[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"documento:PNRC11:18066":3,"seo:\u002Fdetalhes\u002FPNRC11\u002Fdocumentos\u002F18066":16,"fii-documento:PNRC11":97},{"id":4,"descricao":5,"assunto":6,"tipo":7,"situacao":8,"texto":9,"link_pdf":10,"estruturado":11,"link_original":12,"data_referencia":13,"data_entrega":14,"versao":15},18066,"(PNRC) Informe Mensal Estruturado - 12\u002F2025","Informe Mensal Estruturado","Informes Periódicos","(Ativo)","\u003Ch3>Dados Gerais\u003C\u002Fh3>\u003Ctable>\u003Ctbody>\u003Ctr>\u003Cth>Nome Fundo\u003C\u002Fth>\u003Ctd>PANORAMA REAL ESTATE CREDITO FII\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Cth>CNPJ Fundo\u003C\u002Fth>\u003Ctd>46157348000198\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Cth>Data Funcionamento\u003C\u002Fth>\u003Ctd>11\u002F10\u002F2022\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Cth>Publico Alvo\u003C\u002Fth>\u003Ctd>Investidor Profissional\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Cth>Codigo ISIN\u003C\u002Fth>\u003Ctd>BRPNRCCTF009\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Cth>Qtd Cotas Emitidas\u003C\u002Fth>\u003Ctd>410.100\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Cth>Fundo Exclusivo\u003C\u002Fth>\u003Ctd>Não\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Cth>Vinculo Familiar Cotistas\u003C\u002Fth>\u003Ctd>Não\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Cth>Prazo Duracao\u003C\u002Fth>\u003Ctd>Indeterminado\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Cth>Encerramento Exercicio\u003C\u002Fth>\u003Ctd>31\u002F12\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Cth>Nome Administrador\u003C\u002Fth>\u003Ctd>BRL TRUST DTVM S.A.\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Cth>CNPJ Administrador\u003C\u002Fth>\u003Ctd>13486793000142\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Cth>Logradouro\u003C\u002Fth>\u003Ctd>Rua Alves Guimarães\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Cth>Numero\u003C\u002Fth>\u003Ctd>1216\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Cth>Bairro\u003C\u002Fth>\u003Ctd>Pinheiros\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Cth>Cidade\u003C\u002Fth>\u003Ctd>São Paulo\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Cth>Estado\u003C\u002Fth>\u003Ctd>SP\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Cth>CEP\u003C\u002Fth>\u003Ctd>05410-002\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Cth>Telefone1\u003C\u002Fth>\u003Ctd>(11) 3509-0600\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Cth>Site\u003C\u002Fth>\u003Ctd>www.apexgroup.com\u002Fapex-brazil\u002F\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Cth>Email\u003C\u002Fth>\u003Ctd>infolegal@apexgroup.com\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Cth>Competencia\u003C\u002Fth>\u003Ctd>01\u002F12\u002F2025\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Ch4>Autorregulacao\u003C\u002Fh4>\u003Ctable>\u003Ctbody>\u003Ctr>\u003Cth>Classificacao\u003C\u002Fth>\u003Ctd>Multiestratégia\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Cth>Subclassificacao\u003C\u002Fth>\u003Ctd>Não possui subclassificação\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Cth>Tipo Gestao\u003C\u002Fth>\u003Ctd>Ativa\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Cth>Segmento Atuacao\u003C\u002Fth>\u003Ctd>Multicategoria\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Ch4>Mercado Negociacao\u003C\u002Fh4>\u003Ctable>\u003Ctbody>\u003Ctr>\u003Cth>Bolsa\u003C\u002Fth>\u003Ctd>Sim\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Cth>MBO\u003C\u002Fth>\u003Ctd>Não\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Cth>MB\u003C\u002Fth>\u003Ctd>Não\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Ch4>Entidade Administradora\u003C\u002Fh4>\u003Ctable>\u003Ctbody>\u003Ctr>\u003Cth>BVMF\u003C\u002Fth>\u003Ctd>Sim\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Cth>CETIP\u003C\u002Fth>\u003Ctd>Não\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Ch3>Informe