd>81,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-69\u002F70\u003C\u002Ftd>\u003Ctd>Luiza Barcelos\u003C\u002Ftd>\u003Ctd>80,55\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-42\u002F43\u003C\u002Ftd>\u003Ctd>Lacoste\u003C\u002Ftd>\u003Ctd>80,32\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-16\u003C\u002Ftd>\u003Ctd>Vix\u003C\u002Ftd>\u003Ctd>79,57\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-51\u002F52\u002F53\u003C\u002Ftd>\u003Ctd>Forum\u003C\u002Ftd>\u003Ctd>77,89\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>RS-27\u002F28\u003C\u002Ftd>\u003Ctd>Chanel F&B\u003C\u002Ftd>\u003Ctd>77,14\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>GD-27\u003C\u002Ftd>\u003Ctd>Kipling\u003C\u002Ftd>\u003Ctd>76,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-57\u002F57A\u003C\u002Ftd>\u003Ctd>Columbia\u003C\u002Ftd>\u003Ctd>74,76\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>RS-25\u002F26\u003C\u002Ftd>\u003Ctd>Tânia Bulhões Perfumes\u003C\u002Ftd>\u003Ctd>74,19\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>GD-44\u002F45\u003C\u002Ftd>\u003Ctd>Monte Carlo\u003C\u002Ftd>\u003Ctd>72,64\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-54\u002F55\u003C\u002Ftd>\u003Ctd>Live!\u003C\u002Ftd>\u003Ctd>70,23\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-46\u002F47\u003C\u002Ftd>\u003Ctd>Roscoe\u003C\u002Ftd>\u003Ctd>69,35\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-48\u002F49\u003C\u002Ftd>\u003Ctd>Vivara Life\u003C\u002Ftd>\u003Ctd>68,84\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>RS-31\u003C\u002Ftd>\u003Ctd>Anselmi\u003C\u002Ftd>\u003Ctd>68,53\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-39\u003C\u002Ftd>\u003Ctd>Klus\u003C\u002Ftd>\u003Ctd>68,50\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-38\u003C\u002Ftd>\u003Ctd>Kopenhagen\u003C\u002Ftd>\u003Ctd>66,53\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>RS-33\u003C\u002Ftd>\u003Ctd>Fillity\u003C\u002Ftd>\u003Ctd>66,49\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-18\u003C\u002Ftd>\u003Ctd>Paola Da Vinci\u003C\u002Ftd>\u003Ctd>66,27\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-17\u003C\u002Ftd>\u003Ctd>2Dnm\u003C\u002Ftd>\u003Ctd>66,27\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-28\u002F29\u003C\u002Ftd>\u003Ctd>Bagaggio\u003C\u002Ftd>\u003Ctd>65,01\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>GD-37\u002F38\u003C\u002Ftd>\u003Ctd>Óticas Carol\u003C\u002Ftd>\u003Ctd>62,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-67\u002F68\u003C\u002Ftd>\u003Ctd>Spiga\u003C\u002Ftd>\u003Ctd>61,90\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>GD-31\u003C\u002Ftd>\u003Ctd>Army Br\u003C\u002Ftd>\u003Ctd>61,60\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-73\u003C\u002Ftd>\u003Ctd>Brooksfield Jr.\u003C\u002Ftd>\u003Ctd>61,13\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>RS-30\u003C\u002Ftd>\u003Ctd>Plural\u003C\u002Ftd>\u003Ctd>60,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-61\u002F62A\u003C\u002Ftd>\u003Ctd>Dengo\u003C\u002Ftd>\u003Ctd>59,56\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-77\u003C\u002Ftd>\u003Ctd>Intimissimi\u003C\u002Ftd>\u003Ctd>59,11\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-72\u003C\u002Ftd>\u003Ctd>Manoel Bernardes\u003C\u002Ftd>\u003Ctd>58,25\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-52\u002F53\u003C\u002Ftd>\u003Ctd>Optical Express\u003C\u002Ftd>\u003Ctd>57,55\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-23\u003C\u002Ftd>\u003Ctd>Usaflex\u003C\u002Ftd>\u003Ctd>56,90\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>GD-43\u003C\u002Ftd>\u003Ctd>Swarovski\u003C\u002Ftd>\u003Ctd>56,52\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-28\u003C\u002Ftd>\u003Ctd>Bacio Di Latte\u003C\u002Ftd>\u003Ctd>55,60\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-05\u003C\u002Ftd>\u003Ctd>Decolar\u003C\u002Ftd>\u003Ctd>55,50\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-08\u003C\u002Ftd>\u003Ctd>Havaianas\u003C\u002Ftd>\u003Ctd>54,86\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-87\u003C\u002Ftd>\u003Ctd>L'Occitane En Provence\u003C\u002Ftd>\u003Ctd>52,69\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-07\u003C\u002Ftd>\u003Ctd>O Boticário\u003C\u002Ftd>\u003Ctd>52,65\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0014-00.png\">\u003C\u002Fp>\u003Cp>ED\u003Cbr>MDS INSWANÇER\u003Cbr>\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>BG-06\u003C\u002Ftd>\u003Ctd>Cute Case Store\u003C\u002Ftd>\u003Ctd>51,50\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-81\u003C\u002Ftd>\u003Ctd>The North Face\u003C\u002Ftd>\u003Ctd>51,27\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-80\u003C\u002Ftd>\u003Ctd>Cia Marítima\u003C\u002Ftd>\u003Ctd>51,27\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-79\u003C\u002Ftd>\u003Ctd>Pandora\u003C\u002Ftd>\u003Ctd>51,27\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-36\u003C\u002Ftd>\u003Ctd>Samsonite\u003C\u002Ftd>\u003Ctd>51,25\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-35\u003C\u002Ftd>\u003Ctd>Calzedonia\u003C\u002Ftd>\u003Ctd>51,25\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-09\u003C\u002Ftd>\u003Ctd>Democrata\u003C\u002Ftd>\u003Ctd>51,14\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-04\u003C\u002Ftd>\u003Ctd>Luz Da Lua\u003C\u002Ftd>\u003Ctd>51,12\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-05\u003C\u002Ftd>\u003Ctd>Porti\u003C\u002Ftd>\u003Ctd>51,12\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-08\u003C\u002Ftd>\u003Ctd>Perfumaria Granado\u003C\u002Ftd>\u003Ctd>51,07\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-41A\u003C\u002Ftd>\u003Ctd>Kfc\u003C\u002Ftd>\u003Ctd>50,87\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-41\u003C\u002Ftd>\u003Ctd>Assacabrasa\u003C\u002Ftd>\u003Ctd>50,87\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-01\u003C\u002Ftd>\u003Ctd>Dudalina\u003C\u002Ftd>\u003Ctd>50,43\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-34\u003C\u002Ftd>\u003Ctd>Lindt\u003C\u002Ftd>\u003Ctd>48,98\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>GD-12\u003C\u002Ftd>\u003Ctd>Lupo\u003C\u002Ftd>\u003Ctd>48,84\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>RS-32\u003C\u002Ftd>\u003Ctd>Paula Torres\u003C\u002Ftd>\u003Ctd>48,76\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-84\u003C\u002Ftd>\u003Ctd>Victor Hugo\u003C\u002Ftd>\u003Ctd>47,81\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-44\u002FB\u003C\u002Ftd>\u003Ctd>Samsung\u003C\u002Ftd>\u003Ctd>47,80\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-88\u003C\u002Ftd>\u003Ctd>Galeria Tricot\u003C\u002Ftd>\u003Ctd>47,73\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-45\u003C\u002Ftd>\u003Ctd>Sunika\u003C\u002Ftd>\u003Ctd>47,28\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-58\u003C\u002Ftd>\u003Ctd>Danki\u003C\u002Ftd>\u003Ctd>46,10\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-59\u003C\u002Ftd>\u003Ctd>Adcos\u003C\u002Ftd>\u003Ctd>46,10\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-60\u003C\u002Ftd>\u003Ctd>Grandvision By Fotótica\u003C\u002Ftd>\u003Ctd>46,10\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-75\u003C\u002Ftd>\u003Ctd>Divino Fogão\u003C\u002Ftd>\u003Ctd>45,86\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-60\u003C\u002Ftd>\u003Ctd>Centro Visão\u003C\u002Ftd>\u003Ctd>45,27\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-46\u003C\u002Ftd>\u003Ctd>Ludique Et Badin\u003C\u002Ftd>\u003Ctd>45,20\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-47\u003C\u002Ftd>\u003Ctd>Brasil Em Gotas\u003C\u002Ftd>\u003Ctd>45,10\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-48\u003C\u002Ftd>\u003Ctd>Hope\u003C\u002Ftd>\u003Ctd>45,10\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>GD-28\u003C\u002Ftd>\u003Ctd>Wamp\u003C\u002Ftd>\u003Ctd>44,30\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-65\u003C\u002Ftd>\u003Ctd>Sunglass Hut\u003C\u002Ftd>\u003Ctd>42,83\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-57\u003C\u002Ftd>\u003Ctd>Vx Case\u003C\u002Ftd>\u003Ctd>42,17\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-35A\u002F36\u003C\u002Ftd>\u003Ctd>Uv.Line\u003C\u002Ftd>\u003Ctd>41,20\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>GD-42\u003C\u002Ftd>\u003Ctd>Les Nereides\u003C\u002Ftd>\u003Ctd>41,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-44\u003C\u002Ftd>\u003Ctd>Plié\u003C\u002Ftd>\u003Ctd>40,57\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>GD-30\u003C\u002Ftd>\u003Ctd>Kopenhagen\u003C\u002Ftd>\u003Ctd>39,85\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-50\u003C\u002Ftd>\u003Ctd>Deco Skin\u003C\u002Ftd>\u003Ctd>36,75\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-64\u003C\u002Ftd>\u003Ctd>Belvitur\u003C\u002Ftd>\u003Ctd>36,52\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-56\u003C\u002Ftd>\u003Ctd>Anacapri\u003C\u002Ftd>\u003Ctd>36,49\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-65\u003C\u002Ftd>\u003Ctd>Travalex\u003C\u002Ftd>\u003Ctd>36,18\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-78\u003C\u002Ftd>\u003Ctd>Milon\u003C\u002Ftd>\u003Ctd>35,54\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>S-06\u002F07\u003C\u002Ftd>\u003Ctd>Gobox\u003C\u002Ftd>\u003Ctd>35,52\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>GD-23A\u003C\u002Ftd>\u003Ctd>Mr. Cheney\u003C\u002Ftd>\u003Ctd>35,12\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0015-00.png\">\u003C\u002Fp>\u003Cp>EB\u003Cbr>BD SINSVANGER\u003Cbr>\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>GD-35\u003C\u002Ftd>\u003Ctd>Shorts & Co\u003C\u002Ftd>\u003Ctd>35,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-78\u003C\u002Ftd>\u003Ctd>Pequim 2000\u003C\u002Ftd>\u003Ctd>34,54\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>GD-34\u003C\u002Ftd>\u003Ctd>Puket\u003C\u002Ftd>\u003Ctd>34,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-51\u003C\u002Ftd>\u003Ctd>Arranjos Express\u003C\u002Ftd>\u003Ctd>33,90\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-58\u003C\u002Ftd>\u003Ctd>Picchioni Câmbio\u003C\u002Ftd>\u003Ctd>33,67\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-59\u003C\u002Ftd>\u003Ctd>Cvc\u003C\u002Ftd>\u003Ctd>33,67\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-71\u003C\u002Ftd>\u003Ctd>Spoleto\u003C\u002Ftd>\u003Ctd>33,41\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-66\u003C\u002Ftd>\u003Ctd>Encontro\u003C\u002Ftd>\u003Ctd>33,37\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>RS-29\u003C\u002Ftd>\u003Ctd>Occhialeria\u003C\u002Ftd>\u003Ctd>33,32\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-24\u002FA\u003C\u002Ftd>\u003Ctd>Sergio'S\u003C\u002Ftd>\u003Ctd>32,51\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-25\u002FA\u003C\u002Ftd>\u003Ctd>Paramour\u003C\u002Ftd>\u003Ctd>32,51\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-76\u003C\u002Ftd>\u003Ctd>Montana Grill\u003C\u002Ftd>\u003Ctd>32,27\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-29\u002FA\u003C\u002Ftd>\u003Ctd>Ah! Bon\u003C\u002Ftd>\u003Ctd>31,96\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-70\u003C\u002Ftd>\u003Ctd>Gelato Borelli\u003C\u002Ftd>\u003Ctd>31,90\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-37\u003C\u002Ftd>\u003Ctd>Caleidoscópio\u003C\u002Ftd>\u003Ctd>31,65\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>GD-40\u003C\u002Ftd>\u003Ctd>Espaço Laser\u003C\u002Ftd>\u003Ctd>31,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>S-01\u002F02\u003C\u002Ftd>\u003Ctd>Lotérica\u003C\u002Ftd>\u003Ctd>30,64\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>GD-02\u003C\u002Ftd>\u003Ctd>Mi Garba!\u003C\u002Ftd>\u003Ctd>30,48\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-77\u003C\u002Ftd>\u003Ctd>Mr. Cacio\u003C\u002Ftd>\u003Ctd>30,30\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>S-03\u002F04\u003C\u002Ftd>\u003Ctd>Lettera\u003C\u002Ftd>\u003Ctd>30,06\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-69\u003C\u002Ftd>\u003Ctd>Pizza Pazza\u003C\u002Ftd>\u003Ctd>30,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-73\u003C\u002Ftd>\u003Ctd>Boali\u003C\u002Ftd>\u003Ctd>29,37\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-74\u003C\u002Ftd>\u003Ctd>Pizzaria Sion\u003C\u002Ftd>\u003Ctd>29,37\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-72\u003C\u002Ftd>\u003Ctd>Mania De Grelhados\u003C\u002Ftd>\u003Ctd>29,37\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>GD-46\u003C\u002Ftd>\u003Ctd>Isla\u003C\u002Ftd>\u003Ctd>27,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>GD-41\u003C\u002Ftd>\u003Ctd>Biscoitê\u003C\u002Ftd>\u003Ctd>26,48\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-35\u003C\u002Ftd>\u003Ctd>Milky Moo\u003C\u002Ftd>\u003Ctd>26,26\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-37\u003C\u002Ftd>\u003Ctd>Lúmini\u003C\u002Ftd>\u003Ctd>20,84\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>S-08\u003C\u002Ftd>\u003Ctd>Foto Já\u003C\u002Ftd>\u003Ctd>18,36\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>S-05\u003C\u002Ftd>\u003Ctd>Magic Cap\u003C\u002Ftd>\u003Ctd>17,63\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-27\u003C\u002Ftd>\u003Ctd>L'Occitane Au Brésil\u003C\u002Ftd>\u003Ctd>17,43\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-26\u003C\u002Ftd>\u003Ctd>Mc Donald'S\u003C\u002Ftd>\u003Ctd>14,88\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Loja Vaga\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>1.955,30\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>24.190,57\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0016-00.png\">\u003C\u002Fp>\u003Cp>BRAZIL\u003Cbr>ns BINSWANGER\u003Cbr>\u003C\u002Fp>\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>4.717,72\u003C\u002Ftd>\u003Ctd>3\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Mega Loja\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>1.626,79\u003C\u002Ftd>\u003Ctd>3\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Satélite\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>15.890,76\u003C\u002Ftd>\u003Ctd>175\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Loja Vaga\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>1.955,30\u003C\u002Ftd>\u003Ctd>13\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Total\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>24.190,57\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>194\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0016-03.png\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0016-04.png\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0017-00.png\">\u003C\u002Fp>\u003Cp>ED\u003Cbr>ED SINSWANÇER\u003Cbr>\u003C\u002Fp>\u003Ch4>\u003Cstrong>4.2. DESCRIÇÃO DO IMÓVEL\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>O Shopping DiamondMall, inaugurado em 1996, pertence ao Grupo Multiplan, conforme informações divulgadas em seu site oficial. Localizado em uma área privilegiada de Belo Horizonte, o empreendimento destaca-se por sua infraestrutura e variedade, oferecendo 194 lojas, cinema, e praça de alimentação. Entre as principais lojas, destacam-se as âncoras Cinemark, Empório Verdemar e Renner, além de megalojas consolidadas, como Fast Shop, Pobre Juan e Outback Steakhouse.\u003C\u002Fp>\u003Ch4>\u003Cstrong>4.2.1. Terreno\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0017-04.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>125,00 metros – Avenida Olegário Maciel (estimado via Google Earth)\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Formato\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>Regular\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>Divisas não delimitadas\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0018-00.png\">\u003C\u002Fp>\u003Cp>EB\u003Cbr>DD SNS WANGER\u003Cbr>\u003C\u002Fp>\u003Ch4>\u003Cstrong>4.2.2.Construção\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0018-02.png\">\u003C\u002Fp>\u003Cp>LE PS » ,\u003Cbr>E , At “di tre 77 a\u003Cbr>RR | ET é espia\u003Cbr>di 4 | mf)\u003Cbr>\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>Divisas não delimitadas\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>\u003Cstrong>Nº de Pavimentos\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>7 Pavimentos: 3 pavimentos de garagem + 4 pisos de Mall\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Pé Direito\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>3,00 metros no Mall\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Estrutura\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>Concreto pré-moldado\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Cobertura\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>Laje de concreto \u002F Claraboia\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Estrutura da Cobertura\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>Concreto\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Fechamento\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>Alvenaria \u002F Bloco de Concreto \u002F Tijolo maciço, baiano \u002F Telha metálica\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Fachada\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>Granito \u002F Alvenaria com pintura\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 Transparente \u002F Fumê\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Vícios de Construção\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>Bom\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Condição Geral das Instalações\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>Não detectados visualmente\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Idade Estimada\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>29 anos\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Vida Útil Remanescente\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>31 anos\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0019-00.png\">\u003C\u002Fp>\u003Cp>EB\u003Cbr>DD PNSANGER\u003Cbr>\u003C\u002Fp>\u003Ch5>\u003Cstrong>Composição do Imóvel\u003C\u002Fstrong>\u003C\u002Fh5>\u003Cp>O imóvel é formado por uma edificação consolidada e subsolo com estacionamento. Sua composição interna é descrita a seguir:\u003C\u002Fp>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>\u003Cstrong>Pavimento\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Uso\u003C\u002Fstrong>\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>\u003Cstrong>L4 – Rio Grande do Sul\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>Lojas e Restaurantes\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>L3 – Gonçalves Dias\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>Cinema e Lojas\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>L2 – Olegário Maciel\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>Lojas, Acesso C e Espaço Gourmet\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>L1 – Bernardo Guimarães\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>Praça de Alimentação, Acessos e Lojas\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>G1\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>Garagem e Alameda de Serviços\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>G2\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>Garagem\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>G3\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>Garagem\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0019-04.png\">\u003C\u002Fp>\u003Cp>\u003Cem>Planta Comercial – Piso Bernardo Guimarães\u003C\u002Fem>\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0020-00.png\">\u003C\u002Fp>\u003Cp>EB\u003Cbr>EB BINSWANGER\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0020-01.png\">\u003C\u002Fp>\u003Cp>XL SERES ?