[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"documento:ZAVC11:4009":3,"seo:\u002Fdetalhes\u002FZAVC11\u002Fdocumentos\u002F4009":16,"fii-documento:ZAVC11":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},4009,"(ZAVC) Relatório Gerencial - 30\u002F06\u002F2026","Relatório Gerencial","Relatórios","(Ativo)","\u003Ch3>ZAVIT\u002FcAPITAL\u003C\u002Fh3>\u003Ch3>Zavit Crédito Imobiliário | ZAVC11\u003C\u002Fh3>\u003Cp>Relatório Gerencial Junho de 2026\u003C\u002Fp>\u003Ch3>Objetivo e Perfil do Fundo\u003C\u002Fh3>\u003Cp>O fundo tem como objetivo a obtenção de renda e ganho de capital mediante investimento em ativos de renda fixa de caráter imobiliário, em especial os Certificados de Recebíveis Imobiliários (CRI).\u003C\u002Fp>\u003Cp>O fundo busca operações oportunísticas com boas métricas de \u003Cstrong>retorno ajustado ao risco,\u003C\u002Fstrong> priorizando a estruturação e alocações em operações no mercado primário.\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F4009\u002Fpage_1_image_6.jpg\">\u003C\u002Fp>\u003Ch3>Dados Gerais\u003C\u002Fh3>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>Encerramento 1º Oferta: 20\u002F03\u002F2024\u003C\u002Fth>\u003Cth>Patrimônio Líquido: R$ 35.826.708,49\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>Administradora: Vórtx DTVM\u003C\u002Ftd>\u003Ctd>Valor Patrimonial da Cota¹: R$ 10,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Gestora: Zavit Gestão de Recursos LTDA\u003C\u002Ftd>\u003Ctd>Valor de Mercado do Fundo: R$ 32.385.085,84\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Código de Negociação: ZAVC11\u003C\u002Ftd>\u003Ctd>Valor de Mercado da Cota²: R$ 9,04\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Periodicidade de Rendimentos: Mensal\u003C\u002Ftd>\u003Ctd>Dividendo do mês: R$ 0,13 \u002F cota\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Quantidade de Emissões: 2\u003C\u002Ftd>\u003Ctd>Dividend Yield³: 16,8% a.a.\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Taxa de Performance: 20% do excedente de IPCA + 6% a.a.\u003C\u002Ftd>\u003Ctd>Taxa de Adm\u002FGestão: 1,25% a.a.\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Nº de Cotistas\u003C\u002Ftd>\u003Ctd>Prazo do Fundo\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>841\u003C\u002Ftd>\u003Ctd>Indeterminado\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>\u003Cstrong>Rendimentos:\u003C\u002Fstrong> No dia 30\u002F06, o fundo comunicou a distribuição de rendimentos equivalentes a \u003Cstrong>R$ 0,13\u002Fcota\u003C\u002Fstrong>, provisionados para pagamento no dia 13\u002F07. Esse valor equivale a um dividend yield de 1,3% a.m. e anualizado de 16,8% a.a.\u003C\u002Fp>\u003Cp>\u003Cstrong>Destaques:\u003C\u002Fstrong> As operações com atualização atrelada ao IPCA apresentaram um bom resultado no mês, visto que o IPCA de abril¹ foi de 0,67%. As operações de \u003Cstrong>CRI Balaroti, CRI Comporte, CRI Bralar e CRI Marca Brasil\u003C\u002Fstrong> seguiram com a amortização ordinária de R$ 67 mil, R$ 93 mil, R$ 54 mil e R$ 79 mil, respectivamente. Os \u003Cstrong>CRI Ariatam e CRI Moov\u003C\u002Fstrong> apresentaram amortização extraordinária de R$ 226 mil e R$ 123 mil.