[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"documento:VVCR11:15069":3,"seo:\u002Fdetalhes\u002FVVCR11\u002Fdocumentos\u002F15069":16,"fii-documento:VVCR11":96},{"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},15069,"(VVCR) Relatório Gerencial - 31\u002F12\u002F2025","Relatório Gerencial","Relatórios","(Ativo)","\u003Ch3>V2 RECEBÍVEIS IMOBILIÁRIOS VVCR1\u003C\u002Fh3>\u003Cp>DEZEMBRO 202\u003C\u002Fp>\u003Ch3>V2 RECEBÍVEIS IMOBILIÁRIOS VVCR1\u003C\u002Fh3>\u003Ch3>DEZEMBRO 202\u003C\u002Fh3>\u003Ch3>RESUMO\u003C\u002Fh3>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>Valor de MercadoR$ 69,6 milhões\u003C\u002Fth>\u003Cth>Valor PatrimonialR$ 76,9 milhões\u003C\u002Fth>\u003Cth>Cota ValorMercadoR$ 9,27\u003C\u002Fth>\u003Cth>Cota ValorPatrimonialR$ 10,24\u003C\u002Fth>\u003Cth>Duration doPortfólio4,22 Anos\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>RendimentoR$ 0,14\u003C\u002Ftd>\u003Ctd>Dividend YieldMensal1,48%\u003C\u002Ftd>\u003Ctd>Retorno Mensal2,31%\u003C\u002Ftd>\u003Ctd>Nº de cotistas2.130\u003C\u002Ftd>\u003Ctd>Yield de Mercado12,03%\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Ch3>Comentáriodo Gestor\u003C\u002Fh3>\u003Cp>No mês de novembro,o VVCRapresentouum resultadolíquidode \u003Cstrong>R$ 1.046.326,46\u003C\u002Fstrong>, equivalentea \u003Cstrong>R$ 0,14\u003C\u002Fstrong>po cota. A principalcontribuiçãoveio\u003Cstrong>da carteira de CRIs\u003C\u002Fstrong>, totalizando\u003Cstrong>R$\u003C\u002Fstrong> 729.261,33, refletindoo pagamentode jurosrecorrentese o pagamentoanualdo CRIAmparoYpê, alémda correçãomonetáriae vendasno mercado secundário,onde reduzimosnovamentea exposiçãono CRI Villa XP, reforçandoa posição de caixa para operaçõesno pipelineda V2. Em paralelo,o fundodesembolsouR$ 155.658,715para a operaçãoCRI Montreco Vila Mariana. As \u003Cstrong>operações em FIIs\u003C\u002Fstrong> registraram um resultado de \u003Cstrong>R$ 382.776,37\u003C\u002Fstrong>, impulsionadaspelos rendimentosmensaisda carteira.\u003C\u002Fp>\u003Cp>Comisso,distribuímosaos cotistaso valorde \u003Cstrong>R$ 0,1376\u003C\u002Fstrong>por cota,o querepresentaum \u003Cstrong>DividendYieldde 1,48%\u003C\u002Fstrong> sobreo valorde mercadode fechamentodo mês de dezembro. O valoracimados meses anterioresrefletea distribuiçãodo resultadoacumuladode 95% do lucroauferidono semestre,de formaquemantivemosa média dedistribuiçãonos6 últimosmesesdoanoemlinhacomo guidanceda gestão,deR$ 0,10porcota.\u003C\u002Fp>\u003Cp>Nocenárioeconômico,vimosa inflaçãode novembroatingir\u003Cstrong>0,33%\u003C\u002Fstrong> (IBGE),mantendoa inflaçãoacumuladanos 12meses abaixodo teto da bandasuperior,em 4,26%, comoreflexoda políticamonetáriarestritivado Banco Central. Os CRIs atreladosa inflaçãorefletem,em sua maioria,a variaçãode doismesesanterioresa apuraçã de resultados,ou seja, o resultadode novembrorefleteas variaçõesdo IPCAde outubro(0,09%) e novembr (0,18%).\u003C\u002Fp>\u003Cp>Por fim,estamosem andamentoda \u003Cstrong>4ª emissãode cotas no VVCR,\u003C\u002Fstrong>querepresentaum movimentoestratégic da gestão para o crescimentoe criação de valor no fundo,reduzindoconcentraçãode ativos da carteira ganhandoescala paranovasoperaçõese possibilitandomaiorliquideznomercadosecundário.\u003C\u002Fp>\u003Ch3>InformeMensa\u003C\u002Fh3>\u003Cp>Rendimentose Amortizaçõe\u003C\u002Fp>\u003Cp>OfertaPúblicadeDistribuiçãodeCotas- AnúnciodeIníci\u003C\u002Fp>\u003Ch3>V2 RECEBÍVEIS IMOBILIÁRIOS VVCR1\u003C\u002Fh3>\u003Ch3>INFORMAÇÕESCONTÁBEI\u003C\u002Fh3>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>DRE\u003C\u002Fth>\u003Cth>jul-25\u003C\u002Fth>\u003Cth>ago\u002F25\u003C\u002Fth>\u003Cth>set\u002F25\u003C\u002Fth>\u003Cth>out\u002F25\u003C\u002Fth>\u003Cth>nov\u002F25\u003C\u002Fth>\u003Cth>dez\u002F25\u003C\u002Fth>\u003Cth>Média 6 meses\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>Resultado CRI\u003C\u002Ftd>\u003Ctd>440.346,07\u003C\u002Ftd>\u003Ctd>555.696,98\u003C\u002Ftd>\u003Ctd>440.055,31\u003C\u002Ftd>\u003Ctd>648.451,67\u003C\u002Ftd>\u003Ctd>789.921,87\u003C\u002Ftd>\u003Ctd>729.261,33\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Resultado FIl\u003C\u002Ftd>\u003Ctd>206.125,45\u003C\u002Ftd>\u003Ctd>472.996,64\u003C\u002Ftd>\u003Ctd>185.787,27\u003C\u002Ftd>\u003Ctd>203.189,51\u003C\u002Ftd>\u003Ctd>238.196,78\u003C\u002Ftd>\u003Ctd>382.776,37\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Resultado Caixa\u003C\u002Ftd>\u003Ctd>5.937,07\u003C\u002Ftd>\u003Ctd>17.536,30\u003C\u002Ftd>\u003Ctd>30.232,35\u003C\u002Ftd>\u003Ctd>37.714,56\u003C\u002Ftd>\u003Ctd>22.828,53\u003C\u002Ftd>\u003Ctd>22.421,21\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Despesas do Fundo\u003C\u002Ftd>\u003Ctd>-96.044,29\u003C\u002Ftd>\u003Ctd>-86.872,14\u003C\u002Ftd>\u003Ctd>-87.720,27\u003C\u002Ftd>\u003Ctd>-89.246,64\u003C\u002Ftd>\u003Ctd>-73.847,53\u003C\u002Ftd>\u003Ctd>-88.132,45\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Resultado Líquido\u003C\u002Ftd>\u003Ctd>556.364,30\u003C\u002Ftd>\u003Ctd>959.357,78\u003C\u002Ftd>\u003Ctd>568.354,66\u003C\u002Ftd>\u003Ctd>800.109,10\u003C\u002Ftd>\u003Ctd>977.099,65\u003C\u002Ftd>\u003Ctd>1.046.326,46\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Quantidade de cotas\u003C\u002Ftd>\u003Ctd>7.508.332\u003C\u002Ftd>\u003Ctd>7.508.332\u003C\u002Ftd>\u003Ctd>7.508.332\u003C\u002Ftd>\u003Ctd>7.508.332\u003C\u002Ftd>\u003Ctd>7.508.332\u003C\u002Ftd>\u003Ctd>7.508.332\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Resultado