\u003Cbr>ria, se, SB,\u003Cbr>DU SEDASa Stan\u003Cbr>QuES FSNP=fS sum\u003Cbr>ps aa O\u003Cbr>o ja Ss GBadNsis bt\u003Cbr>Be CNA= ERERREE.\u003Cbr>a e o\u003Cbr>96000 0 4 50 6 4 6 66\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cem>Planta Comercial – Piso Olegário Maciel\u003C\u002Fem>\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0020-03.png\">\u003C\u002Fp>\u003Cp>\u003Cem>Planta Comercial – Piso Gonçalves Dias\u003C\u002Fem>\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0021-00.png\">\u003C\u002Fp>\u003Cp>EB\u003Cbr>EB BINSWANGER\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0021-01.png\">\u003C\u002Fp>\u003Cp>1 E SR\u003Cbr>ANSdO =HEA El.dd.\u003Cbr>“EstrRE EE Ta :\u003Cbr>MeSO 2.\u003Cbr>a. Nav p=tetel= por o\u003Cbr>HESSS MIGA!\u003Cbr>EO A am a a a a e e DS\u003Cbr>dO Sd dd 6 Db 6 6 6 656\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cem>Planta Comercial – Piso Rio Grande do Sul\u003C\u002Fem>\u003C\u002Fp>\u003Ch5>\u003Cstrong>Acabamentos Internos\u003C\u002Fstrong>\u003C\u002Fh5>\u003Cp>Apresentamos a seguir os principais acabamentos observados:\u003C\u002Fp>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>\u003Cstrong>Abit\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003C\u002Fth>\u003Cth>\u003Cstrong>Acabamentos\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>\u003Cstrong>mene\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>Piso\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>Parede\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>Forro\u002F Teto\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Mall\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>Porcelanato \u002F Laminado\u003C\u002Ftd>\u003Ctd>Drywall\u003C\u002Ftd>\u003Ctd>Gesso\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Áreas Técnicas\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>Piso concreto bruto,\u003Cbr>cimentado e vinílico\u003C\u002Ftd>\u003Ctd>Alvenaria com pintura\u003C\u002Ftd>\u003Ctd>Concreto aparente e\u003Cbr>laje\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Administração\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>Porcelanato\u003C\u002Ftd>\u003Ctd>Madeirado\u003C\u002Ftd>\u003Ctd>Gesso\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0022-00.png\">\u003C\u002Fp>\u003Ch5>\u003Cstrong>Especificações Técnicas\u003C\u002Fstrong>\u003C\u002Fh5>\u003Cp>As informações a seguir foram observadas in loco e fornecidas durante a vistoria.\u003C\u002Fp>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>**Tipo **\u003C\u002Fth>\u003Cth>\u003Cstrong>Uso\u003C\u002Fstrong>\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>\u003Cstrong>Circulação Vertical\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>▪ São 5 elevadores sendo 3 sociais panorâmicos e 2 de carga;\u003Cbr>▪ 4 Lances de escada;\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Sistema de Segurança e\u003C\u002Fstrong>\u003Cbr>\u003Cstrong>Controle de Acesso\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>▪ Circuito de TV e catracas de controle de acesso.\u003Cbr>▪ CFTV\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Hidráulica\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>▪ Bombas de água potável e de incêndio\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Sistema de Prevenção\u003C\u002Fstrong>\u003Cbr>\u003Cstrong>de Incêndio\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>▪ Hidrantes e extintores;\u003Cbr>▪ Sprinklers.\u003Cbr>▪ Alarme de incêndio e detectores de fumaça.\u003Cbr>▪ Luzes de emergência\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Elétrica\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>▪ Entrada de energia em alta tensão, com transformadores e quadros de energia\u003Cbr>individuais.\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Ar-Condicionado\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>▪ Central de água gelada\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Outros\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>▪ Central de gás;\u003Cbr>▪ Claraboias.\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Ch4>\u003Cstrong>4.2.3.Reportagem Fotográfica\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0022-05.png\">\u003C\u002Fp>\u003Cp>Empório Verdemar\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0022-07.png\">\u003C\u002Fp>\u003Cp>Mall\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0022-09.png\">\u003C\u002Fp>\u003Cp>Mall\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0022-11.png\">\u003C\u002Fp>\u003Cp>Mall\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0023-00.png\">\u003C\u002Fp>\u003Cp>EB\u003Cbr>EDP NSVANÇER\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0023-01.png\">\u003C\u002Fp>\u003Cp>Re\u003Cbr>dae E AR\u003Cbr>\u003C\u002Fp>\u003Cp>Mall\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0023-03.png\">\u003C\u002Fp>\u003Cp>Mall\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0023-05.png\">\u003C\u002Fp>\u003Cp>Mall\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0023-07.png\">\u003C\u002Fp>\u003Cp>Fast Shop\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0023-09.png\">\u003C\u002Fp>\u003Cp>\u002F>\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0023-11.png\">\u003C\u002Fp>\u003Cp>Mall\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0023-13.png\">\u003C\u002Fp>\u003Cp>Mall\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0023-15.png\">\u003C\u002Fp>\u003Cp>Mall\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0024-00.png\">\u003C\u002Fp>\u003Cp>ED\u003Cbr>EDS NSNANGER\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0024-01.png\">\u003C\u002Fp>\u003Cp>;\u003Cbr>\u003C\u002Fp>\u003Cp>Mall\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0024-03.png\">\u003C\u002Fp>\u003Cp>Mall\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0024-05.png\">\u003C\u002Fp>\u003Cp>Mall\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0024-07.png\">\u003C\u002Fp>\u003Cp>Praça de alimentação\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0024-09.png\">\u003C\u002Fp>\u003Cp>Mall\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0024-11.png\">\u003C\u002Fp>\u003Cp>Mall\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0024-13.png\">\u003C\u002Fp>\u003Cp>Mall\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0024-15.png\">\u003C\u002Fp>\u003Cp>Praça de alimentação\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0025-00.png\">\u003C\u002Fp>\u003Cp>EB sinsmanges\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0025-01.png\">\u003C\u002Fp>\u003Cp>pm a]\u003Cbr>4 Lao é\u003Cbr>Zi E] 1 Ee,\u003Cbr>' Ego\u003Cbr>F sé\u003Cbr>\u003C\u002Fp>\u003Cp>Vagas de garagem descobertas\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0025-03.png\">\u003C\u002Fp>\u003Cp>Vagas de garagem cobertas\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0025-05.png\">\u003C\u002Fp>\u003Cp>Área técnica\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0025-07.png\">\u003C\u002Fp>\u003Cp>Área técnica\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0025-09.png\">\u003C\u002Fp>\u003Cp>Vagas de garagem descobertas\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0025-11.png\">\u003C\u002Fp>\u003Cp>Vagas de garagem cobertas\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0025-13.png\">\u003C\u002Fp>\u003Cp>Área técnica\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0025-15.png\">\u003C\u002Fp>\u003Cp>Área técnica\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0026-00.png\">\u003C\u002Fp>\u003Ch4>\u003Cstrong>4.3. HISTÓRICO DE PROPRIEDADE\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>O imóvel, na época de propriedade do Clube Atlético Mineiro, foi arrendado em 28 de julho de 1992 para o Consórcio MTS\u002FIBR: Multishopping Empreendimentos Imobiliários SA\u003Csup>1\u003C\u002Fsup> e IBR Administração, Participação e Comércio S.A., sob a premissa de o outorgado planejar e construir um shopping center de três pavimentos em até 24 meses e, então, explorá-lo pelo prazo de 30 anos pagando locação ao proprietário. O aluguel, à época, era correspondente a 15% dos aluguéis de locações recebidos de lojas “stands” ou áreas do centro de compras, tendo como aluguel mínimo Cr$ 100.000.000,00 (cem milhões de cruzeiros).\u003C\u002Fp>\u003Cp>Atualmente, além do aluguel percentual sobre as locações do centro comercial (ou aluguel mínimo), o outorgado também paga 10% sobre as receitas decorrentes de cessão de direitos de uso e 15% sobre as receitas com o aluguel do estacionamento, em razão de aditamento realizado em 20 de janeiro de 2020. O prazo do contrato foi estendido para 34 anos no mesmo aditamento, se encerrando em 06 de novembro de 2030.\u003C\u002Fp>\u003Cp>O imóvel foi de propriedade integral do Clube Atlético Mineiro até 20 de janeiro de 2020, nesta data, 50,10% da propriedade foi comprada pela Multiplan pelo valor de R$ 296,8 milhões\u003Csup>2\u003C\u002Fsup> . Outros 24,95% foram comprados, também pela Multiplan, em 03 de março de 2023, por R$ 170,0 milhões\u003Csup>3\u003C\u002Fsup> . O imóvel então, passou a pertencer 75,05% à Multiplan e 24,95% ao Clube Atlético Mineiro.\u003C\u002Fp>\u003Cp>A aquisição da parcela de propriedade do Clube Atlético Mineiro, pelo FII Pedra Negra, passa o direito do arrendamento ao fundo, com este se mantendo em vigor pelo restante prazo de contrato. Ao final do contrato de arrendamento, o fundo participará do resultado da operação normalmente, com o percentual de 24,95% sobre o resultado.\u003C\u002Fp>\u003Cblockquote>\u003Cp>1 Atualmente Multiplan Empreendimentos Imobiliários S.A.\u003C\u002Fp>\u003Cp>2 https:\u002F\u002Fwww.multiplan.com.br\u002Fpt-br\u002Fa-empresa\u002Fnoticias\u002Fmultiplan-anuncia-conclusao-de-aquisicao-departicipacao-no-diamondmall\u003C\u002Fp>\u003Cp>3 https:\u002F\u002Fwww.multiplan.com.br\u002Fpt-br\u002Fa-empresa\u002Fnoticias\u002Fparticipacao-da-multiplan-no-diamondmall-alcancamais-de-75\u003C\u002Fp>\u003C\u002Fblockquote>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0027-00.png\">\u003C\u002Fp>\u003Cp>ED\u003Cbr>MDS INSWANÇER\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>Belo Horizonte \u002F MG\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>\u003Cstrong>Área Territorial\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>330,95 km²\u003C\u002Ftd>\u003Ctd>330,95 km²\u003C\u002Ftd>\u003Ctd>1.537,86 km²\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>População\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>2.375.444 hab.\u003C\u002Ftd>\u003Ctd>2.375.444 hab.\u003C\u002Ftd>\u003Ctd>34.272 hab.\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>PIB (R$ mil)\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>R$ 51.661.760,19\u003C\u002Ftd>\u003Ctd>R$ 51.661.760,19\u003C\u002Ftd>\u003Ctd>R$ 693.716,24\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>PIB per capita\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>R$ 21.748,25\u003C\u002Ftd>\u003Ctd>R$ 21.748,25\u003C\u002Ftd>\u003Ctd>R$ 20.241,49\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>IDH\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>0,810\u003C\u002Ftd>\u003Ctd>0,810\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>n\u002Fa\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Demanda\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>Média\u003C\u002Ftd>\u003Ctd>\u003Cstrong>Para Venda\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>Média\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Risco de Invasão\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>Baixa\u003C\u002Ftd>\u003Ctd>\u003Cstrong>Vocação\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>Shopping Center\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>\u003Ctr>\u003Ctd>✓ Ótimo padrão constru\u003C\u002Ftd>\u003Ctd>tivo;\u003C\u002Ftd>\u003Ctd>✓ Não identificadas.\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>✓ Ótimo mix de lojas.\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Oportunidades:\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>Ameaças:\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>✓ Não identificadas.\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>✓ Não identificadas.\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0028-00.png\">\u003C\u002Fp>\u003Cp>ED\u003Cbr>MDS INSWANÇER\u003Cbr>\u003C\u002Fp>\u003Ch4>\u003Cstrong>5.1. SHOPPINGS 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 no Brasil apresentou uma recuperação significativa de seus resultados ao longo de 2022 e 2023, observando índices próximos e, em casos, acima àqueles registrados em 2019, antes da pandemia do COVID-19. Enquanto 2020 e 2021 foram anos de renegociações de contrato, aumento da vacância e diminuição do fluxo de pessoas – resultando em faturamentos inferiores e incertezas profundas com relação à resiliência do segmento –, 2022 confirmou os sinais de recuperação observados no final de 2021 e trouxe ao mercado um respiro associado ao fim das restrições sanitárias estabelecidas na pandemia. 2023 e 2024 foram anos de consolidação, com o faturamento total de vendas no país no último ano atingindo 198,4 bilhões de reais, recorde da série histórica.\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0029-00.png\">\u003C\u002Fp>\u003Cp>Apesar da alta no faturamento e no consumo das famílias em 2024, o ano de 2025 será marcado pelas altas da Selic e da inflação, um cenário desafiador para manutenção dos bons números apresentados em 24. É um cenário, portanto, de cautela até que haja uma definição sobre as incertezas que pairam sobre o mercado, tanto em questões inflacionárias internas, quanto em decorrências das políticas tarifárias norte-americanas e conflitos na Europa e Oriente-médio.\u003C\u002Fp>\u003Ch4>\u003Cstrong>5.1.2. números do setor\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>Atualmente, o país conta com aproximadamente 648 shopping centers em operação – 19,840 milhões de metros quadrados de área bruta locável.\u003C\u002Fp>\u003Cp>|\u003Cstrong>Quadro Geral de Shoppings | 2025\u003C\u002Fstrong>|| |---|---| |Total de Shoppings:|648| |A inaugurar em 2025:|17| |Total de Shoppings no fim de 2025:|665| |Faturamento (bilhões):|198,4| |Visitantes\u002Fmês (milhões):|475,7| |Empregos gerados:|1.073.234| |ABL Total no Brasil (m²):|18.151.214| |Total de Lojas:|123.266| |Sendo,|| |Âncoras:|4,5%| |Semi-âncoras:|2,9%| |Megalojas:|4,0%| |Satélites:|56,7%| |Conveniência\u002FServiços:|10,4%| |Alimentação:|19,1%| |Lazer|2,4%| |Salas de Cinema:|3.102| |Vagas para Carros:|1.065.138|\u003C\u002Fp>\u003Cp>\u003Cem>Fonte: Censo da ABRASCE 2024\u002F2025, editado por Binswanger Brazil.\u003C\u002Fem>\u003C\u002Fp>\u003Cp>Este número representa um aumento de aproximadamente 1,39% em relação a 2023, mantendo um crescimento constante desde 2019 de, em média, 2,31% ao ano.\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0030-00.png\">\u003C\u002Fp>\u003Cp>ED, NswaNcER\u003Cbr>EB BRAZIL\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0030-01.png\">\u003C\u002Fp>\u003Cp>Número de Shoppings\u003Cbr>700 o o ms 639 648\u003Cbr>60 cg 658 573 563 577\u003Cbr>500\u003Cbr>400\u003Cbr>300\u003Cbr>200\u003Cbr>100\u003Cbr>[o\u003Cbr>2015 2016 2017 2018 2019 2020 2021 2022 2023 2024\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cem>Fonte: ABRASCE - Editado por Binswanger Brazil – mar\u002F2025\u003C\u002Fem>\u003C\u002Fp>\u003Cp>Dos nove novos shoppings de 2024, cinco estão em cidades que não possuíam shopping centers anteriormente, o que segue a tendência de interiorização do setor, são eles: Brooklyn Alamedas, em Boituva – SP; Plaza Rio das Ostras, em Rio das Ostras – RJ; Shopping Pinheiros, em Araucária – PR; Lago Center, em Araguaína – TO; e Santa Maria Outlet, em Cravinhos -SP. Em média, esses empreendimentos têm 17.750 m² de ABL.\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0030-04.png\">\u003C\u002Fp>\u003Cp>\u003Cem>Fonte: ABRASCE - Editado por Binswanger Brazil – mar\u002F2025\u003C\u002Fem>\u003C\u002Fp>\u003Cp>A seguir, a Binswanger Brazil, através de sua base de dados, demonstra a quantidade de shoppings e metragens por região.\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0031-00.png\">\u003C\u002Fp>\u003Cp>EB BRAZIL\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0031-01.png\">\u003C\u002Fp>\u003Cp>ABL por Região (M?)\u003Cbr>Norte\u003Cbr>963.737...\u003Cbr>Centro-Oeste s%\u003Cbr>160298\u003Cbr>Nordeste\u003Cbr>3.252.558 rom\u003Cbr>18% udeste\u003Cbr>9.658.339\u003Cbr>Sul\u003Cbr>2.666.589\u003Cbr>15%\u003Cbr>= Sudeste Sul = Nordeste |=Centro-Oeste = Norte\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0031-02.png\">\u003C\u002Fp>\u003Cp>\u003Cem>Fonte: ABRASCE - Editado por Binswanger Brazil – mar\u002F2025\u003C\u002Fem>\u003C\u002Fp>\u003Cp>Nota-se que o Sudeste possui aproximadamente 53,21% da área bruta locável total do país, com o Nordeste logo em seguida com 17,92% da área bruta locável total. Porém, com relação à quantidade de empreendimentos em operação, o Sudeste mais uma vez ocupa a primeira colocação, com 329 shoppings ativos; mas a segunda posição é ocupada pela região Sul, com um total de 110 empreendimentos. O Nordeste, nesse aspecto, está em terceiro, com 107\u003C\u002Fp>\u003Cp>ativos.