Mensal\u003C\u002Fh3>\u003Ch4>Cotistas\u003C\u002Fh4>\u003Ctable>\u003Ctbody>\u003Ctr>\u003Cth>Data informacao\u003C\u002Fth>\u003Ctd>31\u002F12\u002F2025\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Cth>Total\u003C\u002Fth>\u003Ctd>103\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Cth>Pessoa Fisica\u003C\u002Fth>\u003Ctd>81\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Cth>Outros Fundos Inv\u003C\u002Fth>\u003Ctd>22\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Ch4>Resumo\u003C\u002Fh4>\u003Ctable>\u003Ctbody>\u003Ctr>\u003Cth>Ativo\u003C\u002Fth>\u003Ctd>17.561.925,19\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Cth>Patrimonio Liquido\u003C\u002Fth>\u003Ctd>17.151.030,55\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Cth>Num Cotas Emitidas\u003C\u002Fth>\u003Ctd>410.100\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Cth>Valor Patr Cotas\u003C\u002Fth>\u003Ctd>41,8215814435504\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Cth>Despesas Tx Administracao\u003C\u002Fth>\u003Ctd>0,000802065506203649\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Ch5>Rent Efetiva Mensal\u003C\u002Fh5>\u003Ctable>\u003Ctbody>\u003Ctr>\u003Cth>Total\u003C\u002Fth>\u003Ctd>0,01487\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Cth>Rent Patrimonial Mes\u003C\u002Fth>\u003Ctd>0,000516\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Cth>Dividend Yield Mes\u003C\u002Fth>\u003Ctd>0,014354\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Ch4>Informacoes Ativo\u003C\u002Fh4>\u003Ch5>Total Necessidades Liq\u003C\u002Fh5>\u003Ctable>\u003Ctbody>\u003Ctr>\u003Cth>Total\u003C\u002Fth>\u003Ctd>10.904.569,45\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Cth>Disponibilidades\u003C\u002Fth>\u003Ctd>100\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Cth>Fundos Renda Fixa\u003C\u002Fth>\u003Ctd>10.904.469,45\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Ch5>Total Investido\u003C\u002Fh5>\u003Ctable>\u003Ctbody>\u003Ctr>\u003Cth>Total\u003C\u002Fth>\u003Ctd>5.446.602,3\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Cth>FII\u003C\u002Fth>\u003Ctd>1.551.084,3\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Ch6>Direitos Bens Imoveis\u003C\u002Fh6>\u003Ctable>\u003Ctbody>\u003Ctr>\u003Cth>Total\u003C\u002Fth>\u003Ctd>3.895.518\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Cth>Imoveis Renda Construcao\u003C\u002Fth>\u003Ctd>3.895.518\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Ch5>Valores Receber\u003C\u002Fh5>\u003Ctable>\u003Ctbody>\u003Ctr>\u003Cth>Total\u003C\u002Fth>\u003Ctd>1.210.753,44\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Cth>Outros Valores\u003C\u002Fth>\u003Ctd>1.210.753,44\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Ch4>Informacoes Passivo\u003C\u002Fh4>\u003Ctable>\u003Ctbody>\u003Ctr>\u003Cth>Rendimentos Distribuir\u003C\u002Fth>\u003Ctd>246.060\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Cth>Tx Administracao Pagar\u003C\u002Fth>\u003Ctd>13.756,25\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Cth>Obrigacoes Aquisicao Imov\u003C\u002Fth>\u003Ctd>116.865,54\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Cth>Outros Valores Pagar\u003C\u002Fth>\u003Ctd>34.212,85\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Cth>Total Passivo\u003C\u002Fth>\u003Ctd>410.894,64\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>","https:\u002F\u002Fwww.kartac.com.br\u002Fapi\u002Ffiis\u002FPNRC11\u002Fdocumentos\u002F18066\u002Fpdf",true,"https:\u002F\u002Ffnet.bmfbovespa.com.br\u002Ffnet\u002Fpublico\u002FexibirDocumento?id=1130171&cvm=true","2025-12-01","2026-03-06 14:46:00",2,{"title":17,"description":18,"canonical":19,"image":20,"json_ld":21,"nome":46,"resumo":90},"Informe Mensal Estruturado PNRC11 de dezembro de 2025 | Kartac","Informe Mensal Estruturado de dezembro de 2025 do PNRC11 (Panorama Real Estate Crédito), entrega