por cota (R$]\u003C\u002Ftd>\u003Ctd>0,07\u003C\u002Ftd>\u003Ctd>0,13\u003C\u002Ftd>\u003Ctd>0,076\u003C\u002Ftd>\u003Ctd>0,107\u003C\u002Ftd>\u003Ctd>0,13\u003C\u002Ftd>\u003Ctd>0,14\u003C\u002Ftd>\u003Ctd>0,11\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Distribuição por cota (R$)\u003C\u002Ftd>\u003Ctd>0,11\u003C\u002Ftd>\u003Ctd>0,10\u003C\u002Ftd>\u003Ctd>0,06\u003C\u002Ftd>\u003Ctd>0,10\u003C\u002Ftd>\u003Ctd>0,10\u003C\u002Ftd>\u003Ctd>0,14\u003C\u002Ftd>\u003Ctd>0,10\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Saldo acumulado por cota\u003C\u002Ftd>\u003Ctd>-0,03\u003C\u002Ftd>\u003Ctd>-0,01\u003C\u002Ftd>\u003Ctd>0,01\u003C\u002Ftd>\u003Ctd>0,01\u003C\u002Ftd>\u003Ctd>0,04\u003C\u002Ftd>\u003Ctd>0,04\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Dividend Yield Mercado\u003C\u002Ftd>\u003Ctd>1,11%\u003C\u002Ftd>\u003Ctd>1,00%\u003C\u002Ftd>\u003Ctd>0,61%\u003C\u002Ftd>\u003Ctd>1,11%\u003C\u002Ftd>\u003Ctd>1,06%\u003C\u002Ftd>\u003Ctd>1,08%\u003C\u002Ftd>\u003Ctd>0,99%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Dividend Yield Patrimonial\u003C\u002Ftd>\u003Ctd>1,07%\u003C\u002Ftd>\u003Ctd>0,98%\u003C\u002Ftd>\u003Ctd>0,59%\u003C\u002Ftd>\u003Ctd>0,99%\u003C\u002Ftd>\u003Ctd>0,98%\u003C\u002Ftd>\u003Ctd>0,98%\u003C\u002Ftd>\u003Ctd>0,93%\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Ch3>LIQUIDEZ\u003C\u002Fh3>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>Parâmetros\u003C\u002Fth>\u003Cth>Mês\u003C\u002Fth>\u003Cth>Ano\u003C\u002Fth>\u003Cth>12 Meses\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>Volume Financeiro\u003C\u002Ftd>\u003Ctd>631.436,92\u003C\u002Ftd>\u003Ctd>94.284.511,81\u003C\u002Ftd>\u003Ctd>94.284.511,81\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Giro\u003C\u002Ftd>\u003Ctd>0,91%\u003C\u002Ftd>\u003Ctd>135,46%\u003C\u002Ftd>\u003Ctd>135,46%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>PresençaemPregões\u003C\u002Ftd>\u003Ctd>91%\u003C\u002Ftd>\u003Ctd>99%\u003C\u002Ftd>\u003Ctd>99%\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Ch3>CARTEIRA\u003C\u002Fh3>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F15069\u002Fpage_2_chart_7.jpg\">\u003C\u002Fp>\u003Ch3>V2 RECEBÍVEIS IMOBILIÁRIOS F VVCR1\u003C\u002Fh3>\u003Ch3>PORTFÓLIODECRIs\u003C\u002Fh3>\u003Ctable>\u003Ctr>\u003Ctd colspan=\"7\">Código do Taxa Taxa SaldoAtivo Emissora IndexadorAtivo Aquisição MTM MTM\u003C\u002Ftd>\u003Ctd>% daCarteira\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Jaraguá do Sul\u003C\u002Ftd>\u003Ctd>13F0056986\u003C\u002Ftd>\u003Ctd>Habitasec\u003C\u002Ftd>\u003Ctd>IPCA\u003C\u002Ftd>\u003Ctd>7,15%\u003C\u002Ftd>\u003Ctd>8,07%\u003C\u002Ftd>\u003Ctd>4.091.040,15\u003C\u002Ftd>\u003Ctd>5,31%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>JFL Living\u003C\u002Ftd>\u003Ctd>2311696564\u003C\u002Ftd>\u003Ctd>0pea\u003C\u002Ftd>\u003Ctd>IPCA\u003C\u002Ftd>\u003Ctd>7,20%\u003C\u002Ftd>\u003Ctd>9,46%\u003C\u002Ftd>\u003Ctd>3.926.568,63\u003C\u002Ftd>\u003Ctd>5,10%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>HGRU11 Makro\u003C\u002Ftd>\u003Ctd>21L0666509\u003C\u002Ftd>\u003Ctd>Virgo\u003C\u002Ftd>\u003Ctd>IPCA\u003C\u002Ftd>\u003Ctd>7,00%\u003C\u002Ftd>\u003Ctd>10,25%\u003C\u002Ftd>\u003Ctd>3.587.792,95\u003C\u002Ftd>\u003Ctd>4,66%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>General Shopping\u003C\u002Ftd>\u003Ctd>22L1309906\u003C\u002Ftd>\u003Ctd>True\u003C\u002Ftd>\u003Ctd>IPCA\u003C\u002Ftd>\u003Ctd>8,00%\u003C\u002Ftd>\u003Ctd>8,35%\u003C\u002Ftd>\u003Ctd>3.563.022,23\u003C\u002Ftd>\u003Ctd>4,63%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Sanema\u003C\u002Ftd>\u003Ctd>22G0701494\u003C\u002Ftd>\u003Ctd>Opea\u003C\u002Ftd>\u003Ctd>IPCA\u003C\u002Ftd>\u003Ctd>7,80%\u003C\u002Ftd>\u003Ctd>9,81%\u003C\u002Ftd>\u003Ctd>3.403.291,84\u003C\u002Ftd>\u003Ctd>4,42%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Hedge Design Offices\u003C\u002Ftd>\u003Ctd>22K0016415\u003C\u002Ftd>\u003Ctd>Virgo\u003C\u002Ftd>\u003Ctd>IPCA\u003C\u002Ftd>\u003Ctd>7,50%\u003C\u002Ftd>\u003Ctd>9,53%\u003C\u002Ftd>\u003Ctd>3.373.392,87\u003C\u002Ftd>\u003Ctd>4,38%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>CRI CORP HSI BEMOL\u003C\u002Ftd>\u003Ctd>22J0978863\u003C\u002Ftd>\u003Ctd>Virgo\u003C\u002Ftd>\u003Ctd>IPCA\u003C\u002Ftd>\u003Ctd>7,15%\u003C\u002Ftd>\u003Ctd>10,07%\u003C\u002Ftd>\u003Ctd>3.272.410,21\u003C\u002Ftd>\u003Ctd>4,25%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Leo Madeiras\u003C\u002Ftd>\u003Ctd>22A0699149\u003C\u002Ftd>\u003Ctd>Opea\u003C\u002Ftd>\u003Ctd>IPCA\u003C\u002Ftd>\u003Ctd>7,00%\u003C\u002Ftd>\u003Ctd>8,73%\u003C\u002Ftd>\u003Ctd>2.992.929,76\u003C\u002Ftd>\u003Ctd>3,89%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Montrecon Vila Mariana\u003C\u002Ftd>\u003Ctd>2510175369\u003C\u002Ftd>\u003Ctd>Habitasec\u003C\u002Ftd>\u003Ctd>CDI\u003C\u002Ftd>\u003Ctd>4,00%\u003C\u002Ftd>\u003Ctd>4,03%\u003C\u002Ftd>\u003Ctd>2.991.284,28\u003C\u002Ftd>\u003Ctd>3,88%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Barra GPA\u003C\u002Ftd>\u003Ctd>2311487360\u003C\u002Ftd>\u003Ctd>Casa de Pedra\u003C\u002Ftd>\u003Ctd>INCC-DI\u003C\u002Ftd>\u003Ctd>9,00%\u003C\u002Ftd>\u003Ctd>11,07%\u003C\u002Ftd>\u003Ctd>2.808.142,86\u003C\u002Ftd>\u003Ctd>3,65%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Hedge Desenvolvimento Logístico 1º