\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0031-06.png\">\u003C\u002Fp>\u003Cp>\u003Cem>Fonte: ABRASCE - Editado por Binswanger Brazil – mar\u002F2025\u003C\u002Fem>\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0032-00.png\">\u003C\u002Fp>\u003Cp>EB BINSWANGERBRAZIL\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. Por mais que o ano de 2021 já apresentasse uma lenta retomada nos dois índices, com 19,1% de crescimento no faturamento e 2,06% no número de empregos, o ano de 2022 consolidou a retomada para os patamares pré-pandemia, com crescimento de 17% no faturamento com relação ao ano anterior. Desde então, o setor estabilizou, com crescimentos no faturamento de 1,49% e 1,86% em 2023 e 2024, respectivamente.\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0032-02.png\">\u003C\u002Fp>\u003Cp>Faturamento Anual\u003Cbr>240\u003Cbr>q\u003Cbr>1\u003Cbr>2 193 192 195 198\u003Cbr>= 200 179\u003Cbr>160 152 158 168 159\u003Cbr>129\u003Cbr>120\u003Cbr>E\u003Cbr>40\u003Cbr>[o]\u003Cbr>2015 2016 2017 2018 2019 2020 2021 2022 2023 2024\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cem>Fonte: ABRASCE - Editado por Binswanger Brazil – mar\u002F2025\u003C\u002Fem>\u003C\u002Fp>\u003Cp>O fluxo de pessoas ainda não retornou ao patamar pré-pandemia, o que pode ser explicado pelo crescimento do mercado de compras on-line. O setor, para além do marketplace, representa também um programa de lazer da família brasileira e, portanto, apresenta resiliência frente às novas tendências de consumo, ainda assim, a praticidade e a crescente agilidade na entrega das compras pela internet oferecem cada vez mais concorrência para o setor.\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0032-05.png\">\u003C\u002Fp>\u003Cp>\u003Cem>Fonte: ABRASCE - Editado por Binswanger Brazil – mar\u002F2025\u003C\u002Fem>\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0033-00.png\">\u003C\u002Fp>\u003Cp>EB BINSWANGER\u003Cbr>EB BRAZIL\u003Cbr>\u003C\u002Fp>\u003Cp>Dessa maneira, muitos empreendimentos apostam cada vez mais em opções de gastronomia e lazer. De acordo com a ABRASCE, 31% dos shopping centers contam com boulevard gastronômico, e 82% com restaurantes fora da praça de alimentação; cinemas estão presentes em mais de 92% dos empreendimentos e, nesse último ano, foi registrado uma diversidade maior nas atrações disponíveis. O segmento ‘diversões’ está em mais de 81% dos shopping centers, e entre outras opções foram mapeados também operações de boliche, teatro, arena gamer, Kart e Casa de Shows.\u003C\u002Fp>\u003Cp>Os empregos, seguindo a tendência do fluxo de pessoas, ainda estão abaixo dos números pré pandemia.\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0033-03.png\">\u003C\u002Fp>\u003Cp>\u003Cem>Fonte: ABRASCE - Editado por Binswanger Brazil – mar\u002F2025\u003C\u002Fem>\u003C\u002Fp>\u003Ch4>\u003Cstrong>5.1.3. Novo estoque\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>Em 2024, foram inaugurados 9 shoppings no Brasil, sendo 2 na região sul, 5 na região sudeste e 2 na região Nordeste, totalizando 133,6 mil m² de ABL, e em 2023, estão previstas 15 inaugurações de novos shoppings, totalizando 275,2 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>Brooklyn Alamedas\u003C\u002Ftd>\u003Ctd>São Paulo\u003C\u002Ftd>\u003Ctd>Boituva\u003C\u002Ftd>\u003Ctd>14.127\u003C\u002Ftd>\u003Ctd>21\u002F03\u002F2024\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Outlet Premium Imigrantes\u003C\u002Ftd>\u003Ctd>São Paulo\u003C\u002Ftd>\u003Ctd>São Bernardo do\u003Cbr>Campo\u003C\u002Ftd>\u003Ctd>17.717\u003C\u002Ftd>\u003Ctd>12\u002F04\u002F2024\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Shopping Plaza Rio das Ostras\u003C\u002Ftd>\u003Ctd>Rio de Janeiro\u003C\u002Ftd>\u003Ctd>Rio das Ostras\u003C\u002Ftd>\u003Ctd>17.607\u003C\u002Ftd>\u003Ctd>16\u002F04\u002F2024\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Shopping Central Park\u003C\u002Ftd>\u003Ctd>São Paulo\u003C\u002Ftd>\u003Ctd>Cotia\u003C\u002Ftd>\u003Ctd>22.466\u003C\u002Ftd>\u003Ctd>25\u002F07\u002F2024\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Shopping Pinheiros\u003C\u002Ftd>\u003Ctd>Paraná\u003C\u002Ftd>\u003Ctd>Araucária\u003C\u002Ftd>\u003Ctd>10.400\u003C\u002Ftd>\u003Ctd>09\u002F09\u002F2024\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Copa Open Mall\u003C\u002Ftd>\u003Ctd>Paraná\u003C\u002Ftd>\u003Ctd>Curitiba\u003C\u002Ftd>\u003Ctd>11.000\u003C\u002Ftd>\u003Ctd>30\u002F09\u002F2024\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Lago Center Shopping\u003C\u002Ftd>\u003Ctd>Tocantins\u003C\u002Ftd>\u003Ctd>Araguaína\u003C\u002Ftd>\u003Ctd>26.600\u003C\u002Ftd>\u003Ctd>08\u002F10\u002F2024\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Santa Maria Outlet\u003C\u002Ftd>\u003Ctd>São Paulo\u003C\u002Ftd>\u003Ctd>Cravinhos\u003C\u002Ftd>\u003Ctd>20.000\u003C\u002Ftd>\u003Ctd>20\u002F11\u002F2024\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0034-00.png\">\u003C\u002Fp>\u003Cp>ED\u003Cbr>MDS INSWANÇER\u003Cbr>\u003C\u002Fp>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>\u003Cstrong>A Inaugurar - 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>Caldas Novas\u003C\u002Ftd>\u003Ctd>GO\u003C\u002Ftd>\u003Ctd>7.500\u003C\u002Ftd>\u003Ctd>Janeiro de 2025\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Shopping Aldeia da Serra\u003C\u002Ftd>\u003Ctd>Serra\u003C\u002Ftd>\u003Ctd>ES\u003C\u002Ftd>\u003Ctd>20.000\u003C\u002Ftd>\u003Ctd>Março de 2025\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Jardins de Vilhena Shopping\u003C\u002Ftd>\u003Ctd>Vilhena\u003C\u002Ftd>\u003Ctd>RO\u003C\u002Ftd>\u003Ctd>20.500\u003C\u002Ftd>\u003Ctd>Março de 2025\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Flow Open Mall\u003C\u002Ftd>\u003Ctd>Curitiba\u003C\u002Ftd>\u003Ctd>PR\u003C\u002Ftd>\u003Ctd>8.000\u003C\u002Ftd>\u003Ctd>Maio de 2025\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Espaço 356\u003C\u002Ftd>\u003Ctd>Belo Horizonte\u003C\u002Ftd>\u003Ctd>MG\u003C\u002Ftd>\u003Ctd>14.000\u003C\u002Ftd>\u003Ctd>Maio de 2025\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Bourbon Shopping Carlos Gomes\u003C\u002Ftd>\u003Ctd>Porto Alegre\u003C\u002Ftd>\u003Ctd>RS\u003C\u002Ftd>\u003Ctd>8.600\u003C\u002Ftd>\u003Ctd>Primeiro Semestre de 2025\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Americana Shopping\u003C\u002Ftd>\u003Ctd>Americana\u003C\u002Ftd>\u003Ctd>SP\u003C\u002Ftd>\u003Ctd>28.000\u003C\u002Ftd>\u003Ctd>Agosto de 2025\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Partage Brasília\u003C\u002Ftd>\u003Ctd>Brasília\u003C\u002Ftd>\u003Ctd>DF\u003C\u002Ftd>\u003Ctd>39.113\u003C\u002Ftd>\u003Ctd>Outubro de 2025\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Boulevard Marília Shopping\u003C\u002Ftd>\u003Ctd>Marília\u003C\u002Ftd>\u003Ctd>SP\u003C\u002Ftd>\u003Ctd>7.238\u003C\u002Ftd>\u003Ctd>Outubro de 2025\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Centrosul Shopping\u003C\u002Ftd>\u003Ctd>Lagarto\u003C\u002Ftd>\u003Ctd>SE\u003C\u002Ftd>\u003Ctd>20.380\u003C\u002Ftd>\u003Ctd>Outubro de 2025\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Shopping Praia Sul\u003C\u002Ftd>\u003Ctd>Aracaju\u003C\u002Ftd>\u003Ctd>SE\u003C\u002Ftd>\u003Ctd>32.000\u003C\u002Ftd>\u003Ctd>Outubro de 2025\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Plaza Shopping Campos Gerais\u003C\u002Ftd>\u003Ctd>Ponta Grossa\u003C\u002Ftd>\u003Ctd>PR\u003C\u002Ftd>\u003Ctd>27.000\u003C\u002Ftd>\u003Ctd>Outubro de 2025\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Olímpia Garden Outlet\u003C\u002Ftd>\u003Ctd>Olímpia\u003C\u002Ftd>\u003Ctd>SP\u003C\u002Ftd>\u003Ctd>17.890\u003C\u002Ftd>\u003Ctd>Novembro de 2025\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Manhattan Shopping\u003C\u002Ftd>\u003Ctd>Brasília\u003C\u002Ftd>\u003Ctd>DF\u003C\u002Ftd>\u003Ctd>8.000\u003C\u002Ftd>\u003Ctd>Novembro de 2025\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Shopping Cidade da Serra\u003C\u002Ftd>\u003Ctd>Lavras\u003C\u002Ftd>\u003Ctd>MG\u003C\u002Ftd>\u003Ctd>17.500\u003C\u002Ftd>\u003Ctd>Segundo Semestre de 2025\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>NV Boulevard\u003C\u002Ftd>\u003Ctd>Uberlândia\u003C\u002Ftd>\u003Ctd>MG\u003C\u002Ftd>\u003Ctd>12.000\u003C\u002Ftd>\u003Ctd>Segundo Semestre de 2025\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Gran Piçarras Shopping\u003C\u002Ftd>\u003Ctd>Balneário Piçarras\u003C\u002Ftd>\u003Ctd>SC\u003C\u002Ftd>\u003Ctd>18.500\u003C\u002Ftd>\u003Ctd>Final de 2025\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>\u003Cem>Fonte: ABRASCE - Editado por Binswanger Brazil – mar\u002F2025\u003C\u002Fem>\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0035-00.png\">\u003C\u002Fp>\u003Cp>EB BINSWANGER\u003Cbr>EB BRAZIL\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 12 meses. Nota-se que o Cap Rate estabilizado\u003Csup>4\u003C\u002Fsup> médio para este tipo de empreendimento é 8,49%:\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0035-03.png\">\u003C\u002Fp>\u003Cp>\u003Cem>Fonte: Binswanger - Editado por Binswanger Brazil – mai\u002F2025\u003C\u002Fem>\u003C\u002Fp>\u003Cblockquote>\u003Cp>4 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\u002F3477\u002F3477.pdf-0036-00.png\">\u003C\u002Fp>\u003Cp>ED\u003Cbr>MDS INSWANÇER\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>Shopping Villagio Caxias do Sul\u003C\u002Ftd>\u003Ctd>Rio Grande do Sul\u003C\u002Ftd>\u003Ctd>Caxias do Sul\u003C\u002Ftd>\u003Ctd>16\u002F04\u002F2024\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\u002F2024\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\u002F2024\u003C\u002Ftd>\u003Ctd>7,90%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Top Shopping\u003C\u002Ftd>\u003Ctd>Rio de Janeiro\u003C\u002Ftd>\u003Ctd>Nova Iguaçu\u003C\u002Ftd>\u003Ctd>09\u002F05\u002F2024\u003C\u002Ftd>\u003Ctd>9,30%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Shopping Ponta Negra\u003C\u002Ftd>\u003Ctd>Amazonas\u003C\u002Ftd>\u003Ctd>Manaus\u003C\u002Ftd>\u003Ctd>13\u002F05\u002F2024\u003C\u002Ftd>\u003Ctd>8,43%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Shopping Bela Vista\u003C\u002Ftd>\u003Ctd>Bahia\u003C\u002Ftd>\u003Ctd>Salvador\u003C\u002Ftd>\u003Ctd>13\u002F05\u002F2024\u003C\u002Ftd>\u003Ctd>10,23%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Catarina Fashion Outlet\u003C\u002Ftd>\u003Ctd>São Paulo\u003C\u002Ftd>\u003Ctd>São Roque\u003C\u002Ftd>\u003Ctd>13\u002F05\u002F2024\u003C\u002Ftd>\u003Ctd>9,44%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>São Luís Shopping Center\u003C\u002Ftd>\u003Ctd>São Luís\u003C\u002Ftd>\u003Ctd>Maranhão\u003C\u002Ftd>\u003Ctd>19\u002F06\u002F2024\u003C\u002Ftd>\u003Ctd>10,10%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Uberlândia Shopping\u003C\u002Ftd>\u003Ctd>Uberlândia\u003C\u002Ftd>\u003Ctd>Minas Gerais\u003C\u002Ftd>\u003Ctd>26\u002F06\u002F2024\u003C\u002Ftd>\u003Ctd>10,00%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Shopping D\u003C\u002Ftd>\u003Ctd>São Paulo\u003C\u002Ftd>\u003Ctd>São Paulo\u003C\u002Ftd>\u003Ctd>27\u002F06\u002F2024\u003C\u002Ftd>\u003Ctd>7,90%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Shopping Cerrado\u003C\u002Ftd>\u003Ctd>Goiânia\u003C\u002Ftd>\u003Ctd>Goiás\u003C\u002Ftd>\u003Ctd>27\u002F06\u002F2024\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\u002F2024\u003C\u002Ftd>\u003Ctd>7,90%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Shopping Metropolitano Barra\u003C\u002Ftd>\u003Ctd>Rio de Janeiro\u003C\u002Ftd>\u003Ctd>Rio de Janeiro\u003C\u002Ftd>\u003Ctd>27\u002F06\u002F2024\u003C\u002Ftd>\u003Ctd>7,90%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Shopping Cidade São Paulo\u003C\u002Ftd>\u003Ctd>São Paulo\u003C\u002Ftd>\u003Ctd>São Paulo\u003C\u002Ftd>\u003Ctd>27\u002F06\u002F2024\u003C\u002Ftd>\u003Ctd>7,90%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Grand Plaza Shopping\u003C\u002Ftd>\u003Ctd>Santo André\u003C\u002Ftd>\u003Ctd>São Paulo\u003C\u002Ftd>\u003Ctd>27\u002F06\u002F2024\u003C\u002Ftd>\u003Ctd>7,90%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Rio Sul Shopping Center\u003C\u002Ftd>\u003Ctd>Rio de Janeiro\u003C\u002Ftd>\u003Ctd>Rio de Janeiro\u003C\u002Ftd>\u003Ctd>08\u002F07\u002F2024\u003C\u002Ftd>\u003Ctd>7,70%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Rio Sul Shopping Center\u003C\u002Ftd>\u003Ctd>Rio de Janeiro\u003C\u002Ftd>\u003Ctd>Rio de Janeiro\u003C\u002Ftd>\u003Ctd>08\u002F07\u002F2024\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\u002F2024\u003C\u002Ftd>\u003Ctd>11,20%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Iguatemi Alphaville\u003C\u002Ftd>\u003Ctd>São Paulo\u003C\u002Ftd>\u003Ctd>Barueri\u003C\u002Ftd>\u003Ctd>28\u002F07\u002F2024\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\u002F2024\u003C\u002Ftd>\u003Ctd>5,22%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Shopping Plaza Sul\u003C\u002Ftd>\u003Ctd>São Paulo\u003C\u002Ftd>\u003Ctd>São Paulo\u003C\u002Ftd>\u003Ctd>04\u002F11\u002F2024\u003C\u002Ftd>\u003Ctd>9,51%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Shopping Tijuca\u003C\u002Ftd>\u003Ctd>Rio de Janeiro\u003C\u002Ftd>\u003Ctd>Rio de Janeiro\u003C\u002Ftd>\u003Ctd>04\u002F11\u002F2024\u003C\u002Ftd>\u003Ctd>10,38%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Shopping Uberaba\u003C\u002Ftd>\u003Ctd>Minas Gerais\u003C\u002Ftd>\u003Ctd>Uberaba\u003C\u002Ftd>\u003Ctd>25\u002F11\u002F2024\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\u002F2025\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\u002F2025\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\u002F2025\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\u002F2025\u003C\u002Ftd>\u003Ctd>7,70%*\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>\u003Cstrong>\u003Cem>*estimado, transação recente, cap rate ainda não divulgado\u003C\u002Fem>\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cem>Fonte: Binswanger - Editado por Binswanger Brazil – mar\u002F2025\u003C\u002Fem>\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0037-00.png\">\u003C\u002Fp>\u003Cp>ED\u003Cbr>MDS INSWANÇER\u003Cbr>\u003C\u002Fp>\u003Ch4>\u003Cstrong>5.1.5. FIIs De Shopping Centers No Brasil\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>Os Fundos de Investimento Imobiliário de shopping centers surgiram no Brasil com o intuito de promover securitização deste tipo de ativo. Abaixo, demonstramos alguns dos principais fundos de investimento com ênfase em shopping centers:\u003C\u002Fp>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>\u003Cstrong>FIIs DE SHOPPING CENTERS\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003C\u002Fth>\u003Cth>\u003C\u002Fth>\u003Cth>\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>\u003Cstrong>Fundo\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>Patrimônio Líquido\u003C\u002Fstrong>\u003Cbr>\u003Cstrong>(R$) (milhões)\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>Código\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>Valor Patrimonial\u003C\u002Fstrong>\u003Cbr>\u003Cstrong>por Cota (R$)\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>FII Grand Plaza Shopping\u003C\u002Ftd>\u003Ctd>507,0\u003C\u002Ftd>\u003Ctd>ABCP11\u003C\u002Ftd>\u003Ctd>107,66\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Hedge Atrium Shopping Santo André FII\u003C\u002Ftd>\u003Ctd>133,2\u003C\u002Ftd>\u003Ctd>ATSA11\u003C\u002Ftd>\u003Ctd>76,06\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>FII Btg Pactual Shoppings\u003C\u002Ftd>\u003Ctd>976,1\u003C\u002Ftd>\u003Ctd>BPML11\u003C\u002Ftd>\u003Ctd>131,17\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>General Shopping Ativo E Renda FII\u003C\u002Ftd>\u003Ctd>216,9\u003C\u002Ftd>\u003Ctd>FIGS11\u003C\u002Ftd>\u003Ctd>76,11\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>FII Floripa Shopping\u003C\u002Ftd>\u003Ctd>147,5\u003C\u002Ftd>\u003Ctd>FLRP11\u003C\u002Ftd>\u003Ctd>2.034,48\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>FII Via Parque Shopping - FII\u003C\u002Ftd>\u003Ctd>487,0\u003C\u002Ftd>\u003Ctd>FVPQ11\u003C\u002Ftd>\u003Ctd>173,92\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>General Shopping E Outlets Do Brasil FII - FII\u003C\u002Ftd>\u003Ctd>1.200\u003C\u002Ftd>\u003Ctd>GSFI11\u003C\u002Ftd>\u003Ctd>12,49\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Hedge Brasil Shopping FII\u003C\u002Ftd>\u003Ctd>2.800\u003C\u002Ftd>\u003Ctd>HGBS11\u003C\u002Ftd>\u003Ctd>219,96\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Hsi Malls FII\u003C\u002Ftd>\u003Ctd>2.300\u003C\u002Ftd>\u003Ctd>HSML11\u003C\u002Ftd>\u003Ctd>110,53\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Legatus Shoppings FII\u003C\u002Ftd>\u003Ctd>418,2\u003C\u002Ftd>\u003Ctd>LASC11\u003C\u002Ftd>\u003Ctd>142,23\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Malls Brasil Plural FII\u003C\u002Ftd>\u003Ctd>1.700\u003C\u002Ftd>\u003Ctd>MALL11\u003C\u002Ftd>\u003Ctd>131,02\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>FII Parque Dom Pedro Shopping Center\u003C\u002Ftd>\u003Ctd>336,2\u003C\u002Ftd>\u003Ctd>PQDP11\u003C\u002Ftd>\u003Ctd>3.343,24\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>SCP FII\u003C\u002Ftd>\u003Ctd>44,6\u003C\u002Ftd>\u003Ctd>SCPF11\u003C\u002Ftd>\u003Ctd>10,62\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>FII Shopping Pátio Higienópolis\u003C\u002Ftd>\u003Ctd>618,4\u003C\u002Ftd>\u003Ctd>SHPH11\u003C\u002Ftd>\u003Ctd>1.015,52\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Vinci Shopping Centers FII - FII\u003C\u002Ftd>\u003Ctd>3.600\u003C\u002Ftd>\u003Ctd>VISC11\u003C\u002Ftd>\u003Ctd>124,80\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>FII Votorantim Shopping\u003C\u002Ftd>\u003Ctd>218,0\u003C\u002Ftd>\u003Ctd>VSHO11\u003C\u002Ftd>\u003Ctd>103,87\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Shopping West Plaza FII\u003C\u002Ftd>\u003Ctd>76,1\u003C\u002Ftd>\u003Ctd>WPLZ11\u003C\u002Ftd>\u003Ctd>68,46\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Xp Malls FII\u003C\u002Ftd>\u003Ctd>6.700\u003C\u002Ftd>\u003Ctd>XPML11\u003C\u002Ftd>\u003Ctd>121,11\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Hedge Shopping Parque Dom Pedro\u003C\u002Ftd>\u003Ctd>307,1\u003C\u002Ftd>\u003Ctd>HPDP11\u003C\u002Ftd>\u003Ctd>93,40\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Max Retail\u003C\u002Ftd>\u003Ctd>117,4\u003C\u002Ftd>\u003Ctd>MAXR11\u003C\u002Ftd>\u003Ctd>104,29\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Gazit Malls\u003C\u002Ftd>\u003Ctd>2.000\u003C\u002Ftd>\u003Ctd>GZIT11\u003C\u002Ftd>\u003Ctd>91,57\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>\u003Cem>Fonte: Binswanger - Editado por Binswanger Brazil – mar\u002F2025\u003C\u002Fem>\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0038-00.png\">\u003C\u002Fp>\u003Cp>ED, swancER\u003Cbr>EB BRAZIL\u003Cbr>\u003C\u002Fp>\u003Ch4>\u003Cstrong>5.1.6. Concorrentes\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>Localizado na capital mineira, o Shopping DiamondMall está próximo de diversos concorrentes. Abaixo, apresentamos características de empreendimentos no raio de 5 km.