em 06\u002F03\u002F2026.","https:\u002F\u002Fwww.kartac.com.br\u002Fdetalhes\u002FPNRC11\u002Fdocumentos\u002F18066","https:\u002F\u002Fwww.kartac.com.br\u002Fimages\u002Fog.png",{"@context":22,"@graph":23},"https:\u002F\u002Fschema.org",[24,30,35,44,61,76],{"@type":25,"@id":26,"name":27,"url":28,"logo":29},"Organization","https:\u002F\u002Fwww.kartac.com.br\u002F#organizacao","Kartac","https:\u002F\u002Fwww.kartac.com.br\u002F","https:\u002F\u002Fwww.kartac.com.br\u002Fandroid-chrome-512x512.png",{"@type":31,"@id":32,"name":27,"url":28,"inLanguage":33,"publisher":34},"WebSite","https:\u002F\u002Fwww.kartac.com.br\u002F#site","pt-BR",{"@id":26},{"@type":36,"@id":37,"url":19,"name":17,"description":18,"inLanguage":33,"isPartOf":38,"dateModified":39,"mainEntity":40,"breadcrumb":42},"WebPage","https:\u002F\u002Fwww.kartac.com.br\u002Fdetalhes\u002FPNRC11\u002Fdocumentos\u002F18066#pagina",{"@id":32},"2026-10-20",{"@id":41},"https:\u002F\u002Fwww.kartac.com.br\u002Fdetalhes\u002FPNRC11\u002Fdocumentos\u002F18066#documento",{"@id":43},"https:\u002F\u002Fwww.kartac.com.br\u002Fdetalhes\u002FPNRC11\u002Fdocumentos\u002F18066#migalhas",{"@type":45,"@id":41,"name":46,"alternateName":5,"url":19,"inLanguage":33,"about":47,"genre":7,"datePublished":49,"version":50,"dateModified":49,"temporalCoverage":51,"author":52,"publisher":58,"isBasedOn":60},"Report","Informe Mensal Estruturado PNRC11 de dezembro de 2025",{"@id":48},"https:\u002F\u002Fwww.kartac.com.br\u002Fdetalhes\u002FPNRC11#fundo","2026-03-06","2","2025-12",{"@type":25,"name":53,"identifier":54},"AZ QUEST PANORAMA LTDA",{"@type":55,"propertyID":56,"value":57},"PropertyValue","CNPJ","37.783.771\u002F0001-02",{"@type":25,"name":59},"BRL TRUST DTVM S.A.","https:\u002F\u002Ffnet.bmfbovespa.com.br\u002Ffnet\u002Fpublico\u002FdownloadDocumento?id=1130171",{"@type":62,"@id":48,"name":63,"alternateName":64,"url":67,"category":68,"identifier":69,"provider":74},"InvestmentFund","Panorama Real Estate Crédito",[65,66],"PNRC11","PANORAMA REAL ESTATE CRÉDITO FUNDO DE INVESTIMENTO IMOBILIÁRIO RESPONSABILIDADE LIMITADA","https:\u002F\u002Fwww.kartac.com.br\u002Fdetalhes\u002FPNRC11","Papel",[70,72],{"@type":55,"propertyID":71,"value":65},"Ticker B3",{"@type":55,"propertyID":56,"value":73},"46.157.348\u002F0001-98",{"@type":25,"name":53,"identifier":75},{"@type":55,"propertyID":56,"value":57},{"@type":77,"@id":43,"itemListElement":78},"BreadcrumbList",[79,83,86,88],{"@type":80,"position":81,"name":82,"item":28},"ListItem",1,"Início",{"@type":80,"position":15,"name":84,"item":85},"FIIs","https:\u002F\u002Fwww.kartac.com.br\u002Franking",{"@type":80,"position":87,"name":65,"item":67},3,{"@type":80,"position":89,"name":5,"item":19},4,{"atualizado_em":91,"frases":92},"2026-11-04",[93,94,95,96],"Informe Mensal Estruturado do Panorama Real Estate Crédito (PNRC11), fundo imobiliário de papel, referente a dezembro de 2025, com entrega no FundosNet (B3) em 06\u002F03\u002F2026.","No pregão de 15\u002F06\u002F2026, a cota do PNRC11 fechou a R$ 28,13.","O patrimônio líquido era de R$ 2 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":98,"empresa":99,"gestor":103,"cotacoes":109,"patrimonio":110,"vpa":111,"p_vpa":112,"tipo_gestao":113,"mandato":112,"segmento":114,"categoria":68,"grupo":68,"preco_atual":115,"cotacao_atualizada_em":116,"ultima_variacao_cotacao_24h":112,"variacao_cotacao_7d":112,"variacao_cotacao_1m":112,"variacao_cotacao_3m":112,"variacao_cotacao_6m":117,"variacao_cotacao_12m":118,"vacancia_fisica":112,"liquidez_atual":81,"ultimo_dividendo":112,"ultimo_dividend_yield":112,"mes_pagamento_ultimo_dividendo":112,"dividend_yield_3m":112,"dividend_yield_6m":112,"dividend_yield_12m":112,"dividend_yield_medio_12m":112,"qtd_dividendos_pagos_ano_passado":119,"data_ultima_cotacao":120,"pregoes_com_negocio_21":119,"alertas":121,"updated_at":132,"liquidez_media_reais":112,"administrador":59,"taxa_administracao_paga":133,"balanco":134,"resultado_distribuido":140,"publico_alvo":145,"mercados_negociacao_cotas":146,"data_funcionamento":148,"data_final":112,"quantidade_cotas":149,"quantidade_cotistas":150,"detalhes_cotistas":151,"total_investido":154,"investimentos_fundo":155,"imoveis":158,"contratos":112,"custodiante":161,"auditor_independente":112,"formador_mercado":112,"distribuidor_cotas":112,"consultor_especializado":112,"administrador_locacoes":112,"relatorio_anual":166,"analise_administrador":169},595,{"nome":66,"nome_simplificado":100,"nome_comercial":63,"ticker":65,"nome_ticker":101,"nome_pregao":102,"cnpj":73},"PANORAMA