Série\u003C\u002Ftd>\u003Ctd>2210089753\u003C\u002Ftd>\u003Ctd>Habitasec\u003C\u002Ftd>\u003Ctd>IPCA\u003C\u002Ftd>\u003Ctd>7,50%\u003C\u002Ftd>\u003Ctd>9,98%\u003C\u002Ftd>\u003Ctd>2.745.776,70\u003C\u002Ftd>\u003Ctd>3,57%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Direcional II\u003C\u002Ftd>\u003Ctd>21D0737500\u003C\u002Ftd>\u003Ctd>True\u003C\u002Ftd>\u003Ctd>IPCA\u003C\u002Ftd>\u003Ctd>4,80%\u003C\u002Ftd>\u003Ctd>8,56%\u003C\u002Ftd>\u003Ctd>2.625.605,51\u003C\u002Ftd>\u003Ctd>3,41%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Hedge Desenvolvimento Logístico 3º Série\u003C\u002Ftd>\u003Ctd>231257019\u003C\u002Ftd>\u003Ctd>Habitasec\u003C\u002Ftd>\u003Ctd>IPCA\u003C\u002Ftd>\u003Ctd>8,00%\u003C\u002Ftd>\u003Ctd>9,98%\u003C\u002Ftd>\u003Ctd>2.579.042,07\u003C\u002Ftd>\u003Ctd>3,35%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Thera Corporate\u003C\u002Ftd>\u003Ctd>21G0063256\u003C\u002Ftd>\u003Ctd>True\u003C\u002Ftd>\u003Ctd>IPCA\u003C\u002Ftd>\u003Ctd>7,40%\u003C\u002Ftd>\u003Ctd>9,87%\u003C\u002Ftd>\u003Ctd>2.531.444,22\u003C\u002Ftd>\u003Ctd>3,29%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Allard Oscar Freire\u003C\u002Ftd>\u003Ctd>22E1273339\u003C\u002Ftd>\u003Ctd>Canal\u003C\u002Ftd>\u003Ctd>IPCA\u003C\u002Ftd>\u003Ctd>10,00%\u003C\u002Ftd>\u003Ctd>10,09%\u003C\u002Ftd>\u003Ctd>2.331.881,97\u003C\u002Ftd>\u003Ctd>3,03%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Amparo Ypê\u003C\u002Ftd>\u003Ctd>17A0060699\u003C\u002Ftd>\u003Ctd>Brazilian Securities\u003C\u002Ftd>\u003Ctd>IGPM\u003C\u002Ftd>\u003Ctd>10,00%\u003C\u002Ftd>\u003Ctd>14,36%\u003C\u002Ftd>\u003Ctd>1.729.315,85\u003C\u002Ftd>\u003Ctd>2,24%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Durli\u003C\u002Ftd>\u003Ctd>22C0004806\u003C\u002Ftd>\u003Ctd>Virgo\u003C\u002Ftd>\u003Ctd>IPCA\u003C\u002Ftd>\u003Ctd>7,76%\u003C\u002Ftd>\u003Ctd>12,87%\u003C\u002Ftd>\u003Ctd>1.271.439,03\u003C\u002Ftd>\u003Ctd>1,65%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Aliansce Sonae - Atual ALLOS\u003C\u002Ftd>\u003Ctd>21G0065100\u003C\u002Ftd>\u003Ctd>RB\u003C\u002Ftd>\u003Ctd>IPCA\u003C\u002Ftd>\u003Ctd>4,62%\u003C\u002Ftd>\u003Ctd>8,19%\u003C\u002Ftd>\u003Ctd>1.054.065,59\u003C\u002Ftd>\u003Ctd>1,37%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>AIZI\u003C\u002Ftd>\u003Ctd>21F0569265\u003C\u002Ftd>\u003Ctd>Virgo\u003C\u002Ftd>\u003Ctd>IPCA\u003C\u002Ftd>\u003Ctd>9,01%\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>661.986,59\u003C\u002Ftd>\u003Ctd>0,86%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Lote5\u003C\u002Ftd>\u003Ctd>22J0311263\u003C\u002Ftd>\u003Ctd>Casa de Pedra\u003C\u002Ftd>\u003Ctd>IPCA\u003C\u002Ftd>\u003Ctd>10,00%\u003C\u002Ftd>\u003Ctd>15,54%\u003C\u002Ftd>\u003Ctd>593.914,30\u003C\u002Ftd>\u003Ctd>0,77%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Arquiplan Paulista\u003C\u002Ftd>\u003Ctd>23A1564492\u003C\u002Ftd>\u003Ctd>Casa de Pedra\u003C\u002Ftd>\u003Ctd>INCC-DI\u003C\u002Ftd>\u003Ctd>9,00%\u003C\u002Ftd>\u003Ctd>9,13%\u003C\u002Ftd>\u003Ctd>286.001,35\u003C\u002Ftd>\u003Ctd>0,37%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Villa XP\u003C\u002Ftd>\u003Ctd>21D0456641\u003C\u002Ftd>\u003Ctd>Virgo\u003C\u002Ftd>\u003Ctd>IPCA\u003C\u002Ftd>\u003Ctd>8,50%\u003C\u002Ftd>\u003Ctd>8,05%\u003C\u002Ftd>\u003Ctd>268.102,65\u003C\u002Ftd>\u003Ctd>0,34%\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftable>\u003Ctable>\u003Ctbody>\u003Ctr>\u003Ctd colspan=\"2\">Indexador Proporçãoda Carteira\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>IPCA\u003C\u002Ftd>\u003Ctd>85,17%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>CDI\u003C\u002Ftd>\u003Ctd>5,68%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>INCC-DI\u003C\u002Ftd>\u003Ctd>5,87%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>IGPM\u003C\u002Ftd>\u003Ctd>3,28%\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Ctable>\u003Ctbody>\u003Ctr>\u003Ctd colspan=\"2\">Indexador Taxa Média(MtM)\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>*IPCA+\u003C\u002Ftd>\u003Ctd>9,80%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>CDI+\u003C\u002Ftd>\u003Ctd>4,03%\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>* Ativos INCC e IGPM foram convertidos para\u003C\u002Fp>\u003Cp>** Devido a precificação do administrador e da reestruturação d retiramos AIZ I da conta de taxa mé\u003C\u002Fp>\u003Ch3>V2 RECEBÍVEIS IMOBILIÁRIOS VVCR1\u003C\u002Fh3>\u003Cp>CLASSIFICAÇÃOPORSEGMENTO(%PL)\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F15069\u002Fpage_4_chart_3.jpg\">\u003C\u002Fp>\u003Cp>CLASSIFICAÇÃOPORINDEXADOR(%PL)\u003C\u002Fp>\u003Ch3>CLASSIFICAÇÃOPORSECURITIZADORA(% CARTEIRADECRIs)\u003C\u002Fh3>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F15069\u002Fpage_4_chart_6.jpg\">\u003C\u002Fp>\u003Ch3>V2 RECEBÍVEIS IMOBILIÁRIOS F VVCR1\u003C\u002Fh3>\u003Ch3>SENSIBILIDADEDANEGOCIAÇÃONOMERCADOSEUNDÁRI\u003C\u002Fh3>\u003Ctable>\u003Ctr>\u003Ctd colspan=\"2\">VVCR\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd rowspan=\"7\">patmmnial\u003C\u002Ftd>\u003Ctd>Patrimônio Líquido (R$) 76.903.879,05\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Cota Patrimonial (R$\u002FCota) 10,24\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Carteira de CRIs (% do PL) 68,51%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Duration Portfólio de CRIs IPCA 4,22\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Yield % a.a. (IPCA +) 9,80%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Yield % a.a. (IPCA +} - ADM 8,65%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Spread (NTN-B29 +) 1,81%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd rowspan=\"3\">Merrcado\u003C\u002Ftd>\u003Ctd>Cota Mercado (R$\u002FCota] 9,27\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Ágio (+} \u002F Deságio (−) sobre PL -9,49%Ult. Dividend Yield Anualizado 19,35%Yield % a.a. (IPCA +) 12,03%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Spread (NTN-B29 +) 3,90%\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftable>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>Preço Mercado\u003C\u002Fth>\u003Cth>Yield (IPCA+)\u003C\u002Fth>\u003Cth>Yield% a.a. (-) Taxa ADM\u003C\u002Fth>\u003Cth>Spread NTN-B (-) Taxa ADM\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>10,27\u003C\u002Ftd>\u003Ctd>9,59%\u003C\u002Ftd>\u003Ctd>8,44%\u003C\u002Ftd>\u003Ctd>0,47%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>10,02\u003C\u002Ftd>\u003Ctd>10,18%\u003C\u002Ftd>\u003Ctd>9,03%\u003C\u002Ftd>\u003Ctd>1,02%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>9,77\u003C\u002Ftd>\u003Ctd>10,78%\u003C\u002Ftd>\u003Ctd>9,63%\u003C\u002Ftd>\u003Ctd>1,58%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>9,52\u003C\u002Ftd>\u003Ctd>11,41%\u003C\u002Ftd>\u003Ctd>10,26%\u003C\u002Ftd>\u003Ctd>2,16%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>9,27\u003C\u002Ftd>\u003Ctd>12,05%\u003C\u002Ftd>\u003Ctd>10,90%\u003C\u002Ftd>\u003Ctd>2,75%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>9,02\u003C\u002Ftd>\u003Ctd>12,68%\u003C\u002Ftd>\u003Ctd>11,53%\u003C\u002Ftd>\u003Ctd>3,34%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>8,77\u003C\u002Ftd>\u003Ctd>13,34%\u003C\u002Ftd>\u003Ctd>12,19%\u003C\u002Ftd>\u003Ctd>3,95%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>8,52\u003C\u002Ftd>\u003Ctd>14,02%\u003C\u002Ftd>\u003Ctd>12,87%\u003C\u002Ftd>\u003Ctd>4,58%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>8,27\u003C\u002Ftd>\u003Ctd>14,71%\u003C\u002Ftd>\u003Ctd>13,56%\u003C\u002Ftd>\u003Ctd>5,22%\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Ch3>AIZ (21F056926\u003C\u002Fh3>\u003Cp>IPCA+ 9,00%\u003C\u002Fp>\u003Cp>A operação possui como garantia a alienação fiduciária da fábrica de máquinasdegrandeporteemSãoJosédosPinhais– PR.\u003C\u002Fp>\u003Cp>Em 2024, os 3 CRIs emitidospelo grupo tiveramseus pagamentosde juros atrasados,iniciandoa sequênciade assembleiase busca por soluçãojunto aos investidores. Aoperaçãoatualmenteencontra-se emreestruturação.\u003C\u002Fp>\u003Ch3>Aliansce Sonae - ALLOS (21G006510\u003C\u002Fh3>\u003Cp>IPCA+ 4,62\u003C\u002Fp>\u003Cp>CRIcom prazode 7anos(emitidoem 2021),lastreadoem debênturessimple e comratingdeemissãoAAApelaFitchRatings.\u003C\u002Fp>\u003Cp>Nãocontacomgarantiasespecíficas,reaisoupessoais.\u003C\u002Fp>\u003Cp>• PossuicovenantDívidaLíquida\u002F EBITDA<=3,5.\u003C\u002Fp>\u003Cp>Os números da devedora mostram um histórico saudável, com baix endividamento,fortegeraçãode caixae margensaltas. Osnúmerosdo1°T\u002F2 mostraramMargemEbitdaAj. De72,2%e MargemLíquidaem40,4%.\u003C\u002Fp>\u003Ch3>Amparo Ypê(17A006069\u003C\u002Fh3>\u003Cp>IGP-M+ 10,00\u003C\u002Fp>\u003Cp>CRI é baseado em um contrato BTS atípico intragrupono conglomerad conhecidocomo Ypê, ou seja, risco extremamentecontrolado,dado que é umagigantedomercadoem produtosparao varejo.\u003C\u002Fp>\u003Cp>Contratode20anoscorrigidosporIGP-Me commultaemcaso de rescisão.\u003C\u002Fp>\u003Cp>A químicaAmparopossuifaturamentode R$ 7 bilhõespor ano,e índicesde endividamentobaixíssimos,com Div. Líq. \u002F EBITDAem 0,026x e EBIT \u002F DespesasFinanceirasem6,28x.\u003C\u002Fp>\u003Ch3>ArquiplanPaulista (23A156449\u003C\u002Fh3>\u003Cp>INCC-DI+ 9,00%\u003C\u002Fp>\u003Cp>Operaçãoestruturadaenvolvendoa emissão de Certificadode Recebívei Imobiliários(CRI) para o desenvolvimentode projeto residencial CITZ PaulistapelaincorporadoraArquiplan.\u003C\u002Fp>\u003Cp>A operação conta com alienação fiduciária das cotas da SPE, alienaçã fiduciáriadas unidadesdo empreendimento, cessãofiduciáriados recebívei avaldossóciosda Arquiplane avalda Holding.\u003C\u002Fp>\u003Cp>• Prazode 48meses,comamortizaçãocash sweepe durationde 1,7ano.\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F15069\u002Fpage_6_image_23.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F15069\u002Fpage_6_image_24.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F15069\u002Fpage_6_image_25.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F15069\u002Fpage_6_image_26.jpg\">\u003C\u002Fp>\u003Ch3>Barra (23I148736\u003C\u002Fh3>\u003Cp>INCC-DI+ 9,50%\u003C\u002Fp>\u003Cp>OperaçãoparaumempreendimentoimobiliárionoRiode Janeiro,próximode umdoseixosmaisimportantesda cidade,a Av. das Américas.\u003C\u002Fp>\u003Cp>Aoperaçãocontacomas seguintesgarantias: alienaçãofiduciáriadoterreno performancebond,avalda holdinge avaldossóciospessoafísica.\u003C\u002Fp>\u003Cp>Emitidoem 15\u002F09\u002F2023,temdurationde4,5anose prazode9 anos.\u003C\u002Fp>\u003Ch3>Direcional II (21D073750\u003C\u002Fh3>\u003Cp>IPCA+ 4,84%\u003C\u002Fp>\u003Cp>CRIcomlastroemdebênturese comratingAAApelaS&P.\u003C\u002Fp>\u003Cp>Direcionalé uma incorporadorade reconhecidocompetênciano mercad imobiliáriodemédiae baixarenda.\u003C\u002Fp>\u003Cp>As vendaslíquidasda companhiatotalizaramR$ 1,68 bilhãono 2°T\u002F2025e geraçãodecaixapróximoa R$ 400milhões..