\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0038-03.png\">\u003C\u002Fp>\u003Cp>\u003Cem>Concorrentes\u003C\u002Fem>\u003C\u002Fp>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>\u003Cstrong>Shopping\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>ABL (m²)\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Público-alvo\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Nº de Lojas\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Âncoras\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Megalojas\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Satélites\u003C\u002Fstrong>\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>\u003Cstrong>DiamondMall\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>24.190,57\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>A e B\u003C\u002Ftd>\u003Ctd>\u003Cstrong>194\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>3\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>3\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>188\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Shopping Cidade\u003C\u002Ftd>\u003Ctd>21.849,95\u003C\u002Ftd>\u003Ctd>A, B e C\u003C\u002Ftd>\u003Ctd>150\u003C\u002Ftd>\u003Ctd>3\u003C\u002Ftd>\u003Ctd>4\u003C\u002Ftd>\u003Ctd>143\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Pátio Savassi\u003C\u002Ftd>\u003Ctd>21.075,10\u003C\u002Ftd>\u003Ctd>N\u002FI\u003C\u002Ftd>\u003Ctd>136\u003C\u002Ftd>\u003Ctd>4\u003C\u002Ftd>\u003Ctd>5\u003C\u002Ftd>\u003Ctd>127\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Boulevard Shopping BH\u003C\u002Ftd>\u003Ctd>43.016,00\u003C\u002Ftd>\u003Ctd>A, B e C\u003C\u002Ftd>\u003Ctd>185\u003C\u002Ftd>\u003Ctd>5\u003C\u002Ftd>\u003Ctd>8\u003C\u002Ftd>\u003Ctd>172\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Anchieta Garden\u003C\u002Ftd>\u003Ctd>20.777,58\u003C\u002Ftd>\u003Ctd>A e B\u003C\u002Ftd>\u003Ctd>63\u003C\u002Ftd>\u003Ctd>3\u003C\u002Ftd>\u003Ctd>1\u003C\u002Ftd>\u003Ctd>59\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Shopping Del Rey\u003C\u002Ftd>\u003Ctd>38.163,00\u003C\u002Ftd>\u003Ctd>A, B e C\u003C\u002Ftd>\u003Ctd>245\u003C\u002Ftd>\u003Ctd>13\u003C\u002Ftd>\u003Ctd>6\u003C\u002Ftd>\u003Ctd>226\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>TOTAL\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>173.629,11\u003C\u002Fstrong>\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\u002F3477\u002F3477.pdf-0039-00.png\">\u003C\u002Fp>\u003Cp>ED, NswaNcER\u003Cbr>EB BRAZIL\u003Cbr>\u003C\u002Fp>\u003Ch3>\u003Cstrong>6. ANÁLISE DA OPERAÇÃO\u003C\u002Fstrong>\u003C\u002Fh3>\u003Cp>Com base nas planilhas financeiras e econômicas, bem como das informações detalhadas de cada loja mês a mês de janeiro de 2018 a agosto de 2025, realizamos todas as análises de desempenho do empreendimento que nos balizaram nas projeções futuras de nossos fluxos de caixa.\u003C\u002Fp>\u003Cp>Os gráficos a seguir tem como objetivo entender o desenvolvimento dos valores em termos nominais, apresentados em vermelho, e em valores da base, descontados pelo IPCA, apresentados em azul.\u003C\u002Fp>\u003Ch4>\u003Cstrong>6.1. ALUGUEL MÍNIMO\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0039-05.png\">\u003C\u002Fp>\u003Cp>O gráfico acima tem como objetivo entender se há crescimento real de valores dos aluguéis mínimos. Nota-se que o empreendimento resistiu bem ao período de lockdown durante 2020 e 2021, apresentando rápida recuperação dos valores de aluguel mínimo.\u003C\u002Fp>\u003Cp>A seguir, apresentamos o comportamento dos valores por segmento, com as lojas âncora e megalojas apresentadas individualmente e as lojas satélites agrupadas conforme o segmento. Destaca-se, nesse contexto, a operação Pobre Juan, que registra um crescimento expressivo em outubro de 2024, passando a contribuir com pagamentos mensais de aluguel fixo.\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0040-00.png\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0040-01.png\">\u003C\u002Fp>\u003Cp>Desempenho Histórico de Aluguéis\u003Cbr>450 Empório Verdemar\u003Cbr>400\u003Cbr>350\u003Cbr>300\u003Cbr>250\u003Cbr>200\u003Cbr>150\u003Cbr>100\u003Cbr>50\u003Cbr>0\u003Cbr>R$\u002Fm² R$ da base\u002Fm²\u003Cbr>Desempenho Histórico de Aluguéis\u003Cbr>160 Fast Shop\u003Cbr>140\u003Cbr>120\u003Cbr>100\u003Cbr>80\u003Cbr>60\u003Cbr>40\u003Cbr>20\u003Cbr>0\u003Cbr>R$\u002Fm² R$ da base\u002Fm²\u003Cbr>Desempenho Histórico de Aluguéis\u003Cbr>Vestuário\u003Cbr>900\u003Cbr>800\u003Cbr>700\u003Cbr>600\u003Cbr>500\u003Cbr>400\u003Cbr>300\u003Cbr>200\u003Cbr>100\u003Cbr>0\u003Cbr>-100\u003Cbr>R$\u002Fm² R$ da base\u002Fm²\u003Cbr>Desempenho Histórico de Aluguéis\u003Cbr>1200 Alimentação\u003Cbr>1000\u003Cbr>800\u003Cbr>600\u003Cbr>400\u003Cbr>200\u003Cbr>0\u003Cbr>R$\u002Fm² R$ da base\u002Fm²\u003Cbr>Desempenho Histórico de Aluguéis\u003Cbr>Artigos Diversos\u003Cbr>700\u003Cbr>600\u003Cbr>500\u003Cbr>400\u003Cbr>300\u003Cbr>200\u003Cbr>100\u003Cbr>0\u003Cbr>R$\u002Fm² R$ da base\u002Fm²\u003Cbr>jan-18 mai-18 set-18 jan-19 mai-19 set-19 jan-20 mai-20 set-20 jan-21 mai-21 set-21 jan-22 mai-22 set-22 jan-23 mai-23 set-23 jan-24 mai-24 set-24 jan-25 mai-25\u003Cbr>jan-18 mai-18 set-18 jan-19 mai-19 set-19 jan-20 mai-20 set-20 jan-21 mai-21 set-21 jan-22 mai-22 set-22 jan-23 mai-23 set-23 jan-24 mai-24 set-24 jan-25 mai-25\u003Cbr>jan-18 mai-18 set-18 jan-19 mai-19 set-19 jan-20 mai-20 set-20 jan-21 mai-21 set-21 jan-22 mai-22 set-22 jan-23 mai-23 set-23 jan-24 mai-24 set-24 jan-25 mai-25\u003Cbr>jan-18 mai-18 set-18 jan-19 mai-19 set-19 jan-20 mai-20 set-20 jan-21 mai-21 set-21 jan-22 mai-22 set-22 jan-23 mai-23 set-23 jan-24 mai-24 set-24 jan-25 mai-25\u003Cbr>jan-18 mai-18 set-18 jan-19 mai-19 set-19 jan-20 mai-20 set-20 jan-21 mai-21 set-21 jan-22 mai-22 set-22 jan-23 mai-23 set-23 jan-24 mai-24 set-24 jan-25 mai-25\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0040-02.png\">\u003C\u002Fp>\u003Cp>Desempenho Histórico de Aluguéis\u003Cbr>600 Renner\u003Cbr>500\u003Cbr>400\u003Cbr>300\u003Cbr>200\u003Cbr>100\u003Cbr>0\u003Cbr>-100\u003Cbr>R$\u002Fm² R$ da base\u002Fm²\u003Cbr>Desempenho Histórico de Aluguéis\u003Cbr>160 Pobre Juan\u003Cbr>140\u003Cbr>120\u003Cbr>100\u003Cbr>80\u003Cbr>60\u003Cbr>40\u003Cbr>20\u003Cbr>0\u003Cbr>-20\u003Cbr>R$\u002Fm² R$ da base\u002Fm²\u003Cbr>Desempenho Histórico de Aluguéis\u003Cbr>250 Restaurante\u003Cbr>200\u003Cbr>150\u003Cbr>100\u003Cbr>50\u003Cbr>0\u003Cbr>-50\u003Cbr>R$\u002Fm² R$ da base\u002Fm²\u003Cbr>Desempenho Histórico de Aluguéis\u003Cbr>500 Artigos do Lar\u003Cbr>450\u003Cbr>400\u003Cbr>350\u003Cbr>300\u003Cbr>250\u003Cbr>200\u003Cbr>150\u003Cbr>100\u003Cbr>50\u003Cbr>0\u003Cbr>R$\u002Fm² R$ da base\u002Fm²\u003Cbr>Desempenho Histórico de Aluguéis\u003Cbr>Calçados\u003Cbr>1200\u003Cbr>1000\u003Cbr>800\u003Cbr>600\u003Cbr>400\u003Cbr>200\u003Cbr>0\u003Cbr>R$\u002Fm² R$ da base\u002Fm²\u003Cbr>jan-18 mai-18 set-18 jan-19 mai-19 set-19 jan-20 mai-20 set-20 jan-21 mai-21 set-21 jan-22 mai-22 set-22 jan-23 mai-23 set-23 jan-24 mai-24 set-24 jan-25 mai-25\u003Cbr>jan-18 mai-18 set-18 jan-19 mai-19 set-19 jan-20 mai-20 set-20 jan-21 mai-21 set-21 jan-22 mai-22 set-22 jan-23 mai-23 set-23 jan-24 mai-24 set-24 jan-25 mai-25\u003Cbr>jan-18 mai-18 set-18 jan-19 mai-19 set-19 jan-20 mai-20 set-20 jan-21 mai-21 set-21 jan-22 mai-22 set-22 jan-23 mai-23 set-23 jan-24 mai-24 set-24 jan-25 mai-25\u003Cbr>jan-18 mai-18 set-18 jan-19 mai-19 set-19 jan-20 mai-20 set-20 jan-21 mai-21 set-21 jan-22 mai-22 set-22 jan-23 mai-23 set-23 jan-24 mai-24 set-24 jan-25 mai-25\u003Cbr>jan-18 mai-18 set-18 jan-19 mai-19 set-19 jan-20 mai-20 set-20 jan-21 mai-21 set-21 jan-22 mai-22 set-22 jan-23 mai-23 set-23 jan-24 mai-24 set-24 jan-25 mai-25\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0041-00.png\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0041-01.png\">\u003C\u002Fp>\u003Cp>Desempenho Histórico de Aluguéis\u003Cbr>800 Conveniência e Serviços\u003Cbr>700\u003Cbr>600\u003Cbr>500\u003Cbr>400\u003Cbr>300\u003Cbr>200\u003Cbr>100\u003Cbr>0\u003Cbr>R$\u002Fm² R$ da base\u002Fm²\u003Cbr>Desempenho Histórico de Aluguéis\u003Cbr>1200 Joias, Relógios e Bijuterias\u003Cbr>1000\u003Cbr>800\u003Cbr>600\u003Cbr>400\u003Cbr>200\u003Cbr>0\u003Cbr>R$\u002Fm² R$ da base\u002Fm²\u003Cbr>Desempenho Histórico de Aluguéis\u003Cbr>Lazer\u003Cbr>45\u003Cbr>40\u003Cbr>35\u003Cbr>30\u003Cbr>25\u003Cbr>20\u003Cbr>15\u003Cbr>10\u003Cbr>5\u003Cbr>0\u003Cbr>R$\u002Fm² R$ da base\u002Fm²\u003Cbr>jan-18 mai-18 set-19 jan-20 mai-21 jan-23 mai-24 set-24\u003Cbr>mai-18 jan-19 jan-20 jan-21 jan-22 jan-23 jan-24\u003Cbr>jan-18 mai-18 set-18 jan-19 mai-19 set-19 jan-20 mai-20 set-20 jan-21 mai-21 set-21 jan-22 mai-22 set-22 jan-23 mai-23 set-23 jan-24 mai-24 set-24 jan-25 mai-25\u003Cbr>set-18 jan-19 mai-19 mai-20 set-20 jan-21 set-21 jan-22 mai-22 set-22 mai-23 set-23 jan-24 jan-25 mai-25\u003Cbr>jan-18 set-18 mai-19 set-19 mai-20 set-20 mai-21 set-21 mai-22 set-22 mai-23 set-23 mai-24 set-24 jan-25 mai-25\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0041-02.png\">\u003C\u002Fp>\u003Cp>Desempenho Histórico de Aluguéis\u003Cbr>1200 Perfumaria e Cosmético\u003Cbr>1000\u003Cbr>800\u003Cbr>600\u003Cbr>400\u003Cbr>200\u003Cbr>0\u003Cbr>R$\u002Fm² R$ da base\u002Fm²\u003Cbr>Desempenho Histórico de Aluguéis\u003Cbr>1600 Telefonia e Acessórios\u003Cbr>1400\u003Cbr>1200\u003Cbr>1000\u003Cbr>800\u003Cbr>600\u003Cbr>400\u003Cbr>200\u003Cbr>0\u003Cbr>R$\u002Fm² R$ da base\u002Fm²\u003Cbr>Desempenho Histórico de Aluguéis\u003Cbr>1600 Ótica\u003Cbr>1400\u003Cbr>1200\u003Cbr>1000\u003Cbr>800\u003Cbr>600\u003Cbr>400\u003Cbr>200\u003Cbr>0\u003Cbr>R$\u002Fm² R$ da base\u002Fm²\u003Cbr>jan-18 set-19 jan-20 set-21 jan-22 set-23 jan-24\u003Cbr>mai-19 set-19 mai-22 set-22 jan-23 mai-25\u003Cbr>jan-19 set-19 mai-20 jan-21 mai-23 jan-24 set-24 mai-25\u003Cbr>mai-18 set-18 jan-19 mai-19 mai-20 set-20 jan-21 mai-21 mai-22 set-22 jan-23 mai-23 mai-24 set-24 jan-25 mai-25\u003Cbr>jan-18 mai-18 set-18 jan-19 jan-20 mai-20 set-20 jan-21 mai-21 set-21 jan-22 mai-23 set-23 jan-24 mai-24 set-24 jan-25\u003Cbr>jan-18 mai-18 set-18 mai-19 jan-20 set-20 mai-21 set-21 jan-22 mai-22 set-22 jan-23 set-23 mai-24 jan-25\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0042-00.png\">\u003C\u002Fp>\u003Cp>ED, swancER\u003Cbr>EB BRAZIL\u003Cbr>\u003C\u002Fp>\u003Ch4>\u003Cstrong>6.2. ALUGUÉIS PERCENTUAIS \u002F COMPLEMENTARES\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>Os pagamentos de aluguéis complementares foram reduzidos durante o período da pandemia, acompanhando a retração nas vendas dos lojistas. No entanto, apresentaram uma recuperação rápida após esse período e, atualmente, mantêm-se em patamar estável, com elevação sazonal observada no mês de dezembro. Cabe ainda destacar que grande parte das lojas situadas na expansão do piso L4 apresenta participação relevante de aluguéis percentuais em sua composição contratual.\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0042-03.png\">\u003C\u002Fp>\u003Cp>O gráfico abaixo apresenta a média móvel de 12 meses dos valores, para minimizar as variações de sazonalidade mensal:\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0042-05.png\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0043-00.png\">\u003C\u002Fp>\u003Cp>A seguir, apresentamos o comportamento dos valores por segmento, com as lojas âncora e megalojas apresentadas individualmente e as lojas satélites agrupadas conforme o segmento. As lojas e segmentos não indicados não apresentam aluguel complementar recorrente.\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0043-02.png\">\u003C\u002Fp>\u003Cp>Desempenho Histórico de Aluguéis Desempenho Histórico de Aluguéis\u003Cbr>80 Cinemark 70 Outback Steakhouse\u003Cbr>70 60\u003Cbr>60\u003Cbr>50\u003Cbr>50\u003Cbr>40\u003Cbr>40\u003Cbr>30 30\u003Cbr>20 20\u003Cbr>10 10\u003Cbr>0 0\u003Cbr>R$\u002Fm² R$ da base\u002Fm² R$\u002Fm² R$ da base\u002Fm²\u003Cbr>Desempenho Histórico de Aluguéis Desempenho Histórico de Aluguéis\u003Cbr>70 Vestuário 140 Restaurante\u003Cbr>60 120\u003Cbr>50 100\u003Cbr>40 80\u003Cbr>30 60\u003Cbr>20 40\u003Cbr>10 20\u003Cbr>0 0\u003Cbr>R$\u002Fm² R$ da base\u002Fm² R$\u002Fm² R$ da base\u002Fm²\u003Cbr>Desempenho Histórico de Aluguéis Desempenho Histórico de Aluguéis\u003Cbr>Alimentação 100 Artigos do Lar\u003Cbr>120\u003Cbr>90\u003Cbr>100 80\u003Cbr>70\u003Cbr>80\u003Cbr>60\u003Cbr>60 50\u003Cbr>40\u003Cbr>40 30\u003Cbr>20 20\u003Cbr>10\u003Cbr>0 0\u003Cbr>R$\u002Fm² R$ da base\u002Fm²\u003Cbr>R$\u002Fm² R$ da base\u002Fm²\u003Cbr>Desempenho Histórico de Aluguéis Desempenho Histórico de Aluguéis\u003Cbr>40 Artigos Diversos 70 Calçados\u003Cbr>35\u003Cbr>60\u003Cbr>30\u003Cbr>50\u003Cbr>25\u003Cbr>40\u003Cbr>20\u003Cbr>30\u003Cbr>15\u003Cbr>10 20\u003Cbr>5 10\u003Cbr>0 0\u003Cbr>R$\u002Fm² R$ da base\u002Fm² R$\u002Fm² R$ da base\u002Fm²\u003Cbr>set-18 jan-19 mai-19 mai-20 set-20 jan-21 set-21 jan-22 mai-22 set-22 mai-23 set-23 jan-24 jan-25 mai-25 mai-18 set-18 jan-19 mai-19 mai-20 set-20 jan-21 mai-21 mai-22 set-22 jan-23 mai-23 mai-24 set-24 jan-25 mai-25\u003Cbr>jan-18 set-18 mai-19 set-19 mai-20 set-20 mai-21 set-21 mai-22 set-22 mai-23 set-23 mai-24 set-24 jan-25 mai-25 jan-18 mai-18 set-18 jan-19 jan-20 mai-20 set-20 jan-21 mai-21 set-21 jan-22 mai-23 set-23 jan-24 mai-24 set-24 jan-25\u003Cbr>jan-18 mai-18 set-18 mai-19 jan-20 set-20 mai-21 set-21 jan-22 mai-22 set-22 jan-23 set-23 mai-24 jan-25\u003Cbr>jan-18 mai-18 set-18 set-19 jan-20 mai-20 set-20 set-21 jan-22 mai-22 set-22 jan-23 jan-24 mai-24 set-24 jan-25 mai-25 mai-18 jan-19 set-19 mai-20 jan-21 set-21 jan-22 mai-22 set-22 jan-23 mai-23 set-23 jan-24 mai-24 set-24 mai-25\u003Cbr>jan-18 mai-18 set-19 jan-20 mai-21 jan-23 mai-24 set-24 jan-18 set-19 jan-20 set-21 jan-22 set-23 jan-24\u003Cbr>mai-18 jan-19 jan-20 jan-21 jan-22 jan-23 jan-24 mai-19 set-19 mai-22 set-22 jan-23 mai-25\u003Cbr>jan-18 mai-18 set-18 jan-19 mai-19 set-19 jan-20 mai-20 set-20 jan-21 mai-21 set-21 jan-22 mai-22 set-22 jan-23 mai-23 set-23 jan-24 mai-24 set-24 jan-25 mai-25 jan-19 set-19 mai-20 jan-21 mai-23 jan-24 set-24 mai-25\u003Cbr>jan-19 mai-19 jan-21 mai-21 mai-23 set-23 jan-18 set-18 mai-19 jan-20 set-20 mai-21 jan-25\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0044-00.png\">\u003C\u002Fp>\u003Cp>ED, swancER\u003Cbr>EB BRAZIL\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0044-01.png\">\u003C\u002Fp>\u003Cp>Desempenho Histórico de Aluguéis Desempenho Histórico de Aluguéis\u003Cbr>80 Conveniência e Serviços 100 Perfumaria e Cosmético\u003Cbr>70 90\u003Cbr>60 80\u003Cbr>70\u003Cbr>50 60\u003Cbr>40 50\u003Cbr>30 40\u003Cbr>20 30\u003Cbr>20\u003Cbr>10\u003Cbr>10\u003Cbr>0 0\u003Cbr>R$\u002Fm² R$ da base\u002Fm² R$\u002Fm² R$ da base\u002Fm²\u003Cbr>Desempenho Histórico de Aluguéis Desempenho Histórico de Aluguéis\u003Cbr>120 Joias, Relógios e Bijuterias 120 Telefonia e Acessórios\u003Cbr>100 100\u003Cbr>80 80\u003Cbr>60 60\u003Cbr>40 40\u003Cbr>20 20\u003Cbr>0 0\u003Cbr>R$\u002Fm² R$ da base\u002Fm² R$\u002Fm² R$ da base\u002Fm²\u003Cbr>jan-18 mai-18 set-18 jan-19 mai-19 set-19 jan-20 mai-20 set-20 jan-21 mai-21 set-21 jan-22 mai-22 set-22 jan-23 mai-23 set-23 jan-24 mai-24 set-24 jan-25 mai-25 jan-18 mai-18 set-18 jan-19 mai-19 set-19 jan-20 mai-20 set-20 jan-21 mai-21 set-21 jan-22 mai-22 set-22 jan-23 mai-23 set-23 jan-24 mai-24 set-24 jan-25 mai-25\u003Cbr>jan-18 mai-18 set-18 jan-19 mai-19 set-19 jan-20 mai-20 set-20 jan-21 mai-21 set-21 jan-22 mai-22 set-22 jan-23 mai-23 set-23 jan-24 mai-24 set-24 jan-25 mai-25 jan-18 mai-18 set-18 jan-19 mai-19 set-19 jan-20 mai-20 set-20 jan-21 mai-21 set-21 jan-22 mai-22 set-22 jan-23 mai-23 set-23 jan-24 mai-24 set-24 jan-25 mai-25\u003Cbr>\u003C\u002Fp>\u003Ch4>\u003Cstrong>6.3. RECEITA DE ESTACIONAMENTO\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0044-03.png\">\u003C\u002Fp>\u003Cp>As receitas de estacionamento também estão em constante crescimento, acompanhando o aumento de fluxo no empreendimento.\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0045-00.png\">\u003C\u002Fp>\u003Cp>BRAZIL\u003Cbr>EB sinsmanges\u003Cbr>\u003C\u002Fp>\u003Ch4>\u003Cstrong>6.4. VACÂNCIA\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0045-02.png\">\u003C\u002Fp>\u003Cp>Desempenho Histórico\u003Cbr>Taxa de Vacância\u003Cbr>5.000 100%\u003Cbr>4.500 90%\u003Cbr>4.000 80%\u003Cbr>3.500 70%\u003Cbr>3.000 60%\u003Cbr>2.500 50%\u003Cbr>2.000 40%\u003Cbr>1.500 30%\u003Cbr>1.000 20%\u003Cbr>500 10%\u003Cbr>o 0%\u003Cbr>qassanasssangasananasãas\u003Cbr>LERRERAZRAERAZARAEAEEAAE\u003Cbr>ERES ABL Vaga (m?) —— Taxa de Ocupação\u003Cbr>\u003C\u002Fp>\u003Cp>O empreendimento apresenta historicamente uma baixa taxa de vacância, oscilando consistentemente entre 3% e 5%. Em dezembro de 2021, com a saída da Companhia Atlética, houve uma redução significativa na área ocupada, a qual foi rapidamente compensada pela entrada de novos lojistas. Atualmente, a vacância encontra-se em 9,5%, reflexo da recente expansão do empreendimento, cujas novas lojas ainda estão em processo de absorção.\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0046-00.png\">\u003C\u002Fp>\u003Cp>ED, swancER\u003Cbr>EB BRAZIL\u003Cbr>\u003C\u002Fp>\u003Ch4>\u003Cstrong>6.5. DESPESAS\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0046-02.png\">\u003C\u002Fp>\u003Cp>Desempenho Histórico\u003Cbr>Despesas Totais\u003Cbr>4.000\u003Cbr>q8\u003Cbr>E 3.500\u003Cbr>E\u003Cbr>E 3.000\u003Cbr>2.500\u003Cbr>2.000\u003Cbr>1.500\u003Cbr>1.000\u003Cbr>500\u003Cbr>0 vennancocondanaannanstasau\u003Cbr>LIT TITIIARIIT TILT\u003Cbr>atsaBaacaaiasiaagasEaaE\u003Cbr>— R$ — R$ da base\u003Cbr>\u003C\u002Fp>\u003Cp>As despesas operacionais cresceram em linha com a evolução das receitas de aluguel, superando os níveis observados em 2019. Dentre os principais componentes de despesa, destacam-se os encargos relativos às lojas vagas — com maior concentração na área de expansão — e os custos associados às ações de promoção e publicidade voltadas à divulgação do novo piso.