REAL ESTATE CRÉDITO  RESPONSABILIDADE LIMITADA","PNRC11 - PANORAMA REAL ESTATE CRÉDITO FUNDO DE INVESTIMENTO IMOBILIÁRIO RESPONSABILIDADE LIMITADA","FII PNRC",{"id":104,"nome":53,"cnpj":105,"endereco":106,"telefone":107,"created_at":108,"updated_at":108},117,"37783771000102","Rua Tabapua, 422, Itaim Bibi, CEP: 04533-001","(11) 3168-0680","2026-10-03T19:01:56.000000Z",[],1998930.32,4.87,null,"Ativa","Multicategoria",28.13,"2026-06-25 19:14","0.0000","-0.5146",0,"2026-06-15",[122,127],{"tipo":123,"campo":124,"titulo":125,"texto":126},"cotacao_antiga","preco_atual","Cotação antiga","O último negócio registrado é de 15\u002F06\u002F2026. O preço, a liquidez e os indicadores calculados com ele (DY, P\u002FVP, variação) são desse dia, não do mercado de hoje.",{"tipo":128,"campo":129,"titulo":130,"texto":131},"pvp_inconsistente","p_vpa","P\u002FVP inconsistente","A cotação (R$ 28,13) é 5,8 vezes o valor patrimonial por cota do último informe mensal (R$ 4,87). Isso costuma ser cotação antiga, amortização recente ou erro no informe enviado à CVM, então o P\u002FVP não é exibido.","04\u002F11\u002F2026 23:01",0.0123,{"data_referencia":135,"ativo":136,"passivo":137,"obrigacoes_imoveis":119,"obrigacoes_securitizacao":119,"liquidez":138,"valores_receber":139},"2026-09-01",2026377.69,27447.37,269727.91,2258.66,{"data_referencia":141,"resultado":142,"rendimentos":143,"percentual":144},"2026-06-30",240568.15,239908.5025,0.9972579599585398,"Investidores em Geral",[147],"Bolsa","2022-10-11",410100,103,{"Pessoa Física":152,"Outros fundos de investimento":153},81,22,1754391.12,{"CRI \u002F CRA":156,"Cotas de FIIs":157},1405711.12,348680,{"vacancia_total":119,"lista_imoveis":159,"data_referencia":141,"vacancia_suspeita":160},[],false,{"id":15,"nome":59,"cnpj":162,"endereco":163,"telefone":164,"created_at":165,"updated_at":165},"13486793000142","R. Alves Guimarães, 1216 - Pinheiros, São Paulo - SP, 05410-002","(11) 3509-0600","2026-06-07T17:17:20.000000Z",{"ano_referencia":167,"data_disponibilizacao":168},"2025","2026-03-18",{"ResultadoFundo":170,"ConjunturaEconomica":171,"PerspectivaPeriodoSeguinte":172},"No exercício social findo em 31\u002F12\u002F2025, o Fundo, foi apurado um prejuízo contabil no montante de R$ 5.991.229,47","Com base nas tendências atuais, espera-se que o mercado imobiliário continue a se recuperar e a se adaptar às novas demandas, apresentando crescimento moderado, especialmente nas regiões urbanas e em segmentos que priorizam sustentabilidade e tecnologia. A estabilidade econômica e políticas de incentivo ao setor serão fundamentais para sustentar esse crescimento.","A perspectiva para o próximo período, considerando a composição de carteiras imobiliárias, aponta para um cenário de potencial valorização e estabilidade, dependendo da diversificação e do perfil dos ativos incluídos. Carteiras bem balanceadas, que combinam imóveis comerciais, residenciais e logísticos, tendem a oferecer maior resiliência diante de variações econômicas e de mercado. Além disso, a preferência por ativos localizados em regiões com forte crescimento econômico e infraestrutura consolidada pode impulsionar retornos positivos. No entanto, é importante monitorar fatores como a taxa de juros, a inflação e as tendências de demanda por diferentes tipos de imóveis, pois esses elementos podem influenciar a rentabilidade e a liquidez das carteiras imobiliárias no período seguinte."]