\u003C\u002Fp>\u003Cp>CRInãocontacomgarantiafidejussóriaoureais.\u003C\u002Fp>\u003Ch3>Durli(22C0004806)\u003C\u002Fh3>\u003Cp>IPCA + 7,74\u003C\u002Fp>\u003Cp>Grupocom 64 anos de história e o 2° maior processadorde couros da AméricaLatina,com8 milhõesde capacidadeinstalada.\u003C\u002Fp>\u003Cp>Possui 37mil hectaresem propriedadesrurais,incluindo15mil hectaresde colheitasdesoja,milhoe algodão.\u003C\u002Fp>\u003Cp>CRI conta com AF de duas fazendasem São José do Xingu– MT,com área totalde 12milhectarese avaliadasem R$ 176mm(LTVatualde 42%).\u003C\u002Fp>\u003Ch3>Gafisa (22E127333\u003C\u002Fh3>\u003Cp>IPCA + 9,50%\u003C\u002Fp>\u003Cp>A Operaçãotem como objetivoo desenvolvimentode um empreendimen residencialdealtopadrãolocalizadona ruaOscarFreire.\u003C\u002Fp>\u003Cp>Possui como garantias a cessão fiduciária dos recebíveis, a alienaçã fiduciáriadoterrenoe umfundodeliquidez.\u003C\u002Fp>\u003Cp>EmpresaMonitorifoi contratadarecentementepara efetuaras mediçõesda obra.\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F15069\u002Fpage_7_image_24.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F15069\u002Fpage_7_image_25.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F15069\u002Fpage_7_image_26.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F15069\u002Fpage_7_image_27.jpg\">\u003C\u002Fp>\u003Ch3>General Shopping (22L130990\u003C\u002Fh3>\u003Cp>IPCA + 8,00%\u003C\u002Fp>\u003Cp>A GeneralShoppinge Outletsadmnistra9 shoppingse 6 outlets,totalizand 293,2milm² deÁreaBrutaLocável(ABL).\u003C\u002Fp>\u003Cp>A operaçãopossuicomoobjetivofinanciara construçãodo OutletPremium Imigrantese a expansãodoOutletPremiumSãoPaulo.\u003C\u002Fp>\u003Cp>Possui como garantiasa AF e CF de 100% do AutoShopping,34% do Outle PremiumGrandeSão Paulo,50% do OutletPremiumImigrantese 50% da expansãodoOutletPremiumSãoPaulo.\u003C\u002Fp>\u003Ch3>Hedge Desenvolvimento Logístico (22I0089753\u002F23I1257 IPCA + 8,75%\u002FIPCA + 8,00\u003C\u002Fh3>\u003Cp>Financiamentopara a construçãode um condomíniologísticocom 78.542,7 m² de ABL, distribuídoem 14módulos,em Varginha-MGe adquiridopelo Hedge DesenvolvimentoLogístico FII (HDEL11), fundo de desenvolvimen administradopelaHedgeInvestment.\u003C\u002Fp>\u003Cp>Imóvelatualmenteestá 100%locadoe possuiestruturadistribuídaentresete locatários,incluindofarmacêuticasde grandeporte(60% ABL),empresasdo setorautomotivo(27%ABL)eoperadoreslogísticos(13%ABL).\u003C\u002Fp>\u003Cp>• Principaislocatáriossão Panpharma(30%),Marelli(27%) e Libbs(14%).\u003C\u002Fp>\u003Ch3>Hedge Design Offices (22K00164 IPCA + 8,15\u003C\u002Fh3>\u003Cp>Financiamentoparaa construçãode um DesignOfficecom projetoda Metr Arquitetos,desenvolvidopelo Hedge Paladin Design Offices FII, fund administradopelaHedgeInvestment.\u003C\u002Fp>\u003Cp>O projeto encontra-se em fase inicial, com contenções, escavação e fundaçõesconcluídas.\u003C\u002Fp>\u003Cp>Durationde 4,2anos\u003C\u002Fp>\u003Ch3>HGRU11 Makro (21L06665\u003C\u002Fh3>\u003Cp>IPCA + 7,00\u003C\u002Fp>\u003Cp>AoperaçãocontacomAFe CF dos10imóveislocadosparaas RedesMineirã e Atacadão;\u003C\u002Fp>\u003Cp>Os imóveis lastro da operação são lojas de varejo em praças principal do sudeste brasileir\u003C\u002Fp>\u003Cp>De acordo com último laudo, os imóveis totalizam R$ 180,4 mil garantia, fazendo com que o LTV atual seja de 44\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F15069\u002Fpage_8_image_20.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F15069\u002Fpage_8_image_21.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F15069\u002Fpage_8_image_22.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F15069\u002Fpage_8_image_23.jpg\">\u003C\u002Fp>\u003Ch3>HSI Logística (22J0978863\u003C\u002Fh3>\u003Cp>IPCA + 7,15\u003C\u002Fp>\u003Cp>Operaçãobaseadana aquisiçãode um galpãologísticoem Manaus- AMpelo HSLG11.\u003C\u002Fp>\u003Cp>O ativo conta com um contratoatípico do tipo BTS (\"Built to Suit\") com a varejistaBemolcomprazode 15anos.\u003C\u002Fp>\u003Cp>• A operação conta com garantias de AF do Imóvel,CF dos Recebíveise Contrato complementardo Galpão de São José dos Pinhais - Rec Log amazonase RatingBBBpelaAustin(Outubro\u002F23).\u003C\u002Fp>\u003Ch3>Jaraguá do Sul (13F005698\u003C\u002Fh3>\u003Cp>IPCA + 7,15\u003C\u002Fp>\u003Cp>Osrecursoscaptadosfinanciarama expansãodoshoppinge a construçãoda torrecomercial,adicionando12.500m² deABL.\u003C\u002Fp>\u003Cp>O GrupoPartage, atual controlador,encerrou 2023com 14shoppingsem operação,2emconstruçãoe 508milm² deABL.\u003C\u002Fp>\u003Cp>As garantiasenvolvemCF de recebíveisdo shoppinge de dois andaresda torrecomercial,AF das ações do shoppinge do imóvel,além de fiança dos controladore.\u003C\u002Fp>\u003Ch3>JFL Living (23I169656\u003C\u002Fh3>\u003Cp>IPCA + 7,20\u003C\u002Fp>\u003Cp>A operação tem como risco o Grupo JFL Living cujo maior acionista e controladoré o JorgeFilipeLemann.\u003C\u002Fp>\u003Cp>Os empreendimentoslastro são 2 imóveis residenciais de alto padrã localizadosna cidade de São Paulo com valor estimadopor laudo de R$ 142mm.\u003C\u002Fp>\u003Cp>O CRI contacom a AF e CF das unidades,o papeltem ICSDpróximode 0,8x apósfinalda carênciadejurose principa.