\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0047-00.png\">\u003C\u002Fp>\u003Cp>ED, swancER\u003Cbr>EB BRAZIL\u003Cbr>\u003C\u002Fp>\u003Ch4>\u003Cstrong>6.6. RESULTADO LÍQUIDO OPERACIONAL\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0047-02.png\">\u003C\u002Fp>\u003Cp>Desempenho Histórico\u003Cbr>Resultado Operacional Líquido\u003Cbr>12.000\u003Cbr>q\u003Cbr>2\u003Cbr>E 10.000\u003Cbr>Z 800\u003Cbr>6.000\u003Cbr>4.000\u003Cbr>2.000\u003Cbr>0 vcensnancocondanaannantasau\u003Cbr>LIT TITIIARIIT TILT\u003Cbr>atsaBaacaaiasiaagasEaaE\u003Cbr>—s ——\u003Cbr>R$ da base\u003Cbr>\u003C\u002Fp>\u003Ch4>\u003Cstrong>6.7. RESULTADO LÍQUIDO\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0047-04.png\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0048-00.png\">\u003C\u002Fp>\u003Cp>ED\u003Cbr>MDS INSWANÇER\u003Cbr>\u003C\u002Fp>\u003Ch3>\u003Cstrong>7. 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 e 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>Serão realizados exercícios em cenário conservador, 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\u002F3477\u002F3477.pdf-0049-00.png\">\u003C\u002Fp>\u003Ch3>\u003Cstrong>8. 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>8.1. ÁREAS ADOTADAS - ABL\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>A seguir, apresentamos as premissas utilizadas na análise do empreendimento.\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>\u003Cstrong>Âncoras\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>4.717,72\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-25\u002FGD-25\u002FGD-26\u003C\u002Ftd>\u003Ctd>Cinemark\u003C\u002Ftd>\u003Ctd>2.169,92\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>M-01\u002F38\u003C\u002Ftd>\u003Ctd>Empório Verdemar\u003C\u002Ftd>\u003Ctd>1.365,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>GD-01A\u002FGD-07\u003C\u002Ftd>\u003Ctd>Renner\u003C\u002Ftd>\u003Ctd>1.182,80\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Mega Lojas\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>1.626,79\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>GD-22\u003C\u002Ftd>\u003Ctd>Fast Shop\u003C\u002Ftd>\u003Ctd>671,15\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>GD-47\u003C\u002Ftd>\u003Ctd>Pobre Juan\u003C\u002Ftd>\u003Ctd>494,41\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-16 a 19A\u002F21\u002F22\u002F23\u003C\u002Ftd>\u003Ctd>Outback Steakhouse\u003C\u002Ftd>\u003Ctd>461,23\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Satélites\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>15.890,76\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-13\u002F14\u002F15\u003C\u002Ftd>\u003Ctd>Drogaria Araujo\u003C\u002Ftd>\u003Ctd>444,66\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>RS-01\u003C\u002Ftd>\u003Ctd>Dolce & Gabbana\u003C\u002Ftd>\u003Ctd>376,85\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>RS-36\u002F37\u003C\u002Ftd>\u003Ctd>Su\u003C\u002Ftd>\u003Ctd>376,84\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>GD-08\u003C\u002Ftd>\u003Ctd>Camicado\u003C\u002Ftd>\u003Ctd>348,62\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>RS-02\u003C\u002Ftd>\u003Ctd>Empório Armani\u003C\u002Ftd>\u003Ctd>311,49\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>RS-35\u003C\u002Ftd>\u003Ctd>Zucco Cucina\u003C\u002Ftd>\u003Ctd>307,93\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>GD-13\u003C\u002Ftd>\u003Ctd>Leitura\u003C\u002Ftd>\u003Ctd>281,10\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>GD-05\u002F06\u003C\u002Ftd>\u003Ctd>La Ville\u003C\u002Ftd>\u003Ctd>280,63\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>RS-09\u003C\u002Ftd>\u003Ctd>Nati Vozza\u003C\u002Ftd>\u003Ctd>275,08\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-01\u002F02\u003C\u002Ftd>\u003Ctd>Iplace\u003C\u002Ftd>\u003Ctd>271,92\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-25\u002F26\u002F27\u003C\u002Ftd>\u003Ctd>Cabanã Porteña\u003C\u002Ftd>\u003Ctd>244,87\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>RS-19\u002F20\u002F21A\u003C\u002Ftd>\u003Ctd>Alo Yoga\u003C\u002Ftd>\u003Ctd>234,06\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-21A\u002F22\u002F22B\u003C\u002Ftd>\u003Ctd>Adidas\u003C\u002Ftd>\u003Ctd>221,52\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>RS-15A\u003C\u002Ftd>\u003Ctd>Charth\u003C\u002Ftd>\u003Ctd>207,21\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-21\u003C\u002Ftd>\u003Ctd>Brooksfield\u003C\u002Ftd>\u003Ctd>205,60\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>RS-23\u002F24\u003C\u002Ftd>\u003Ctd>Ch Carolina Herrera\u003C\u002Ftd>\u003Ctd>204,82\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>RS-38\u003C\u002Ftd>\u003Ctd>Lagar Tragaluz\u003C\u002Ftd>\u003Ctd>193,70\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>RS-13\u002F14\u003C\u002Ftd>\u003Ctd>Cris Barros\u003C\u002Ftd>\u003Ctd>191,40\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0050-00.png\">\u003C\u002Fp>\u003Cp>ED\u003Cbr>MDS INSWANÇER\u003Cbr>\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>OM-22A\u003C\u002Ftd>\u003Ctd>New Balance\u003C\u002Ftd>\u003Ctd>181,03\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>GD-11\u003C\u002Ftd>\u003Ctd>Shoulder\u003C\u002Ftd>\u003Ctd>167,56\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-30\u003C\u002Ftd>\u003Ctd>Pecorino\u003C\u002Ftd>\u003Ctd>166,35\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>GD-10\u003C\u002Ftd>\u003Ctd>Estripulia\u003C\u002Ftd>\u003Ctd>164,62\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>GD-04\u003C\u002Ftd>\u003Ctd>Track & Field\u003C\u002Ftd>\u003Ctd>164,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>GD-48\u003C\u002Ftd>\u003Ctd>Caravela\u003C\u002Ftd>\u003Ctd>157,25\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-31\u002F32\u002F33\u003C\u002Ftd>\u003Ctd>Hugo Boss\u003C\u002Ftd>\u003Ctd>152,50\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>RS-12\u003C\u002Ftd>\u003Ctd>Agilitá\u003C\u002Ftd>\u003Ctd>152,41\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>GD-09\u003C\u002Ftd>\u003Ctd>Via Veneto\u003C\u002Ftd>\u003Ctd>151,41\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>RS-10\u002F11\u003C\u002Ftd>\u003Ctd>Pat Bo\u003C\u002Ftd>\u003Ctd>147,40\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-54\u002F55\u002F56\u003C\u002Ftd>\u003Ctd>Cacau Show\u003C\u002Ftd>\u003Ctd>140,95\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>GD-14\u002F15\u003C\u002Ftd>\u003Ctd>Diesel\u003C\u002Ftd>\u003Ctd>140,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-24\u002F24A\u003C\u002Ftd>\u003Ctd>Kimmiso\u003C\u002Ftd>\u003Ctd>134,33\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-11\u002F12\u003C\u002Ftd>\u003Ctd>M.Martan\u003C\u002Ftd>\u003Ctd>134,32\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>GD-16\u002F17\u003C\u002Ftd>\u003Ctd>Ave Rara\u003C\u002Ftd>\u003Ctd>134,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>GD-20\u002F21\u003C\u002Ftd>\u003Ctd>Planeta Imaginário\u003C\u002Ftd>\u003Ctd>134,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-19\u002F20\u003C\u002Ftd>\u003Ctd>Casa Almeida\u003C\u002Ftd>\u003Ctd>132,51\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-10\u003C\u002Ftd>\u003Ctd>Richards\u003C\u002Ftd>\u003Ctd>129,51\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>GD-23\u002F24\u003C\u002Ftd>\u003Ctd>Pb Kids\u003C\u002Ftd>\u003Ctd>127,18\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>RS-17\u002F18\u003C\u002Ftd>\u003Ctd>Iorane\u003C\u002Ftd>\u003Ctd>125,50\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-42\u002F43\u003C\u002Ftd>\u003Ctd>Mc Donald'S\u003C\u002Ftd>\u003Ctd>125,31\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-14\u002F15\u003C\u002Ftd>\u003Ctd>Osklen\u003C\u002Ftd>\u003Ctd>121,74\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-33\u002F34\u003C\u002Ftd>\u003Ctd>Lm Studio\u003C\u002Ftd>\u003Ctd>116,82\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>RS-21\u002F22\u003C\u002Ftd>\u003Ctd>Tory Burch\u003C\u002Ftd>\u003Ctd>112,12\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-38\u003C\u002Ftd>\u003Ctd>Dona Conceição\u003C\u002Ftd>\u003Ctd>110,44\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-12\u002F13\u003C\u002Ftd>\u003Ctd>Reserva\u003C\u002Ftd>\u003Ctd>110,40\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-03\u002F04\u003C\u002Ftd>\u003Ctd>Vivo\u003C\u002Ftd>\u003Ctd>108,66\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-11\u003C\u002Ftd>\u003Ctd>Beleza Na Web\u003C\u002Ftd>\u003Ctd>108,32\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-85\u002F86\u003C\u002Ftd>\u003Ctd>Aramis\u003C\u002Ftd>\u003Ctd>107,31\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-09\u002F10\u003C\u002Ftd>\u003Ctd>Claro\u003C\u002Ftd>\u003Ctd>106,73\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-82\u002F83\u003C\u002Ftd>\u003Ctd>H. Stern\u003C\u002Ftd>\u003Ctd>106,65\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-29\u003C\u002Ftd>\u003Ctd>Eddie Fine Burger\u003C\u002Ftd>\u003Ctd>106,31\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-40\u002F41\u003C\u002Ftd>\u003Ctd>Arezzo\u003C\u002Ftd>\u003Ctd>104,98\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-61\u002F62\u002F63\u003C\u002Ftd>\u003Ctd>Bel Cosméticos\u003C\u002Ftd>\u003Ctd>104,94\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-63\u002F64\u003C\u002Ftd>\u003Ctd>Vivara\u003C\u002Ftd>\u003Ctd>104,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-06\u002F07\u003C\u002Ftd>\u003Ctd>Lizie\u003C\u002Ftd>\u003Ctd>102,24\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-30\u002F31\u002F32\u003C\u002Ftd>\u003Ctd>K9\u003C\u002Ftd>\u003Ctd>97,33\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>RS-15\u003C\u002Ftd>\u003Ctd>One Up\u003C\u002Ftd>\u003Ctd>96,89\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-74\u002F75\u003C\u002Ftd>\u003Ctd>Brooksfield Donna\u003C\u002Ftd>\u003Ctd>94,31\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>GD-29\u002F36\u003C\u002Ftd>\u003Ctd>Mob\u003C\u002Ftd>\u003Ctd>92,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-02\u002F03\u003C\u002Ftd>\u003Ctd>Luxe\u003C\u002Ftd>\u003Ctd>91,75\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-66\u002F67\u003C\u002Ftd>\u003Ctd>Água De Coco\u003C\u002Ftd>\u003Ctd>90,73\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0051-00.png\">\u003C\u002Fp>\u003Cp>ED\u003Cbr>MDS INSWANÇER\u003Cbr>\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>BG-44\u002F44A\u002F45\u003C\u002Ftd>\u003Ctd>Tim\u003C\u002Ftd>\u003Ctd>90,54\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-49\u002F50\u003C\u002Ftd>\u003Ctd>Colcci\u003C\u002Ftd>\u003Ctd>86,94\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>GD-03\u003C\u002Ftd>\u003Ctd>Lofty Style\u003C\u002Ftd>\u003Ctd>85,76\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-30\u002FA\u003C\u002Ftd>\u003Ctd>Oficina Reserva\u003C\u002Ftd>\u003Ctd>85,36\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-76\u003C\u002Ftd>\u003Ctd>Maria Filó\u003C\u002Ftd>\u003Ctd>83,50\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>GD-32\u002F33\u003C\u002Ftd>\u003Ctd>Schutz\u003C\u002Ftd>\u003Ctd>81,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-69\u002F70\u003C\u002Ftd>\u003Ctd>Luiza Barcelos\u003C\u002Ftd>\u003Ctd>80,55\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-42\u002F43\u003C\u002Ftd>\u003Ctd>Lacoste\u003C\u002Ftd>\u003Ctd>80,32\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-16\u003C\u002Ftd>\u003Ctd>Vix\u003C\u002Ftd>\u003Ctd>79,57\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-51\u002F52\u002F53\u003C\u002Ftd>\u003Ctd>Forum\u003C\u002Ftd>\u003Ctd>77,89\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>RS-27\u002F28\u003C\u002Ftd>\u003Ctd>Chanel F&B\u003C\u002Ftd>\u003Ctd>77,14\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>GD-27\u003C\u002Ftd>\u003Ctd>Kipling\u003C\u002Ftd>\u003Ctd>76,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-57\u002F57A\u003C\u002Ftd>\u003Ctd>Columbia\u003C\u002Ftd>\u003Ctd>74,76\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>RS-25\u002F26\u003C\u002Ftd>\u003Ctd>Tânia Bulhões Perfumes\u003C\u002Ftd>\u003Ctd>74,19\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>GD-44\u002F45\u003C\u002Ftd>\u003Ctd>Monte Carlo\u003C\u002Ftd>\u003Ctd>72,64\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-54\u002F55\u003C\u002Ftd>\u003Ctd>Live!\u003C\u002Ftd>\u003Ctd>70,23\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-46\u002F47\u003C\u002Ftd>\u003Ctd>Roscoe\u003C\u002Ftd>\u003Ctd>69,35\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-48\u002F49\u003C\u002Ftd>\u003Ctd>Vivara Life\u003C\u002Ftd>\u003Ctd>68,84\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>RS-31\u003C\u002Ftd>\u003Ctd>Anselmi\u003C\u002Ftd>\u003Ctd>68,53\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-39\u003C\u002Ftd>\u003Ctd>Klus\u003C\u002Ftd>\u003Ctd>68,50\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-38\u003C\u002Ftd>\u003Ctd>Kopenhagen\u003C\u002Ftd>\u003Ctd>66,53\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>RS-33\u003C\u002Ftd>\u003Ctd>Fillity\u003C\u002Ftd>\u003Ctd>66,49\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-18\u003C\u002Ftd>\u003Ctd>Paola Da Vinci\u003C\u002Ftd>\u003Ctd>66,27\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-17\u003C\u002Ftd>\u003Ctd>2Dnm\u003C\u002Ftd>\u003Ctd>66,27\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-28\u002F29\u003C\u002Ftd>\u003Ctd>Bagaggio\u003C\u002Ftd>\u003Ctd>65,01\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>GD-37\u002F38\u003C\u002Ftd>\u003Ctd>Óticas Carol\u003C\u002Ftd>\u003Ctd>62,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-67\u002F68\u003C\u002Ftd>\u003Ctd>Spiga\u003C\u002Ftd>\u003Ctd>61,90\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>GD-31\u003C\u002Ftd>\u003Ctd>Army Br\u003C\u002Ftd>\u003Ctd>61,60\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-73\u003C\u002Ftd>\u003Ctd>Brooksfield Jr.\u003C\u002Ftd>\u003Ctd>61,13\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>RS-30\u003C\u002Ftd>\u003Ctd>Plural\u003C\u002Ftd>\u003Ctd>60,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-61\u002F62A\u003C\u002Ftd>\u003Ctd>Dengo\u003C\u002Ftd>\u003Ctd>59,56\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-77\u003C\u002Ftd>\u003Ctd>Intimissimi\u003C\u002Ftd>\u003Ctd>59,11\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-72\u003C\u002Ftd>\u003Ctd>Manoel Bernardes\u003C\u002Ftd>\u003Ctd>58,25\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-52\u002F53\u003C\u002Ftd>\u003Ctd>Optical Express\u003C\u002Ftd>\u003Ctd>57,55\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-23\u003C\u002Ftd>\u003Ctd>Usaflex\u003C\u002Ftd>\u003Ctd>56,90\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>GD-43\u003C\u002Ftd>\u003Ctd>Swarovski\u003C\u002Ftd>\u003Ctd>56,52\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-28\u003C\u002Ftd>\u003Ctd>Bacio Di Latte\u003C\u002Ftd>\u003Ctd>55,60\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-05\u003C\u002Ftd>\u003Ctd>Decolar\u003C\u002Ftd>\u003Ctd>55,50\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-08\u003C\u002Ftd>\u003Ctd>Havaianas\u003C\u002Ftd>\u003Ctd>54,86\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-87\u003C\u002Ftd>\u003Ctd>L'Occitane En Provence\u003C\u002Ftd>\u003Ctd>52,69\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-07\u003C\u002Ftd>\u003Ctd>O Boticário\u003C\u002Ftd>\u003Ctd>52,65\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-06\u003C\u002Ftd>\u003Ctd>Cute Case Store\u003C\u002Ftd>\u003Ctd>51,50\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0052-00.png\">\u003C\u002Fp>\u003Cp>ED\u003Cbr>MDS INSWANÇER\u003Cbr>\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>OM-81\u003C\u002Ftd>\u003Ctd>The North Face\u003C\u002Ftd>\u003Ctd>51,27\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-80\u003C\u002Ftd>\u003Ctd>Cia Marítima\u003C\u002Ftd>\u003Ctd>51,27\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-79\u003C\u002Ftd>\u003Ctd>Pandora\u003C\u002Ftd>\u003Ctd>51,27\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-36\u003C\u002Ftd>\u003Ctd>Samsonite\u003C\u002Ftd>\u003Ctd>51,25\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-35\u003C\u002Ftd>\u003Ctd>Calzedonia\u003C\u002Ftd>\u003Ctd>51,25\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-09\u003C\u002Ftd>\u003Ctd>Democrata\u003C\u002Ftd>\u003Ctd>51,14\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-04\u003C\u002Ftd>\u003Ctd>Luz Da Lua\u003C\u002Ftd>\u003Ctd>51,12\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-05\u003C\u002Ftd>\u003Ctd>Porti\u003C\u002Ftd>\u003Ctd>51,12\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-08\u003C\u002Ftd>\u003Ctd>Perfumaria Granado\u003C\u002Ftd>\u003Ctd>51,07\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-41A\u003C\u002Ftd>\u003Ctd>Kfc\u003C\u002Ftd>\u003Ctd>50,87\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-41\u003C\u002Ftd>\u003Ctd>Assacabrasa\u003C\u002Ftd>\u003Ctd>50,87\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-01\u003C\u002Ftd>\u003Ctd>Dudalina\u003C\u002Ftd>\u003Ctd>50,43\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-34\u003C\u002Ftd>\u003Ctd>Lindt\u003C\u002Ftd>\u003Ctd>48,98\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>GD-12\u003C\u002Ftd>\u003Ctd>Lupo\u003C\u002Ftd>\u003Ctd>48,84\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>RS-32\u003C\u002Ftd>\u003Ctd>Paula Torres\u003C\u002Ftd>\u003Ctd>48,76\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-84\u003C\u002Ftd>\u003Ctd>Victor Hugo\u003C\u002Ftd>\u003Ctd>47,81\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-44\u002FB\u003C\u002Ftd>\u003Ctd>Samsung\u003C\u002Ftd>\u003Ctd>47,80\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-88\u003C\u002Ftd>\u003Ctd>Galeria Tricot\u003C\u002Ftd>\u003Ctd>47,73\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-45\u003C\u002Ftd>\u003Ctd>Sunika\u003C\u002Ftd>\u003Ctd>47,28\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-58\u003C\u002Ftd>\u003Ctd>Danki\u003C\u002Ftd>\u003Ctd>46,10\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-59\u003C\u002Ftd>\u003Ctd>Adcos\u003C\u002Ftd>\u003Ctd>46,10\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-60\u003C\u002Ftd>\u003Ctd>Grandvision By Fotótica\u003C\u002Ftd>\u003Ctd>46,10\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-75\u003C\u002Ftd>\u003Ctd>Divino Fogão\u003C\u002Ftd>\u003Ctd>45,86\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-60\u003C\u002Ftd>\u003Ctd>Centro Visão\u003C\u002Ftd>\u003Ctd>45,27\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-46\u003C\u002Ftd>\u003Ctd>Ludique