\u003C\u002Fp>\u003Cp>\u003Cstrong>Movimentações - Vendas :\u003C\u002Fstrong> O CRI JL 272 foi vendido com ganho de capital gerando a seguinte performance para o Fundo:\u003C\u002Fp>\u003Cp>\u003Cstrong>CRI\u003C\u002Fstrong> CRI JL 272\u003C\u002Fp>\u003Cp>6 meses\u003C\u002Fp>\u003Cp>\u003Cstrong>Prazo na Carteira TIR a.a. % CDI (com gross-up)\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>21,1%\u003C\u002Fp>\u003Cp>144%\u003C\u002Fp>\u003Cp>\u003Cstrong>Taxa média de aquisição\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>CDI + 4,25%\u003C\u002Fp>\u003Cp>\u003Cstrong>Movimentações - Compras:\u003C\u002Fstrong> O Fundo finalizou o processo de estruturação e alocação em CRI de término de obra focado em dois empreendimento residenciais bem vendidos localizados em SP, capital. O CRI será remunerado a CDI + 4%, conta com pacote completo de garantias, além de uma série subordinada que foi integralizada pelos sócios da incorporadora.\u003C\u002Fp>\u003Cp>\u003Cstrong>Movimentação\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cstrong>Papel\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>Compra\u003C\u002Fp>\u003Cp>\u003Cstrong>Taxa de Aquisição\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>CRI Chaincorp\u003C\u002Fp>\u003Cp>CDI + 4,00% a.a.\u003C\u002Fp>\u003Cp>\u003Cstrong>Volume (R$ Milhões)\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>R$ 3,5\u003C\u002Fp>\u003Cp>\u003Cstrong>Atualizações Portfólio - CRI Felicita:\u003C\u002Fstrong> A obra encontra-se em fase final para emissão de Habite-se. Considerando que o relatório do Agente de Medição terceiro não estava representando de forma fidedigna os avanços físicos da obra, foi deliberado em assembleia a troca do Agente de Medição. O Novo Agente de Medição apresentou os números atualizados do avanço físico de obra, bem como da nova previsão de entrega do empreendimento. As referidas atualização estão descritas nos detalhes da operação do slide “Portfólio”.\u003C\u002Fp>\u003Cp>¹As operações atreladas ao IPCA são corrigidas pelo índice defasado em dois meses.\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F4009\u002Fpage_2_image_24.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F4009\u002Fpage_3_chart_0.jpg\">\u003C\u002Fp>\u003Cp>\u003Cstrong>Informações Financeiras ZAVC11\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>[R$ milhares]\u003C\u002Fp>\u003Cp>Demonstração de Resultados\u003C\u002Fp>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>Demonstração de Resultados\u003C\u002Fth>\u003Cth>jun\u002F26\u003C\u002Fth>\u003Cth>jun\u002F26R$\u002Fcota¹\u003C\u002Fth>\u003Cth>Acum. 1S 2026\u003C\u002Fth>\u003Cth>Acum. 1S 2026 R$\u002Fcota¹\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>Receita CRIs\u003C\u002Ftd>\u003Ctd>534\u003C\u002Ftd>\u003Ctd>0,15\u003C\u002Ftd>\u003Ctd>2.682\u003C\u002Ftd>\u003Ctd>0,75\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Juros\u003C\u002Ftd>\u003Ctd>414\u003C\u002Ftd>\u003Ctd>0,12\u003C\u002Ftd>\u003Ctd>2.188\u003C\u002Ftd>\u003Ctd>0,61\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Correção Monetária\u003C\u002Ftd>\u003Ctd>90\u003C\u002Ftd>\u003Ctd>0,03\u003C\u002Ftd>\u003Ctd>411\u003C\u002Ftd>\u003Ctd>0,11\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Taxa de Estruturação\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003Ctd>70\u003C\u002Ftd>\u003Ctd>0,02\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Mercado