\u003C\u002Fp>\u003Ch3>Leo Madeiras (22A069914\u003C\u002Fh3>\u003Cp>IPCA + 7,00\u003C\u002Fp>\u003Cp>Operaçãolastreada nos recebíveisdo contratode locação atípico de um galpão logísticoAAAem Barueri com a Leo Madeiras,empresafocada na distribuiçãode insumospara marcenariae para a indústriade móveis,que hojecontacom mais de 109lojas e 15.000 itensofertados. O LTVinicialé de 65%,lock-upde 2anos\u003C\u002Fp>\u003Cp>• GarantiasincluemAFde imóvele fiançadogrupoLP Bens.\u003C\u002Fp>\u003Cp>• Aoperaçãopossuiatualmente52,0%de LTV.\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F15069\u002Fpage_9_image_23.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F15069\u002Fpage_9_image_24.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F15069\u002Fpage_9_image_25.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F15069\u002Fpage_9_image_26.jpg\">\u003C\u002Fp>\u003Ch3>Lote 5 (22J031126\u003C\u002Fh3>\u003Cp>IPCA + 10,0\u003C\u002Fp>\u003Cp>Operaçãoestruturada envolvendoa emissão de Certificadode Recebívei Imobiliários(CRI)comlastroemumaCCIbaseadanas escriturasdecomprae venda de 2 terrenos localizados em São Paulo, nos bairros Vila Nov Conceiçãoe Moema,nosquaisserãodesenvolvidosprojetosresidenciaispela incorporadoraLote5.\u003C\u002Fp>\u003Cp>• Prazode 48meses\u003C\u002Fp>\u003Ch3>MontreconScene(22G070149\u003C\u002Fh3>\u003Cp>CDI+ 4,00%\u003C\u002Fp>\u003Cp>Operação de financiamentode incorporação imobiliária residencial do projetoScene, localizadonobairroVilaMarianaem São Paulo,dispondode 76 unidadescomplantasde22m² a 57m².\u003C\u002Fp>\u003Cp>• A dívida possui alienação fiduciária do terreno, cessão fiduciária dos recebíveis,alienaçãodas quotasda SPE e avaldossóciosPF e PJ.\u003C\u002Fp>\u003Cp>A V2 atuoucomoestruturadorada operação,financiandoo empreendimen emtranchesmensais,comtetoem R$ 15.000.000,00\u003C\u002Fp>\u003Ch3>Sanema(22G070149\u003C\u002Fh3>\u003Cp>IPCA + 7,80\u003C\u002Fp>\u003Cp>ASANEMAé umaSPE quetemumcontratode locaçãode ativoscoma CASA (companhiadeáguase saneamentodeAlagoas).\u003C\u002Fp>\u003Cp>Ela tem por objeto social a locação de bens imóveis e equipamento componentesdoSistemade EsgotamentoSanitário.\u003C\u002Fp>\u003Cp>A receitada Sanemaé o aluguelrecebidoda CASAL,oriundodo pagament da produçãode água pela CASALpara a BRK ambiental(concessionáriaque operao sistemadeáguanomunicípio).\u003C\u002Fp>\u003Ch3>TheraCorporate (21G006325\u003C\u002Fh3>\u003Cp>IPCA + 7,40\u003C\u002Fp>\u003Cp>A operaçãoconstacom5 andaresdo TheraCorporate,edifícioAAA,localizad em São Paulona regiãoda Av. Berrini. Possuilastroem Cessãodos Crédito Imobiliários(CCI).\u003C\u002Fp>\u003Cp>• Oempreendimentoatualmentepossuirazãode NOIx PMTem 1,6x;\u003C\u002Fp>\u003Cp>O ativo está 100% locado, dividido em 7 locatários e Prazo Médi Remanescentedoscontratosde49meses;\u003C\u002Fp>\u003Cp>• Durationde $7 . 4$ anose prazode20anos\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F15069\u002Fpage_10_image_23.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F15069\u002Fpage_10_image_24.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F15069\u002Fpage_10_image_25.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F15069\u002Fpage_10_image_26.jpg\">\u003C\u002Fp>\u003Cp>CRIs\u003C\u002Fp>\u003Ch3>Vila XP (21D045664\u003C\u002Fh3>\u003Cp>IPCA + 8,50%\u003C\u002Fp>\u003Cp>O CRI possui como lastro uma debênture imobiliáriaemitida pela XP Investimentos. A garantiada debêntureera o próprioterrenodo imóvelque seriaconstruídoemSãoRoque– SP,masquefoirevendidoem2024.\u003C\u002Fp>\u003Cp>Hojea operaçãotemcomorisco a própriaXP,de formaqueos resultadosdo grupotornama operaçãomuitoconfortáve.\u003C\u002Fp>\u003Cp>Em relatóriodivulgadono mês de Fevereiro\u002F2025a S&P reiterouo ratingda operaçãocombrAA.\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F15069\u002Fpage_11_image_8.jpg\">\u003C\u002Fp>\u003Ch3>SAIBA MAIS SOBRE A V\u003C\u002Fh3>\u003Ch3>NOSSOS NÚMERO\u003C\u002Fh3>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F15069\u002Fpage_12_image_4.jpg\">\u003C\u002Fp>\u003Cp>5 FIIs listado\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F15069\u002Fpage_12_image_6.jpg\">\u003C\u002Fp>\u003Cp>+50.000 investidores em FIIs lista\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F15069\u002Fpage_12_image_8.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F15069\u002Fpage_12_image_9.jpg\">\u003C\u002Fp>\u003Cp>VVCO1\u003C\u002Fp>\u003Cp>10 Fundos sob gestã\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F15069\u002Fpage_12_image_12.jpg\">\u003C\u002Fp>\u003Cp>VVMR1\u003C\u002Fp>\u003Ch3>V2 EDIFÍCIOS CORPORATIVOS\u003C\u002Fh3>\u003Cp>V2 MULTI RENDA F\u003C\u002Fp>\u003Cp>• Estratégia:\u003C\u002Fp>\u003Cp>Corporativ\u003C\u002Fp>\u003Cp>• Gestão:\u003C\u002Fp>\u003Cp>Ativa\u003C\u002Fp>\u003Cp>• Estratégia:\u003C\u002Fp>\u003Cp>Corporativ\u003C\u002Fp>\u003Cp>• Gestão:\u003C\u002Fp>\u003Cp>• ABL própria\u003C\u002Fp>\u003Cp>14.422,56 ²\u003C\u002Fp>\u003Cp>Ativa\u003C\u002Fp>\u003Cp>• ABL própria\u003C\u002Fp>\u003Cp>28.104,37 ²\u003C\u002Fp>\u003Cp>• Patrimônio:\u003C\u002Fp>\u003Cp>R$145,96 milhõ\u003C\u002Fp>\u003Cp>• Cotistas:\u003C\u002Fp>\u003Cp>2.582\u003C\u002Fp>\u003Cp>• Patrimônio:\u003C\u002Fp>\u003Cp>R$299,81 milhõ\u003C\u002Fp>\u003Cp>Cotistas: 585\u003C\u002Fp>\u003Cp>Dados de 30\u002F09\u002F202\u003C\u002Fp>\u003Cp>Dados de 30\u002F09\u002F202\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F15069\u002Fpage_12_image_37.jpg\">\u003C\u002Fp>\u003Cp>VPPR1\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F15069\u002Fpage_12_image_39.jpg\">\u003C\u002Fp>\u003Cp>VVRI1\u003C\u002Fp>\u003Cp>V2 PRIME