Et Badin\u003C\u002Ftd>\u003Ctd>45,20\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-47\u003C\u002Ftd>\u003Ctd>Brasil Em Gotas\u003C\u002Ftd>\u003Ctd>45,10\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-48\u003C\u002Ftd>\u003Ctd>Hope\u003C\u002Ftd>\u003Ctd>45,10\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>GD-28\u003C\u002Ftd>\u003Ctd>Wamp\u003C\u002Ftd>\u003Ctd>44,30\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-65\u003C\u002Ftd>\u003Ctd>Sunglass Hut\u003C\u002Ftd>\u003Ctd>42,83\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-57\u003C\u002Ftd>\u003Ctd>Vx Case\u003C\u002Ftd>\u003Ctd>42,17\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-35A\u002F36\u003C\u002Ftd>\u003Ctd>Uv.Line\u003C\u002Ftd>\u003Ctd>41,20\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>GD-42\u003C\u002Ftd>\u003Ctd>Les Nereides\u003C\u002Ftd>\u003Ctd>41,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-44\u003C\u002Ftd>\u003Ctd>Plié\u003C\u002Ftd>\u003Ctd>40,57\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>GD-30\u003C\u002Ftd>\u003Ctd>Kopenhagen\u003C\u002Ftd>\u003Ctd>39,85\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-50\u003C\u002Ftd>\u003Ctd>Deco Skin\u003C\u002Ftd>\u003Ctd>36,75\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-64\u003C\u002Ftd>\u003Ctd>Belvitur\u003C\u002Ftd>\u003Ctd>36,52\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-56\u003C\u002Ftd>\u003Ctd>Anacapri\u003C\u002Ftd>\u003Ctd>36,49\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-65\u003C\u002Ftd>\u003Ctd>Travalex\u003C\u002Ftd>\u003Ctd>36,18\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-78\u003C\u002Ftd>\u003Ctd>Milon\u003C\u002Ftd>\u003Ctd>35,54\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>S-06\u002F07\u003C\u002Ftd>\u003Ctd>Gobox\u003C\u002Ftd>\u003Ctd>35,52\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>GD-23A\u003C\u002Ftd>\u003Ctd>Mr. Cheney\u003C\u002Ftd>\u003Ctd>35,12\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>GD-35\u003C\u002Ftd>\u003Ctd>Shorts & Co\u003C\u002Ftd>\u003Ctd>35,00\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0053-00.png\">\u003C\u002Fp>\u003Cp>EB\u003Cbr>BD SINSVANGER\u003Cbr>\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>BG-78\u003C\u002Ftd>\u003Ctd>Pequim 2000\u003C\u002Ftd>\u003Ctd>34,54\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>GD-34\u003C\u002Ftd>\u003Ctd>Puket\u003C\u002Ftd>\u003Ctd>34,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-51\u003C\u002Ftd>\u003Ctd>Arranjos Express\u003C\u002Ftd>\u003Ctd>33,90\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-58\u003C\u002Ftd>\u003Ctd>Picchioni Câmbio\u003C\u002Ftd>\u003Ctd>33,67\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-59\u003C\u002Ftd>\u003Ctd>Cvc\u003C\u002Ftd>\u003Ctd>33,67\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-71\u003C\u002Ftd>\u003Ctd>Spoleto\u003C\u002Ftd>\u003Ctd>33,41\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-66\u003C\u002Ftd>\u003Ctd>Encontro\u003C\u002Ftd>\u003Ctd>33,37\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>RS-29\u003C\u002Ftd>\u003Ctd>Occhialeria\u003C\u002Ftd>\u003Ctd>33,32\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-24\u002FA\u003C\u002Ftd>\u003Ctd>Sergio'S\u003C\u002Ftd>\u003Ctd>32,51\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-25\u002FA\u003C\u002Ftd>\u003Ctd>Paramour\u003C\u002Ftd>\u003Ctd>32,51\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-76\u003C\u002Ftd>\u003Ctd>Montana Grill\u003C\u002Ftd>\u003Ctd>32,27\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-29\u002FA\u003C\u002Ftd>\u003Ctd>Ah! Bon\u003C\u002Ftd>\u003Ctd>31,96\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-70\u003C\u002Ftd>\u003Ctd>Gelato Borelli\u003C\u002Ftd>\u003Ctd>31,90\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-37\u003C\u002Ftd>\u003Ctd>Caleidoscópio\u003C\u002Ftd>\u003Ctd>31,65\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>GD-40\u003C\u002Ftd>\u003Ctd>Espaço Laser\u003C\u002Ftd>\u003Ctd>31,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>S-01\u002F02\u003C\u002Ftd>\u003Ctd>Lotérica\u003C\u002Ftd>\u003Ctd>30,64\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>GD-02\u003C\u002Ftd>\u003Ctd>Mi Garba!\u003C\u002Ftd>\u003Ctd>30,48\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-77\u003C\u002Ftd>\u003Ctd>Mr. Cacio\u003C\u002Ftd>\u003Ctd>30,30\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>S-03\u002F04\u003C\u002Ftd>\u003Ctd>Lettera\u003C\u002Ftd>\u003Ctd>30,06\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-69\u003C\u002Ftd>\u003Ctd>Pizza Pazza\u003C\u002Ftd>\u003Ctd>30,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-73\u003C\u002Ftd>\u003Ctd>Boali\u003C\u002Ftd>\u003Ctd>29,37\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-74\u003C\u002Ftd>\u003Ctd>Pizzaria Sion\u003C\u002Ftd>\u003Ctd>29,37\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-72\u003C\u002Ftd>\u003Ctd>Mania De Grelhados\u003C\u002Ftd>\u003Ctd>29,37\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>GD-46\u003C\u002Ftd>\u003Ctd>Isla\u003C\u002Ftd>\u003Ctd>27,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>GD-41\u003C\u002Ftd>\u003Ctd>Biscoitê\u003C\u002Ftd>\u003Ctd>26,48\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-35\u003C\u002Ftd>\u003Ctd>Milky Moo\u003C\u002Ftd>\u003Ctd>26,26\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BG-37\u003C\u002Ftd>\u003Ctd>Lúmini\u003C\u002Ftd>\u003Ctd>20,84\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>S-08\u003C\u002Ftd>\u003Ctd>Foto Já\u003C\u002Ftd>\u003Ctd>18,36\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>S-05\u003C\u002Ftd>\u003Ctd>Magic Cap\u003C\u002Ftd>\u003Ctd>17,63\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-27\u003C\u002Ftd>\u003Ctd>L'Occitane Au Brésil\u003C\u002Ftd>\u003Ctd>17,43\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>OM-26\u003C\u002Ftd>\u003Ctd>Mc Donald'S\u003C\u002Ftd>\u003Ctd>14,88\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Loja Vaga\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>1.955,30\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>24.190,57\u003C\u002Fstrong>\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>4.717,72\u003C\u002Ftd>\u003Ctd>3\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Mega Loja\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>1.626,79\u003C\u002Ftd>\u003Ctd>3\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Satélite\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>15.890,76\u003C\u002Ftd>\u003Ctd>175\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Loja Vaga\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>1.955,30\u003C\u002Ftd>\u003Ctd>13\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Total\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>24.190,57\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>194\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0054-00.png\">\u003C\u002Fp>\u003Cp>ED\u003Cbr>MDS INSWANÇER\u003Cbr>\u003C\u002Fp>\u003Ch4>\u003Cstrong>8.2. 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 faturados dos últimos meses, 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>Cinemark\u003C\u002Ftd>\u003Ctd>Âncora\u003C\u002Ftd>\u003Ctd>2.169,92\u003C\u002Ftd>\u003Ctd>0,00\u003C\u002Ftd>\u003Ctd>44,48\u003C\u002Ftd>\u003Ctd>44,48\u003C\u002Ftd>\u003Ctd>12,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Empório Verdemar\u003C\u002Ftd>\u003Ctd>Âncora\u003C\u002Ftd>\u003Ctd>1.365,00\u003C\u002Ftd>\u003Ctd>250,49\u003C\u002Ftd>\u003Ctd>0,00\u003C\u002Ftd>\u003Ctd>250,49\u003C\u002Ftd>\u003Ctd>13,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Renner\u003C\u002Ftd>\u003Ctd>Âncora\u003C\u002Ftd>\u003Ctd>1.182,80\u003C\u002Ftd>\u003Ctd>264,21\u003C\u002Ftd>\u003Ctd>0,00\u003C\u002Ftd>\u003Ctd>264,21\u003C\u002Ftd>\u003Ctd>12,50\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Fast Shop\u003C\u002Ftd>\u003Ctd>Mega Loja\u003C\u002Ftd>\u003Ctd>671,15\u003C\u002Ftd>\u003Ctd>119,20\u003C\u002Ftd>\u003Ctd>0,00\u003C\u002Ftd>\u003Ctd>119,20\u003C\u002Ftd>\u003Ctd>13,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Pobre Juan\u003C\u002Ftd>\u003Ctd>Mega Loja\u003C\u002Ftd>\u003Ctd>494,41\u003C\u002Ftd>\u003Ctd>99,58\u003C\u002Ftd>\u003Ctd>0,00\u003C\u002Ftd>\u003Ctd>99,58\u003C\u002Ftd>\u003Ctd>12,50\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Outback Steakhouse\u003C\u002Ftd>\u003Ctd>Mega Loja\u003C\u002Ftd>\u003Ctd>461,23\u003C\u002Ftd>\u003Ctd>0,00\u003C\u002Ftd>\u003Ctd>47,15\u003C\u002Ftd>\u003Ctd>47,15\u003C\u002Ftd>\u003Ctd>12,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Vestuário\u003C\u002Ftd>\u003Ctd>Satélite\u003C\u002Ftd>\u003Ctd>6.257,74\u003C\u002Ftd>\u003Ctd>235,92\u003C\u002Ftd>\u003Ctd>55,94\u003C\u002Ftd>\u003Ctd>291,86\u003C\u002Ftd>\u003Ctd>13,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Restaurante\u003C\u002Ftd>\u003Ctd>Satélite\u003C\u002Ftd>\u003Ctd>1.557,38\u003C\u002Ftd>\u003Ctd>87,16\u003C\u002Ftd>\u003Ctd>65,59\u003C\u002Ftd>\u003Ctd>152,74\u003C\u002Ftd>\u003Ctd>13,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Alimentação\u003C\u002Ftd>\u003Ctd>Satélite\u003C\u002Ftd>\u003Ctd>1.331,67\u003C\u002Ftd>\u003Ctd>503,28\u003C\u002Ftd>\u003Ctd>11,48\u003C\u002Ftd>\u003Ctd>514,76\u003C\u002Ftd>\u003Ctd>13,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Artigos do Lar\u003C\u002Ftd>\u003Ctd>Satélite\u003C\u002Ftd>\u003Ctd>991,61\u003C\u002Ftd>\u003Ctd>201,26\u003C\u002Ftd>\u003Ctd>29,16\u003C\u002Ftd>\u003Ctd>230,42\u003C\u002Ftd>\u003Ctd>13,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Artigos Diversos\u003C\u002Ftd>\u003Ctd>Satélite\u003C\u002Ftd>\u003Ctd>1.270,99\u003C\u002Ftd>\u003Ctd>321,18\u003C\u002Ftd>\u003Ctd>8,08\u003C\u002Ftd>\u003Ctd>329,25\u003C\u002Ftd>\u003Ctd>13,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Calçados\u003C\u002Ftd>\u003Ctd>Satélite\u003C\u002Ftd>\u003Ctd>1.106,58\u003C\u002Ftd>\u003Ctd>420,28\u003C\u002Ftd>\u003Ctd>14,10\u003C\u002Ftd>\u003Ctd>434,39\u003C\u002Ftd>\u003Ctd>13,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Conveniência e Serviços\u003C\u002Ftd>\u003Ctd>Satélite\u003C\u002Ftd>\u003Ctd>996,87\u003C\u002Ftd>\u003Ctd>455,00\u003C\u002Ftd>\u003Ctd>0,00\u003C\u002Ftd>\u003Ctd>455,00\u003C\u002Ftd>\u003Ctd>12,50\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Perfumaria e Cosmético\u003C\u002Ftd>\u003Ctd>Satélite\u003C\u002Ftd>\u003Ctd>772,78\u003C\u002Ftd>\u003Ctd>263,91\u003C\u002Ftd>\u003Ctd>78,38\u003C\u002Ftd>\u003Ctd>342,29\u003C\u002Ftd>\u003Ctd>13,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Joias, Relógios e Bijuterias\u003C\u002Ftd>\u003Ctd>Satélite\u003C\u002Ftd>\u003Ctd>713,52\u003C\u002Ftd>\u003Ctd>584,15\u003C\u002Ftd>\u003Ctd>0,00\u003C\u002Ftd>\u003Ctd>584,15\u003C\u002Ftd>\u003Ctd>13,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Telefonia e Acessórios\u003C\u002Ftd>\u003Ctd>Satélite\u003C\u002Ftd>\u003Ctd>305,93\u003C\u002Ftd>\u003Ctd>710,26\u003C\u002Ftd>\u003Ctd>0,00\u003C\u002Ftd>\u003Ctd>710,26\u003C\u002Ftd>\u003Ctd>13,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Lazer\u003C\u002Ftd>\u003Ctd>Satélite\u003C\u002Ftd>\u003Ctd>298,62\u003C\u002Ftd>\u003Ctd>29,82\u003C\u002Ftd>\u003Ctd>54,74\u003C\u002Ftd>\u003Ctd>84,56\u003C\u002Ftd>\u003Ctd>12,50\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Ótica\u003C\u002Ftd>\u003Ctd>Satélite\u003C\u002Ftd>\u003Ctd>287,07\u003C\u002Ftd>\u003Ctd>705,83\u003C\u002Ftd>\u003Ctd>0,00\u003C\u002Ftd>\u003Ctd>705,83\u003C\u002Ftd>\u003Ctd>13,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Loja Vaga*\u003C\u002Ftd>\u003Ctd>Âncora\u003C\u002Ftd>\u003Ctd>1.955,30\u003C\u002Ftd>\u003Ctd>335,85\u003C\u002Ftd>\u003Ctd>34,25\u003C\u002Ftd>\u003Ctd>370,10\u003C\u002Ftd>\u003Ctd>13,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>ABL TOTAL\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>24.190,57\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>\u003Cstrong>\u003Cem>*Para a consideração das lojas vagas a serem absorvidas, utilizamos como aluguel a média ponderada conforme classificação, excluindo os segmentos “Restaurantes” e “Lazer”, devido à maior área demandada e menor aluguel médio em comparação com os demais segmentos de loja satélite.\u003C\u002Fem>\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0055-00.png\">\u003C\u002Fp>\u003Ch4>\u003Cstrong>8.3. CRESCIMENTOS PREVISTOS\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>Após análise histórica do desempenho do empreendimento, projetamos revisão no valor do aluguel mínimo no terceiro ano de projeção nos segmentos impactados pela expansão do piso Rio Grande do Sul. Para os aluguéis complementares, foram considerados \u003Cem>steps\u003C\u002Fem> compatíveis com o período de maturação das lojas instaladas na recente expansão.\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>\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>\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>Cinemark\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>Empório Verdemar\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>Renner\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>Fast Shop\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>Pobre Juan\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>Outback Steakhouse\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>\u003C\u002Ftd>\u003Ctd>15%\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>Restaurante\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>15%\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>Alimentação\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>Artigos do Lar\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>Artigos Diversos\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>Calçados\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>15%\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>Conveniência e Serviços\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>Perfumaria e Cosmético\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>15%\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>Joias, Relógios e Bijuterias\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>15%\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>Telefonia e Acessórios\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>Lazer\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>Ótica\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>Loja Vaga\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>15%\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 mínimo\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>\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>Cinemark\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>Empório Verdemar\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>Renner\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>Fast Shop\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>Pobre Juan\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>Outback Steakhouse\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>10%\u003C\u002Ftd>\u003Ctd>10%\u003C\u002Ftd>\u003Ctd>5%\u003C\u002Ftd>\u003Ctd>5%\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Restaurante\u003C\u002Ftd>\u003Ctd>10%\u003C\u002Ftd>\u003Ctd>10%\u003C\u002Ftd>\u003Ctd>5%\u003C\u002Ftd>\u003Ctd>5%\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\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>\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>Artigos do Lar\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>Artigos Diversos\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>Calçados\u003C\u002Ftd>\u003Ctd>10%\u003C\u002Ftd>\u003Ctd>10%\u003C\u002Ftd>\u003Ctd>5%\u003C\u002Ftd>\u003Ctd>5%\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\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>\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>Perfumaria e Cosmético\u003C\u002Ftd>\u003Ctd>10%\u003C\u002Ftd>\u003Ctd>10%\u003C\u002Ftd>\u003Ctd>5%\u003C\u002Ftd>\u003Ctd>5%\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\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>10%\u003C\u002Ftd>\u003Ctd>10%\u003C\u002Ftd>\u003Ctd>5%\u003C\u002Ftd>\u003Ctd>5%\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\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>\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>Lazer\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>Ótica\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>Loja Vaga\u003C\u002Ftd>\u003Ctd>10%\u003C\u002Ftd>\u003Ctd>10%\u003C\u002Ftd>\u003Ctd>5%\u003C\u002Ftd>\u003Ctd>5%\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\u002F3477\u002F3477.pdf-0056-00.png\">\u003C\u002Fp>\u003Ch4>\u003Cstrong>8.4. CESSÃO DE DIREITO DE USO (CDU) E TAXA DE TRANSFERÊNCIA\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>As receitas de Cessão de Direito de Uso (CDU) e Taxa de Transferência foram estimadas em R$ 1.000,00 por m² absorvido (absorção + turnover), conforme absorções recentes do empreendimento.\u003C\u002Fp>\u003Ch4>\u003Cstrong>8.5. MALL & MERCHANDISING\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>As receitas provenientes dos painéis, quiosques e totens de propaganda\u002Fpublicidade foram estimadas em 8% da receita de locação de lojas, conforme dados históricos do empreendimento.\u003C\u002Fp>\u003Ch4>\u003Cstrong>8.6. RECEITA DE ESTACIONAMENTO LÍQUIDA\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>A receita líquida de estacionamento é projetada conforme tabela a seguir.\u003C\u002Fp>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>\u003Cstrong>Item\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Premissa\u003C\u002Fstrong>\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>\u003Cbr>\u003Cstrong>Ano 10\u003C\u002Fstrong>\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\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>Receita Líquida de\u003Cbr>Estacionamento\u003C\u002Ftd>\u003Ctd>% Sobre as Receitas\u003Cbr>de Aluguel*\u003C\u002Ftd>\u003Ctd>15%\u003C\u002Ftd>\u003Ctd>15,5%\u003C\u002Ftd>\u003Ctd>16%\u003C\u002Ftd>\u003Ctd>16%\u003C\u002Ftd>\u003Ctd>16%\u003C\u002Ftd>\u003Ctd>16%\u003C\u002Ftd>\u003Ctd>16%\u003C\u002Ftd>\u003Ctd>16%\u003C\u002Ftd>\u003Ctd>16%\u003C\u002Ftd>\u003Ctd>16%\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>\u003Cstrong>\u003Cem>*Lojas + Mall & Merchandising\u003C\u002Fem>\u003C\u002Fstrong>\u003C\u002Fp>\u003Ch4>\u003Cstrong>8.7. 