PROPERTIE\u003C\u002Fp>\u003Cp>V2 RENDA IMOBILIÁRIA F\u003C\u002Fp>\u003Cp>Estratégia: Híbrid\u003C\u002Fp>\u003Cp>Estratégia:\u003C\u002Fp>\u003Cp>Ativa\u003C\u002Fp>\u003Cp>• Gestão:\u003C\u002Fp>\u003Cp>Renda Urban\u003C\u002Fp>\u003Cp>• Gestão:\u003C\u002Fp>\u003Cp>Ativa\u003C\u002Fp>\u003Cp>• ABL própria:\u003C\u002Fp>\u003Cp>52.980 m²\u003C\u002Fp>\u003Cp>• ABL própria\u003C\u002Fp>\u003Cp>10.080,44 m²\u003C\u002Fp>\u003Cp>• Patrimônio:\u003C\u002Fp>\u003Cp>R$290,27 milhõ\u003C\u002Fp>\u003Cp>• Patrimônio:\u003C\u002Fp>\u003Cp>35.403\u003C\u002Fp>\u003Cp>R$ 72,67 milhõ\u003C\u002Fp>\u003Cp>• Cotistas:\u003C\u002Fp>\u003Cp>• Cotistas::\u003C\u002Fp>\u003Cp>153\u003C\u002Fp>\u003Cp>Dados de 30\u002F09\u002F20\u003C\u002Fp>\u003Cp>Dados de 30\u002F09\u002F202\u003C\u002Fp>\u003Ch3>V2 RECEBÍVEIS IMOBILIÁRIOS VVCR1\u003C\u002Fh3>\u003Cp>INFORMAÇÕES GERA\u003C\u002Fp>\u003Ctable>\u003Ctr>\u003Ctd>Descrição\u003C\u002Ftd>\u003Ctd rowspan=\"3\">V2 RECEBÍVEIS IMOBILIÁRIOS www.v2investimentos.com.br|ri@v2investimentos.com.br\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Site I RI\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>CNPJ\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Código BOVESPA\u003C\u002Ftd>\u003Ctd rowspan=\"8\">23.120.027\u002F0001-13 WCR11 Fll TVM – Gestão Ativa\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Classificação ANBIMA\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>V2 Investimentos Ltda. Gestor\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Administrador BTG Pactual Serviços Financeiros S.A. DTVM\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Escriturador\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>BTG Pactual Serviços Financeiros S.A. DTVM Público Alvo Investidores em Geral\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd rowspan=\"4\">Objetivo\u003C\u002Ftd>\u003Ctd>0 Fundo foi criado com o objetivo de proporcionar aos cotistas ganho de capital e\u002Fou\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>rentabilidade por meio de investimentos em ativos financeiros de origem imobiliária, como\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Certificados de Recebíveis Imobiliários (CRIs), Letras de Crédito Imobiliário (LCls], cotas de outros\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>fundos de investimento imobiliário (Flls), entre outros. 1,15% a.a. sobre o Patrimônio Líquido do Fundo; Caso o Fundo passe a integrar o lFIX1 ou outro\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Taxa de Administração\u003C\u002Ftd>\u003Ctd>índice de mercado, a taxa será cobrada pelo valor de Mercado do Fundo\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Data de Início\u003C\u002Ftd>\u003Ctd>03\u002F05\u002F2018\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftable>\u003Ch3>V2 RECEBÍVEIS IMOBILIÁRIOS VVCR1\u003C\u002Fh3>\u003Ch3>GLOSSÁRI\u003C\u002Fh3>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>Valor de Mercado\u003C\u002Fth>\u003Cth>Valor da cota no mercado multiplicado por todas as cotas do Fundo;\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>\u003C\u002Ftd>\u003Ctd>Cota Valor de Mercado Valor da cota do mercado secundário na data do fechamento do relatório;\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Valor Patrimonial\u003C\u002Ftd>\u003Ctd>Valor do patrimônio líquido do fundo (contábil);\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Cota Patrimonial\u003C\u002Ftd>\u003Ctd>Representação do valor financeiro de uma cota dentro do patrimônio líquido do Fundo;\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Rendimentos\u003C\u002Ftd>\u003Ctd>Correspondente a distribuição dos ganhos com rendimentos de uma cota;\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Dividend Yield\u003C\u002Ftd>\u003Ctd>Termo em inglês que representa a rentabilidade dos dividendos pagos aos cotistas do Fundo Calculado pela divisão do rendimento anualizado sobre a Cota Valor de Mercado.\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Retorno Mensal\u003C\u002Ftd>\u003Ctd>Retorno considerando o ganho de capital e rendimentos distribuídos no mês.\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>ABL\u003C\u002Ftd>\u003Ctd>Abreviação de Área Bruta Locável. Refere-se ao espaço total na parte interna de um edifício que pode ser destinado à locação;\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Vacância Física\u003C\u002Ftd>\u003Ctd>Corresponde a porcentagem da área bruta locável vaga em m² em relação à área bruta locável total do fundo;\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>IFIX\u003C\u002Ftd>\u003Ctd>Indicador de desempenho médio das cotações dos Fundos Imobiliários negociados nos mercados de bolsa e balcão organizados da B3.