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>\u003Cstrong>VAC\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>ÂNCIA\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>1.955\u003C\u002Ftd>\u003Ctd>1.428\u003C\u002Ftd>\u003Ctd>1.071\u003C\u002Ftd>\u003Ctd>714\u003C\u002Ftd>\u003Ctd>357\u003C\u002Ftd>\u003Ctd>357\u003C\u002Ftd>\u003Ctd>357\u003C\u002Ftd>\u003Ctd>357\u003C\u002Ftd>\u003Ctd>357\u003C\u002Ftd>\u003Ctd>357\u003C\u002Ftd>\u003Ctd>357\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Vacância Satélite\u003C\u002Ftd>\u003Ctd>11,0%\u003C\u002Ftd>\u003Ctd>8,0%\u003C\u002Ftd>\u003Ctd>6,0%\u003C\u002Ftd>\u003Ctd>4,0%\u003C\u002Ftd>\u003Ctd>2,0%\u003C\u002Ftd>\u003Ctd>2,0%\u003C\u002Ftd>\u003Ctd>2,0%\u003C\u002Ftd>\u003Ctd>2,0%\u003C\u002Ftd>\u003Ctd>2,0%\u003C\u002Ftd>\u003Ctd>2,0%\u003C\u002Ftd>\u003Ctd>2,0%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>ABL Vaga Total\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>1.955\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>1.428\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>1.071\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>714\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>357\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>357\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>357\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>357\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>357\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>357\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>357\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Vacância Total\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>8,1%\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>5,9%\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>4,4%\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>3,0%\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>1,5%\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>1,5%\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>1,5%\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>1,5%\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>1,5%\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>1,5%\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>1,5%\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Ch4>\u003Cstrong>8.8. 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>1,25%\u003C\u002Ftd>\u003Ctd>1,25%\u003C\u002Ftd>\u003Ctd>1,25%\u003C\u002Ftd>\u003Ctd>1,25%\u003C\u002Ftd>\u003Ctd>1,25%\u003C\u002Ftd>\u003Ctd>1,25%\u003C\u002Ftd>\u003Ctd>1,25%\u003C\u002Ftd>\u003Ctd>1,25%\u003C\u002Ftd>\u003Ctd>1,25%\u003C\u002Ftd>\u003Ctd>1,25%\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0057-00.png\">\u003C\u002Fp>\u003Ch4>\u003Cstrong>8.9. 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>6,60%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Encargos Lojas Vagas\u003C\u002Ftd>\u003Ctd>Fixo sobre ABL Vaga\u003C\u002Ftd>\u003Ctd>120,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Comissões\u003C\u002Ftd>\u003Ctd>% Sobre a Receita Bruta\u003C\u002Ftd>\u003Ctd>1,40%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Comercial\u003C\u002Ftd>\u003Ctd>R$\u002Fm² absorvido (absorção + turnover)\u003C\u002Ftd>\u003Ctd>650,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Administrativas e Outros\u003C\u002Ftd>\u003Ctd>% Sobre a Receita Bruta\u003C\u002Ftd>\u003Ctd>1,65%\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Ch4>\u003Cstrong>8.10. INVESTIMENTOS \u002F FRA\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>Consideramos em nossas análises um FRA (Fator de Reposição de Ativos) de 2% ao ano, a partir do segundo ano de projeção. 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 seja, um custo teórico da permanência de atualidade do empreendimento face à conjuntura futura.\u003C\u002Fp>\u003Ch4>\u003Cstrong>8.11. TURNOVER\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>Consideramos em nossas análises um turnover estabilizado de 3,00% ao ano, a partir do segundo ano de projeção.\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>Turnover\u003C\u002Ftd>\u003Ctd>% ABL Satélites\u003C\u002Ftd>\u003Ctd>6,00%\u003C\u002Ftd>\u003Ctd>3,00%\u003C\u002Ftd>\u003Ctd>3,00%\u003C\u002Ftd>\u003Ctd>3,00%\u003C\u002Ftd>\u003Ctd>3,00%\u003C\u002Ftd>\u003Ctd>3,00%\u003C\u002Ftd>\u003Ctd>3,00%\u003C\u002Ftd>\u003Ctd>3,00%\u003C\u002Ftd>\u003Ctd>3,00%\u003C\u002Ftd>\u003Ctd>3,00%\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Ch4>\u003Cstrong>8.12. CAPEX\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>Foi considerado o CAPEX orçado no valor de R$ 800.000,00, a ser executado até dezembro de 2025, conforme previsto no orçamento do empreendimento.\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0058-00.png\">\u003C\u002Fp>\u003Ch4>\u003Cstrong>8.13. ARRENDAMENTO\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>O imóvel está arrendado para o consórcio MTS\u002FIBR até 06 de novembro de 2030, por um valor correspondente a:\u003C\u002Fp>\u003Col>\u003Cli>\u003Cp>O Maior entre:\u003C\u002Fp>\u003C\u002Fli>\u003Cli>\u003Cp>Aluguel Mínimo: R$ 115.203,52 (valor de 20 de janeiro 2020 – correspondente à parcela de 49,9% pertencente ao Clube Atlético Mineiro. Ajustado para 24,95%, o valor correspondente é de R$ 57.601,76);\u003C\u002Fp>\u003C\u002Fli>\u003Cli>\u003Cp>Aluguel Percentual: 15% dos aluguéis de lojas “stands” ou áreas do centro de compras;\u003C\u002Fp>\u003C\u002Fli>\u003Cli>\u003Cp>10% da receita bruta decorrente da exploração do Shopping a título de “cessão de direitos de uso”;\u003C\u002Fp>\u003C\u002Fli>\u003Cli>\u003Cp>15% dos aluguéis recebidos em decorrência da sublocação do estacionamento.\u003C\u002Fp>\u003C\u002Fli>\u003C\u002Fol>\u003Ch4>\u003Cstrong>8.14. CÁLCULO DO VALOR DO IMÓVEL\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>Em shopping centers maturados e consolidados são normais 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>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0059-00.png\">\u003C\u002Fp>\u003Ch4>\u003Cstrong>8.15. FLUXO DE CAIXA DA PROJEÇÃO DAS RECEITAS, DESPESAS E INVESTIMENTOS – DIAMONDMALL\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 7,00% e 10,00% ao ano, consideramos para o valor do empreendimento taxa de desconto de \u003Cstrong>8,50%\u003C\u002Fstrong>. A perpetuidade foi calculada a uma taxa de capitalização de \u003Cstrong>8,25%\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>7,00%\u003C\u002Ftd>\u003Ctd>1.301.372\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>53.797\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>7,50%\u003C\u002Ftd>\u003Ctd>1.255.785\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>51.912\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>8,00%\u003C\u002Ftd>\u003Ctd>1.212.248\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>50.112\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>8,50%\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>1.170.653,79\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>48.393\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>9,00%\u003C\u002Ftd>\u003Ctd>1.130.905\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>46.750\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>9,50%\u003C\u002Ftd>\u003Ctd>1.092.908\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>45.179\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>10,00%\u003C\u002Ftd>\u003Ctd>1.056.574\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>43.677\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$ 1.170.653.788,19.\u003C\u002Fp>\u003Cp>Em números redondos é de:\u003C\u002Fp>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>\u003Cstrong>VALOR VENDA\u003C\u002Fstrong>\u003Cbr>\u003Cstrong>TOTAL\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>100%\u003C\u002Fth>\u003Cth>(Renda - Fluxo\u003Cbr>de Caixa)\u003Cbr>\u003Cstrong>R$ 1.170.650.000\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Um Bilhão,\u003C\u002Fstrong>\u003Cbr>\u003Cstrong>Seiscentos E C\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Cento E Setenta Milhões,\u003C\u002Fstrong>\u003Cbr>\u003Cstrong>inquenta Mil Reais\u003C\u002Fstrong>\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\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\u002F3477\u002F3477.pdf-0060-00.png\">\u003C\u002Fp>\u003Cp>ED\u003Cbr>MDS INSWANÇER\u003Cbr>\u003C\u002Fp>\u003Ch4>\u003Cstrong>8.16. FLUXO DE CAIXA DA PROJEÇÃO DAS RECEITAS, DESPESAS E INVESTIMENTOS –FII PEDRA NEGRA\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>Para elaborar o fluxo de caixa da participação do FII Pedra Negra, consideramos a parcela de participação de 24,95% no valor de arrendamento pago pelo consórcio MTS\u002FIBR até 06 de novembro de 2030 e, após o término do contrato, 24,95% da operação integral do empreendimento.\u003C\u002Fp>\u003Cp>Após todas nossas análises e considerações de premissas, calculamos o Valor Presente Líquido (VPL) com base nas taxas de desconto entre 7,00% e 10,00% ao ano, consideramos para o valor do empreendimento taxa de desconto de \u003Cstrong>8,50%\u003C\u002Fstrong>.\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>7,00%\u003C\u002Ftd>\u003Ctd>256.647\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>42.523\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>7,50%\u003C\u002Ftd>\u003Ctd>246.227\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>40.796\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>8,00%\u003C\u002Ftd>\u003Ctd>236.297\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>39.151\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>8,50%\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>R$ 226.832,04\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>R$ 37.582,68\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>9,00%\u003C\u002Ftd>\u003Ctd>217.808\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>36.087\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>9,50%\u003C\u002Ftd>\u003Ctd>209.201\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>34.662\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>10,00%\u003C\u002Ftd>\u003Ctd>200.991\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>33.301\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>De acordo com os cenários e as planilhas apresentadas nos Anexos, concluímos que o valor da participação no empreendimento é de R$ 226.832.040,61\u003C\u002Fp>\u003Cp>Em números redondos é de:\u003C\u002Fp>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>\u003Cstrong>PARTICIPAÇÃO FII\u003C\u002Fstrong>\u003Cbr>\u003Cstrong>PEDRA NEGRA\u003C\u002Fstrong>\u003Cbr>24,95%\u003C\u002Fth>\u003Cth>(Renda - Fluxo\u003Cbr>de Caixa)\u003C\u002Fth>\u003Cth>\u003Cstrong>R$ 226.832.000\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Duzentos E Vinte E Seis Milhões, Oitocentos E\u003C\u002Fstrong>\u003Cbr>\u003Cstrong>Trinta E Dois Mil 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>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0061-00.png\">\u003C\u002Fp>\u003Cp>ED\u003Cbr>MDS INSWANÇER\u003Cbr>\u003C\u002Fp>\u003Ch3>\u003Cstrong>9. 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>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>\u003Cstrong>VALOR VENDA\u003C\u002Fstrong>\u003Cbr>\u003Cstrong>TOTAL\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>100%\u003C\u002Fth>\u003Cth>(Renda - Fluxo\u003Cbr>de Caixa)\u003C\u002Fth>\u003Cth>\u003Cstrong>R$ 1.170.650.000\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>Um Bilhão, Cento\u003C\u002Fstrong>\u003Cbr>\u003Cstrong>Seiscentos E Cinquenta\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>E Setenta Milhões,\u003C\u002Fstrong>\u003Cbr>\u003Cstrong>Mil Reais\u003C\u002Fstrong>\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>\u003Cstrong>PARTICIPAÇÃO FII\u003C\u002Fstrong>\u003Cbr>\u003Cstrong>PEDRA NEGRA\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>24,95%\u003C\u002Ftd>\u003Ctd>(Renda - Fluxo\u003Cbr>de Caixa)\u003C\u002Ftd>\u003Ctd>\u003Cstrong>R$ 226.832.000\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>Duzentos E Vinte E Seis\u003C\u002Fstrong>\u003Cbr>\u003Cstrong>Trinta E Dois Mil Reais\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>Milhões, Oitocentos E\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>Binswanger Brazil CREA: 494866\u003C\u002Fp>\u003Cp>ISABELA DORA COSTA Assinado de forma digital por ISABELA DORA COSTA MONASTERSKY:14400 MONASTERSKY:14400445895 445895 Dados: 2026.01.20 14:01:10 -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\u002F3477\u002F3477.pdf-0061-06.png\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0062-00.png\">\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>\u003Ch4>\u003Cstrong>Operação Shopping DiamondMall (100%)\u003C\u002Fstrong>\u003C\u002Fh4>\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>7,00%\u003C\u002Ftd>\u003Ctd>1.301.372\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>53.797\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>7,50%\u003C\u002Ftd>\u003Ctd>1.255.785\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>51.912\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>8,00%\u003C\u002Ftd>\u003Ctd>1.212.248\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>50.112\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>8,50%\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>1.170.653,79\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>48.393\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>9,00%\u003C\u002Ftd>\u003Ctd>1.130.905\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>46.750\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>9,50%\u003C\u002Ftd>\u003Ctd>1.092.908\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>45.179\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>10,00%\u003C\u002Ftd>\u003Ctd>1.056.574\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>43.677\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Ch4>\u003Cstrong>Participação FII Pedra Negra (24,95%)\u003C\u002Fstrong>\u003C\u002Fh4>\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>7,00%\u003C\u002Ftd>\u003Ctd>256.647\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>42.523\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>7,50%\u003C\u002Ftd>\u003Ctd>246.227\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>40.796\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>8,00%\u003C\u002Ftd>\u003Ctd>236.297\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>39.151\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>8,50%\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>R$ 226.832,04\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>R$ 37.582,68\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>9,00%\u003C\u002Ftd>\u003Ctd>217.808\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>36.087\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>9,50%\u003C\u002Ftd>\u003Ctd>209.201\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>34.662\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>10,00%\u003C\u002Ftd>\u003Ctd>200.991\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>33.301\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0063-00.png\">\u003C\u002Fp>\u003Cp>\u003Cstrong>DiamondMall - 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>out-26\u003C\u002Ftd>\u003Ctd>out-27\u003C\u002Ftd>\u003Ctd>out-28\u003C\u002Ftd>\u003Ctd>out-29\u003C\u002Ftd>\u003Ctd>out-30\u003C\u002Ftd>\u003Ctd>out-31\u003C\u002Ftd>\u003Ctd>out-32\u003C\u002Ftd>\u003Ctd>out-33\u003C\u002Ftd>\u003Ctd>out-34\u003C\u002Ftd>\u003Ctd>out-35\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Receita Operacional Bruta\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>106.819\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>109.635\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>120.410\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>123.445\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>123.088\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>123.088\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>123.088\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>123.088\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>123.088\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>123.088\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Receita Total Aluguel\u003C\u002Ftd>\u003Ctd>84.719\u003C\u002Ftd>\u003Ctd>87.176\u003C\u002Ftd>\u003Ctd>95.400\u003C\u002Ftd>\u003Ctd>97.823\u003C\u002Ftd>\u003Ctd>97.823\u003C\u002Ftd>\u003Ctd>97.823\u003C\u002Ftd>\u003Ctd>97.823\u003C\u002Ftd>\u003Ctd>97.823\u003C\u002Ftd>\u003Ctd>97.823\u003C\u002Ftd>\u003Ctd>97.823\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Aluguel Mínimo\u003C\u002Ftd>\u003Ctd>75.236\u003C\u002Ftd>\u003Ctd>76.795\u003C\u002Ftd>\u003Ctd>84.427\u003C\u002Ftd>\u003Ctd>86.219\u003C\u002Ftd>\u003Ctd>86.219\u003C\u002Ftd>\u003Ctd>86.219\u003C\u002Ftd>\u003Ctd>86.219\u003C\u002Ftd>\u003Ctd>86.219\u003C\u002Ftd>\u003Ctd>86.219\u003C\u002Ftd>\u003Ctd>86.219\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Aluguel Complementar\u003C\u002Ftd>\u003Ctd>9.482\u003C\u002Ftd>\u003Ctd>10.381\u003C\u002Ftd>\u003Ctd>10.973\u003C\u002Ftd>\u003Ctd>11.604\u003C\u002Ftd>\u003Ctd>11.604\u003C\u002Ftd>\u003Ctd>11.604\u003C\u002Ftd>\u003Ctd>11.604\u003C\u002Ftd>\u003Ctd>11.604\u003C\u002Ftd>\u003Ctd>11.604\u003C\u002Ftd>\u003Ctd>11.604\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Mall & Merchandising\u003C\u002Ftd>\u003Ctd>6.777\u003C\u002Ftd>\u003Ctd>6.974\u003C\u002Ftd>\u003Ctd>7.632\u003C\u002Ftd>\u003Ctd>7.826\u003C\u002Ftd>\u003Ctd>7.826\u003C\u002Ftd>\u003Ctd>7.826\u003C\u002Ftd>\u003Ctd>7.826\u003C\u002Ftd>\u003Ctd>7.826\u003C\u002Ftd>\u003Ctd>7.826\u003C\u002Ftd>\u003Ctd>7.826\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>CDU - Cessão de Direito de Uso\u003C\u002Ftd>\u003Ctd>1.598\u003C\u002Ftd>\u003Ctd>892\u003C\u002Ftd>\u003Ctd>892\u003C\u002Ftd>\u003Ctd>892\u003C\u002Ftd>\u003Ctd>535\u003C\u002Ftd>\u003Ctd>535\u003C\u002Ftd>\u003Ctd>535\u003C\u002Ftd>\u003Ctd>535\u003C\u002Ftd>\u003Ctd>535\u003C\u002Ftd>\u003Ctd>535\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Receita De Estacionamento Líquida\u003C\u002Ftd>\u003Ctd>13.724\u003C\u002Ftd>\u003Ctd>14.593\u003C\u002Ftd>\u003Ctd>16.485\u003C\u002Ftd>\u003Ctd>16.904\u003C\u002Ftd>\u003Ctd>16.904\u003C\u002Ftd>\u003Ctd>16.904\u003C\u002Ftd>\u003Ctd>16.904\u003C\u002Ftd>\u003Ctd>16.904\u003C\u002Ftd>\u003Ctd>16.904\u003C\u002Ftd>\u003Ctd>16.904\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Despesas Totais\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>-30.681\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>-30.473\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>-32.749\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>-33.022\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>-32.715\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>-17.021\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>-14.279\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>-14.279\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>-14.279\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>-14.279\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Taxa de Administração\u003C\u002Ftd>\u003Ctd>-7.050\u003C\u002Ftd>\u003Ctd>-7.236\u003C\u002Ftd>\u003Ctd>-7.947\u003C\u002Ftd>\u003Ctd>-8.147\u003C\u002Ftd>\u003Ctd>-8.124\u003C\u002Ftd>\u003Ctd>-8.124\u003C\u002Ftd>\u003Ctd>-8.124\u003C\u002Ftd>\u003Ctd>-8.124\u003C\u002Ftd>\u003Ctd>-8.124\u003C\u002Ftd>\u003Ctd>-8.124\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Arrendamento\u003C\u002Ftd>\u003Ctd>-15.943\u003C\u002Ftd>\u003Ctd>-16.401\u003C\u002Ftd>\u003Ctd>-18.017\u003C\u002Ftd>\u003Ctd>-18.472\u003C\u002Ftd>\u003Ctd>-18.436\u003C\u002Ftd>\u003Ctd>-2.743\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Encargos Lojas Vagas\u003C\u002Ftd>\u003Ctd>-2.056\u003C\u002Ftd>\u003Ctd>-1.542\u003C\u002Ftd>\u003Ctd>-1.028\u003C\u002Ftd>\u003Ctd>-514\u003C\u002Ftd>\u003Ctd>-514\u003C\u002Ftd>\u003Ctd>-514\u003C\u002Ftd>\u003Ctd>-514\u003C\u002Ftd>\u003Ctd>-514\u003C\u002Ftd>\u003Ctd>-514\u003C\u002Ftd>\u003Ctd>-514\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Comissões\u003C\u002Ftd>\u003Ctd>-1.495\u003C\u002Ftd>\u003Ctd>-1.535\u003C\u002Ftd>\u003Ctd>-1.686\u003C\u002Ftd>\u003Ctd>-1.728\u003C\u002Ftd>\u003Ctd>-1.723\u003C\u002Ftd>\u003Ctd>-1.723\u003C\u002Ftd>\u003Ctd>-1.723\u003C\u002Ftd>\u003Ctd>-1.723\u003C\u002Ftd>\u003Ctd>-1.723\u003C\u002Ftd>\u003Ctd>-1.723\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Comercial\u003C\u002Ftd>\u003Ctd>-1.039\u003C\u002Ftd>\u003Ctd>-580\u003C\u002Ftd>\u003Ctd>-580\u003C\u002Ftd>\u003Ctd>-580\u003C\u002Ftd>\u003Ctd>-348\u003C\u002Ftd>\u003Ctd>-348\u003C\u002Ftd>\u003Ctd>-348\u003C\u002Ftd>\u003Ctd>-348\u003C\u002Ftd>\u003Ctd>-348\u003C\u002Ftd>\u003Ctd>-348\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Administrativas e Outros\u003C\u002Ftd>\u003Ctd>-1.763\u003C\u002Ftd>\u003Ctd>-1.809\u003C\u002Ftd>\u003Ctd>-1.987\u003C\u002Ftd>\u003Ctd>-2.037\u003C\u002Ftd>\u003Ctd>-2.031\u003C\u002Ftd>\u003Ctd>-2.031\u003C\u002Ftd>\u003Ctd>-2.031\u003C\u002Ftd>\u003Ctd>-2.031\u003C\u002Ftd>\u003Ctd>-2.031\u003C\u002Ftd>\u003Ctd>-2.031\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Inadimplência Irrecuperável\u003C\u002Ftd>\u003Ctd>-1.335\u003C\u002Ftd>\u003Ctd>-1.370\u003C\u002Ftd>\u003Ctd>-1.505\u003C\u002Ftd>\u003Ctd>-1.543\u003C\u002Ftd>\u003Ctd>-1.539\u003C\u002Ftd>\u003Ctd>-1.539\u003C\u002Ftd>\u003Ctd>-1.539\u003C\u002Ftd>\u003Ctd>-1.539\u003C\u002Ftd>\u003Ctd>-1.539\u003C\u002Ftd>\u003Ctd>-1.539\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Resultado Operacional Líquido\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>76.138\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>79.163\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>87.660\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>90.423\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>90.373\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>106.067\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>108.810\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>108.810\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>108.810\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>108.810\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Investimentos Totais\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>-800\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>-2.193\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>-2.408\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>-2.469\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>-2.462\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>-2.462\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>-2.462\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>-2.462\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>-2.462\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>-2.462\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Reposição do Ativo\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003Ctd>-2.193\u003C\u002Ftd>\u003Ctd>-2.408\u003C\u002Ftd>\u003Ctd>-2.469\u003C\u002Ftd>\u003Ctd>-2.462\u003C\u002Ftd>\u003Ctd>-2.462\u003C\u002Ftd>\u003Ctd>-2.462\u003C\u002Ftd>\u003Ctd>-2.462\u003C\u002Ftd>\u003Ctd>-2.462\u003C\u002Ftd>\u003Ctd>-2.462\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>CAPEX\u003C\u002Ftd>\u003Ctd>-800\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>\u003Cstrong>Resultado Líquido\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>75.338\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>76.970\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>85.252\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>87.955\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>87.911\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>103.605\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>106.348\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>106.348\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>106.348\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>106.348\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\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>\u003Ctd>\u003Cstrong>1.289.065\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Fluxo De Caixa\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>75.338\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>76.970\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>85.252\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>87.955\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>87.911\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>103.605\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>106.348\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>106.348\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>106.348\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>1.395.413\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cbr>\u003Cstrong>Taxa de Desconto\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cbr>\u003Cstrong>8,50\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cbr>\u003Cstrong>%\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>8,25\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>%\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$ 1.17\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>0.650\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>\u003Ch6>\u003Cstrong>Participação FII Pedra Negra (24,95%)\u003C\u002Fstrong>\u003C\u002Fh6>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>\u003Cstrong>Arrendamento – 24,95%\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>3.978\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>4.092\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>4.495\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>4.609\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>4.600\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>684\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>-\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>-\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>-\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>-\u003C\u002Fstrong>\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>\u003Cstrong>Participação – 24,95%\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>22.587\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>26.534\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>26.534\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>26.534\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>348.156\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Fluxo De Caixa\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>3.978\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>4.092\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>4.495\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>4.609\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>4.600\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>23.271\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>26.534\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>26.534\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>26.534\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>348.156\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Taxa de Desconto\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>8,50%\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>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003Cstrong>Valor Total\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>R$ 226.83\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>\u003Cstrong>2\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\u002F3477\u002F3477.pdf-0064-00.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>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0064-03.png\">\u003C\u002Fp>\u003Cp>ABNT NBR 14653 -4 (Empreendimentos)\u003Cbr>GRAU DE FUNDAMENTAÇÃO - Fluxo de Caixa Descontado (FCD)\u003Cbr>Tabela 4 - Identificação de valor e indicadores de viabilidade\u003Cbr>Item Atividade Para identificação de valor\u003Cbr>Grau III Grau II Grau I\u003Cbr>Sintética, com a\u003Cbr>Ampla, com os elementos\u003Cbr>Análise operacional do Simplificada, com base nos apresentação dos\u003Cbr>1 operacionais devidamente 3 \u003Cbr>empreendimento indicadores operacionais indicadores básicos\u003Cbr>explicitados\u003Cbr>operacionais\u003Cbr>Com base em análise do\u003Cbr>Com base em análise Com base em análise\u003Cbr>Análise das séries históricas processo estocástico para as\u003Cbr>2 determinística para um prazo 2  quantitativa para um prazo\u003Cbr>do empreendimento variáveis-chave, em um\u003Cbr>mínimo de 24 meses mínimo de 12 meses\u003Cbr>período mínimo de 36 meses\u003Cbr>Análise setorial e diagnóstico De estrutura, conjuntura,\u003Cbr>3 Da conjuntura Sintética da conjuntura 1 \u003Cbr>de mercado tendências e conduta\u003Cbr>4 Taxas de desconto Fundamentada Justificada Arbitrada 1 \u003Cbr>Determinístico associado aos\u003Cbr>5 Escolha do Modelo Probabilístico Determinístico 1 \u003Cbr>cenários\u003Cbr>Estrutura básica do fluxo de\u003Cbr>6 Completa 3  Simplificada Rendas Líquidas\u003Cbr>caixa\u003Cbr>7 Cenários fundamentados Mínimo de 5 Mínimo de 3 Mínimo de 1 1 \u003Cbr>Simulações com Simulação com identificação Simulação única com\u003Cbr>8 Análise de sensibilidade 1 \u003Cbr>apresentação do de elasticidade por variável variação em torno de 10%\u003Cbr>9 Análise de risco Risco fundamentado Risco justificado Risco arbitrado 1 \u003Cbr>Pontuação 14\u003Cbr>GRAU DE FUNDAMENTAÇÃO (Para identificação de valor): Grau I\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F3477\u002F3477.pdf-0065-00.png\">\u003C\u002Fp>\u003Cp>ED\u003Cbr>MDS INSWANÇER\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. Os documentos utilizados nesta avaliação encontram-se em nossa base de dados para o caso de necessidade de consulta.\u003C\u002Fp>","https:\u002F\u002Fwww.kartac.com.br\u002Fapi\u002Ffiis\u002FFPNG11\u002Fdocumentos\u002F3477\u002Fpdf",false,"2026-03-04 19:12:00",{"id":95,"empresa":96,"gestor":100,"cotacoes":106,"patrimonio":115,"vpa":116,"p_vpa":117,"tipo_gestao":118,"mandato":119,"segmento":120,"categoria":121,"grupo":56,"preco_atual":114,"cotacao_atualizada_em":122,"ultima_variacao_cotacao_24h":119,"variacao_cotacao_7d":119,"variacao_cotacao_1m":123,"variacao_cotacao_3m":124,"variacao_cotacao_6m":125,"variacao_cotacao_12m":126,"vacancia_fisica":127,"liquidez_atual":69,"ultimo_dividendo":119,"ultimo_dividend_yield":119,"mes_pagamento_ultimo_dividendo":119,"dividend_yield_3m":119,"dividend_yield_6m":119,"dividend_yield_12m":119,"dividend_yield_medio_12m":119,"qtd_dividendos_pagos_ano_passado":119,"data_ultima_cotacao":113,"pregoes_com_negocio_21":72,"alertas":128,"updated_at":134,"liquidez_media_reais":135,"administrador":47,"taxa_administracao_paga":136,"balanco":137,"resultado_distribuido":144,"publico_alvo":149,"mercados_negociacao_cotas":150,"data_funcionamento":152,"data_final":119,"quantidade_cotas":153,"quantidade_cotistas":154,"detalhes_cotistas":155,"total_investido":156,"investimentos_fundo":157,"imoveis":160,"contratos":445,"custodiante":504,"auditor_independente":511,"formador_mercado":119,"distribuidor_cotas":119,"consultor_especializado":517,"administrador_locacoes":119,"relatorio_anual":521,"analise_administrador":524},712,{"nome":54,"nome_simplificado":97,"nome_comercial":51,"ticker":53,"nome_ticker":98,"nome_pregao":99,"cnpj":61}," PEDRA NEGRA RENDA IMOBILIÁRIA  RESPONSABILIDADE LIMITADA","FPNG11 - FUNDO DE INVESTIMENTO IMOBILIÁRIO PEDRA NEGRA RENDA IMOBILIÁRIA - RESPONSABILIDADE LIMITADA","FII P NEGRA",{"id":101,"nome":41,"cnpj":102,"endereco":103,"telefone":104,"created_at":105,"updated_at":105},59,"44077014000189","RUA SURUBIM, 577 - 10º ANDAR","11-5508.3500","2026-10-03T18:54:18.000000Z",[107,111],{"id":108,"data":109,"abertura":110,"ultimo":110,"volume":76},3290265,"2026-10-08",348,{"id":112,"data":113,"abertura":114,"ultimo":114,"volume":76},3375995,"2026-10-15",344.99,664587924.75,218.37,"1.58","Ativa",null,"Multicategoria","Tijolo","2026-10-17 17:16","-0.0086","-0.1586","-0.2582","-0.1469","0.04519",[129],{"tipo":130,"campo":131,"titulo":132,"texto":133},"pouco_negociado","liquidez_atual","Pouco negociado","O fundo teve negócios em só 2 dos últimos 21 pregões. Com tão poucos negócios, o preço pode mudar muito de um negócio para o outro, e o DY e o P\u002FVP mudam junto.","05\u002F11\u002F2026 08:15",1039.49,0.0009,{"data_referencia":138,"ativo":139,"passivo":140,"obrigacoes_imoveis":141,"obrigacoes_securitizacao":141,"liquidez":142,"valores_receber":143},"2026-09-01",781012939.32,116425014.57,0,37547790.34,17377648.98,{"data_referencia":145,"resultado":146,"rendimentos":147,"percentual":148},"2026-06-30",15355690.52,14588000.004,0.950006122160373,"Investidores em Geral",[151],"Bolsa","2012-10-25",3043447,137,{"Pessoa Física":154},726087500,{"Imóveis para renda":158,"Cotas de FIIs":159},721279000,4808500,{"vacancia_total":161,"lista_imoveis":162,"data_referencia":145,"vacancia_suspeita":92},0.04519239057158333,[163,172,181,187,209,217,223,229,235,241,247,253,257,263,268,276,281,286,293,299,303,307,315,320,325,330,336,341,349,354,359,364,368,373,379,383,389,396,401,406,410,416,420,424,428,432,437,441],{"nome":164,"vacancia":141,"numero_unidades":165,"area":166,"endereco":167,"percentual_inadimplencia":141,"percentual_receitas":168,"inquilinos":169,"ocupacao":69},"Ed. 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NAÇÕES UNODAS, 14401 - CHACARA SANTO ANTONIO","(11) 5183-5422",{"id":518,"nome":519,"cnpj":520,"endereco":103,"telefone":104,"created_at":105,"updated_at":105},60,"UNITAS CONSULTORIA E EMPREENDIMENTOS LTDA.","61458998000167",{"ano_referencia":522,"data_disponibilizacao":523},"2025","2026-03-30",{"ResultadoFundo":525,"ConjunturaEconomica":526,"PerspectivaPeriodoSeguinte":527},"O Fundo apurou um resultado liquido positivo de R$ 140.352.000,00 no período, resultante dos aluguéis recebidos no período e de receitas financeiras obtidas sobre os recursos disponíveis e pelo ajuste ao valor justo das propriedades para investimentos.\n O Fundo fez distribuição aos cotistas no corrente exercício, no valor total de R$ 20.913.000,00.\n","Desempenho do Setor de Shopping Centers\nDe acordo com dados da Associação Brasileira de Shopping Centers (Abrasce), o ano de 2025 apresentou resultados positivos para o setor. Informações divulgadas pela Revista Shopping Centers, com base no Censo Brasileiro de Shopping Centers 2025–2026, indicam que o setor alcançou, pelo terceiro ano consecutivo, recorde de vendas, com faturamento de R$ 200,9 bilhões, representando crescimento de 1,2% em relação a 2024.\n\nAdicionalmente, conforme o relatório de atividades da Abrasce, o setor registrou crescimento de 2,1% nas vendas no terceiro trimestre de 2025. Os indicadores operacionais permaneceram robustos, com taxa de ocupação de 95,6% — uma das mais elevadas dos últimos anos — e inadimplência controlada em 3,7%, reforçando a resiliência e a solidez do segmento.\n\nO censo também aponta evolução no comportamento do consumidor, com tempo médio de permanência de 80 minutos, o maior já registrado. Observa-se, ainda, a consolidação do modelo de uso misto, sendo que aproximadamente um terço dos empreendimentos já opera como complexos multiuso, integrando torres comerciais e residenciais, além de serviços como centros médicos, hotéis e instituições de ensino.\n\nNo que se refere à expansão do setor, foram inaugurados 10 novos empreendimentos greenfield em 2025. A região Sudeste permanece como principal concentração de ativos (332 unidades), seguida pelas regiões Sul (112) e Nordeste (110).\n\nMercado de Escritórios\nNo segmento de conjuntos comerciais, dados da CBRE, divulgados pelo portal Bloomberg Línea, indicam a consolidação do retorno ao trabalho presencial. Observa-se a materialização de uma demanda reprimida, especialmente por empresas que expandiram suas operações no período pós-pandemia, mas postergaram decisões de locação em função da adoção do regime de trabalho remoto.\n\nOs ativos pertencentes ao fundo encerraram o ano com alta taxa de ocupação: 95% para as lojas; 99% para os escritórios, e 94% para o Shopping.","Segmento de Shopping Centers:\nDe acordo com especialistas da Abrasce, o patamar atual de desemprego, considerado baixo, tende a estimular o consumo. Adicionalmente, a realização da Copa do Mundo em 2026 pode impulsionar segmentos específicos do varejo.\nPor outro lado, as eleições presidenciais, previstas para outubro, podem pressionar o câmbio e os preços, o que gera incerteza e acaba prejudicando o consumo. Nesse contexto, a Abrasce projeta crescimento de 1,4% nas vendas do setor em 2026.\n\nSegmento de escritórios:\nA consolidação do trabalho presencial deve continuar refletindo na elevação da ocupação dos conjuntos comerciais.\n\nExpectativa para o portfólio do fundo:\nPara o portfólio do fundo, espera-se a manutenção das receitas de locação, com possibilidade de crescimento moderado ao longo do ano, considerando as possibiliades de ocupação das áreas atualmente vagas."]