\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>","https:\u002F\u002Fwww.kartac.com.br\u002Fapi\u002Ffiis\u002FVVCR11\u002Fdocumentos\u002F15069\u002Fpdf",false,"https:\u002F\u002Ffnet.bmfbovespa.com.br\u002Ffnet\u002Fpublico\u002FdownloadDocumento?id=1102853","2025-12-31","2026-02-05 16:51:00",1,{"title":17,"description":18,"canonical":19,"image":20,"json_ld":21,"nome":46,"resumo":88},"Relatório Gerencial VVCR11 de dezembro de 2025 | Kartac","Relatório Gerencial de dezembro de 2025 do VVCR11 (V2 Recebíveis Imobiliários), entrega em 05\u002F02\u002F2026. DY 12 meses de 14,15% e P\u002FVP 0,78 em 04\u002F11\u002F2026.","https:\u002F\u002Fwww.kartac.com.br\u002Fdetalhes\u002FVVCR11\u002Fdocumentos\u002F15069","https:\u002F\u002Fwww.kartac.com.br\u002Fimages\u002Fog.png",{"@context":22,"@graph":23},"https:\u002F\u002Fschema.org",[24,30,35,44,59,74],{"@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\u002FVVCR11\u002Fdocumentos\u002F15069#pagina",{"@id":32},"2026-11-02",{"@id":41},"https:\u002F\u002Fwww.kartac.com.br\u002Fdetalhes\u002FVVCR11\u002Fdocumentos\u002F15069#documento",{"@id":43},"https:\u002F\u002Fwww.kartac.com.br\u002Fdetalhes\u002FVVCR11\u002Fdocumentos\u002F15069#migalhas",{"@type":45,"@id":41,"name":46,"alternateName":5,"url":19,"inLanguage":33,"about":47,"genre":7,"datePublished":49,"temporalCoverage":50,"author":51,"publisher":57,"isBasedOn":12},"Report","Relatório Gerencial VVCR11 de dezembro de 2025",{"@id":48},"https:\u002F\u002Fwww.kartac.com.br\u002Fdetalhes\u002FVVCR11#fundo","2026-02-05","2025-12",{"@type":25,"name":52,"identifier":53},"V2 INVESTIMENTOS LTDA",{"@type":54,"propertyID":55,"value":56},"PropertyValue","CNPJ","13.601.663\u002F0001-03",{"@type":25,"name":58},"BTG PACTUAL SERVICOS FINANCEIROS S.A. DISTRIBUIDOR",{"@type":60,"@id":48,"name":61,"alternateName":62,"url":65,"category":66,"identifier":67,"provider":72},"InvestmentFund","V2 Recebíveis Imobiliários",[63,64],"VVCR11","V2 RECEBÍVEIS IMOBILIÁRIOS FUNDO DE INVESTIMENTO IMOBILIÁRIO RESPONSABILIDADE LIMITADA","https:\u002F\u002Fwww.kartac.com.br\u002Fdetalhes\u002FVVCR11","Papel",[68,70],{"@type":54,"propertyID":69,"value":63},"Ticker B3",{"@type":54,"propertyID":55,"value":71},"23.120.027\u002F0001-13",{"@type":25,"name":52,"identifier":73},{"@type":54,"propertyID":55,"value":56},{"@type":75,"@id":43,"itemListElement":76},"BreadcrumbList",[77,80,84,86],{"@type":78,"position":15,"name":79,"item":28},"ListItem","Início",{"@type":78,"position":81,"name":82,"item":83},2,"FIIs","https:\u002F\u002Fwww.kartac.com.br\u002Franking",{"@type":78,"position":85,"name":63,"item":65},3,{"@type":78,"position":87,"name":5,"item":19},4,{"atualizado_em":89,"frases":90},"2026-11-05",[91,92,93,94,95],"Relatório Gerencial do V2 Recebíveis Imobiliários (VVCR11), fundo imobiliário de papel, referente a dezembro de 2025, com entrega no FundosNet (B3) em 05\u002F02\u002F2026.","No pregão de 04\u002F11\u002F2026, a cota do VVCR11 fechou a R$ 8,11, com P\u002FVP de 0,78 (valor patrimonial de R$ 10,36 por cota no informe mensal de setembro de 2026).","O último rendimento foi de R$ 0,09 por cota, com pagamento em out\u002F2026, e o dividend yield dos últimos 12 meses é de 14,15% sobre a cotação de 04\u002F11\u002F2026.","O patrimônio líquido era de R$ 189,4 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":97,"empresa":98,"gestor":102,"cotacoes":108,"patrimonio":212,"vpa":213,"p_vpa":214,"tipo_gestao":215,"mandato":216,"segmento":217,"categoria":66,"grupo":66,"preco_atual":202,"cotacao_atualizada_em":218,"ultima_variacao_cotacao_24h":219,"variacao_cotacao_7d":220,"variacao_cotacao_1m":221,"variacao_cotacao_3m":222,"variacao_cotacao_6m":223,"variacao_cotacao_12m":224,"vacancia_fisica":216,"liquidez_atual":225,"ultimo_dividendo":226,"ultimo_dividend_yield":227,"mes_pagamento_ultimo_dividendo":228,"dividend_yield_3m":229,"dividend_yield_6m":230,"dividend_yield_12m":231,"dividend_yield_medio_12m":232,"qtd_dividendos_pagos_ano_passado":233,"data_ultima_cotacao":210,"pregoes_com_negocio_21":234,"alertas":235,"updated_at":236,"liquidez_media_reais":237,"administrador":58,"taxa_administracao_paga":238,"balanco":239,"resultado_distribuido":245,"publico_alvo":250,"mercados_negociacao_cotas":251,"data_funcionamento":253,"data_final":216,"quantidade_cotas":254,"quantidade_cotistas":255,"detalhes_cotistas":256,"total_investido":259,"investimentos_fundo":260,"imoveis":263,"contratos":216,"custodiante":265,"auditor_independente":272,"formador_mercado":216,"distribuidor_cotas":216,"consultor_especializado":216,"administrador_locacoes":216,"relatorio_anual":279,"analise_administrador":282},373,{"nome":64,"nome_simplificado":99,"nome_comercial":61,"ticker":63,"nome_ticker":100,"nome_pregao":101,"cnpj":71},"V2 RECEBÍVEIS IMOBILIÁRIOS  RESPONSABILIDADE LIMITADA","VVCR11 - 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BOTAFOGO, RIO DE JANEIRO - RJ - 22250-911","(21) 32629600","2026-10-03T18:47:06.000000Z",{"id":273,"nome":274,"cnpj":275,"endereco":276,"telefone":277,"created_at":278,"updated_at":278},24,"ERNST & YOUNG AUDITORES INDEPENDENTES S\u002FS LTDA","61366936000125","AV PRESIDENTE JUSCELINO KUBITSCHEK 1909, SP CORP TOWER TORRE NORTE ANDAR 8 CONJ 81 – VILA NOVA CONCEIÇÃO – SÃO PAULO\u002FSP – 04.543-907","(11) 2573-3000","2026-10-03T18:51:30.000000Z",{"ano_referencia":280,"data_disponibilizacao":281},"2025","2026-03-30",{"ResultadoFundo":283,"ConjunturaEconomica":284,"PerspectivaPeriodoSeguinte":285},"O Fundo encerrou o exercício social em linha com sua estratégia de investimentos, conforme detalhado no informe mensal de dezembro de 2025. ","Em 2025, o mercado imobiliário brasileiro apresentou um crescimento moderado, influenciado por juros ainda elevados, que limitaram o crédito, enquanto a demanda seguiu aquecida em função de políticas públicas, valorização dos imóveis acima da inflação e maior interesse dos compradores.","As perspectivas para 2026 apontam um mercado imobiliário ainda positivo, com tendência de aquecimento moderado, impulsionado sobretudo pela provável queda da Selic, maior acesso ao crédito e continuidade da demanda."]