Secundário\u002FOutros\u003C\u002Ftd>\u003Ctd>31\u003C\u002Ftd>\u003Ctd>0,01\u003C\u002Ftd>\u003Ctd>13\u003C\u002Ftd>\u003Ctd>0,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Receitas Financeira\u003C\u002Ftd>\u003Ctd>34\u003C\u002Ftd>\u003Ctd>0,01\u003C\u002Ftd>\u003Ctd>354\u003C\u002Ftd>\u003Ctd>0,10\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Despesas - Total\u003C\u002Ftd>\u003Ctd>(60)\u003C\u002Ftd>\u003Ctd>(0,02)\u003C\u002Ftd>\u003Ctd>(288)\u003C\u002Ftd>\u003Ctd>(0,08)\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Despesas Operacionais\u003C\u002Ftd>\u003Ctd>(38)\u003C\u002Ftd>\u003Ctd>(0,01)\u003C\u002Ftd>\u003Ctd>(236)\u003C\u002Ftd>\u003Ctd>(0,07)\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Outras Despesas\u003C\u002Ftd>\u003Ctd>(22)\u003C\u002Ftd>\u003Ctd>(0,01)\u003C\u002Ftd>\u003Ctd>(52)\u003C\u002Ftd>\u003Ctd>(0,01)\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Resultado Operacional\u003C\u002Ftd>\u003Ctd>509\u003C\u002Ftd>\u003Ctd>0,14\u003C\u002Ftd>\u003Ctd>2.748\u003C\u002Ftd>\u003Ctd>0,77\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Resultado Operacional (Não Caixa)\u003C\u002Ftd>\u003Ctd>0\u003C\u002Ftd>\u003Ctd>0,00\u003C\u002Ftd>\u003Ctd>0\u003C\u002Ftd>\u003Ctd>0,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Resultado Distribuído\u003C\u002Ftd>\u003Ctd>466\u003C\u002Ftd>\u003Ctd>0,13\u003C\u002Ftd>\u003Ctd>2.687\u003C\u002Ftd>\u003Ctd>0,75\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Reserva de Lucro + Correção²\u003C\u002Ftd>\u003Ctd>43\u003C\u002Ftd>\u003Ctd>0,01\u003C\u002Ftd>\u003Ctd>350\u003C\u002Ftd>\u003Ctd>0,10³\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>Distribuições de Dividendos\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F4009\u002Fpage_4_chart_8.jpg\">\u003C\u002Fp>\u003Cp>Fonte: Zavit Capital e Administrador. ¹Cálculos por cota consideram 3.582.421 cotas. ²Reserva de lucro do somado com a correção acumulada dos CRIs e LCIs. ³Considera R$ 0,08\u002Fcota de reservas dos semestres anteriores.\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F4009\u002Fpage_5_chart_0.jpg\">\u003C\u002Fp>\u003Ch3>Composição da Carteira\u003C\u002Fh3>\u003Ctable>\u003Ctbody>\u003Ctr>\u003Ctd>Ativo\u003C\u002Ftd>\u003Ctd>Código IF\u003C\u002Ftd>\u003Ctd>Nome\u003C\u002Ftd>\u003Ctd>Segmento\u003C\u002Ftd>\u003Ctd>Indexador\u003C\u002Ftd>\u003Ctd>Taxa de Aquisição\u003C\u002Ftd>\u003Ctd>Série\u003C\u002Ftd>\u003Ctd>Região\u003C\u002Ftd>\u003Ctd colspan=\"2\">Exposição % (R$ mil) Carteira\u003C\u002Ftd>\u003Ctd>LTV\u003C\u002Ftd>\u003Ctd>Duration (anos)\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>CRI\u003C\u002Ftd>\u003Ctd>26C3493147\u003C\u002Ftd>\u003Ctd>Bralar\u003C\u002Ftd>\u003Ctd>Construção\u003C\u002Ftd>\u003Ctd>CDI\u003C\u002Ftd>\u003Ctd>6,00%\u003C\u002Ftd>\u003Ctd>Única\u003C\u002Ftd>\u003Ctd>MG\u003C\u002Ftd>\u003Ctd>6.724\u003C\u002Ftd>\u003Ctd>18,2%\u003C\u002Ftd>\u003Ctd>31%\u003C\u002Ftd>\u003Ctd>2,7\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>CRI\u003C\u002Ftd>\u003Ctd>23I1270600\u003C\u002Ftd>\u003Ctd>Comporte\u003C\u002Ftd>\u003Ctd>Transporte\u003C\u002Ftd>\u003Ctd>CDI\u003C\u002Ftd>\u003Ctd>3,62%\u003C\u002Ftd>\u003Ctd>Única\u003C\u002Ftd>\u003Ctd>SP\u003C\u002Ftd>\u003Ctd>6.167\u003C\u002Ftd>\u003Ctd>16,7%\u003C\u002Ftd>\u003Ctd>50%\u003C\u002Ftd>\u003Ctd>2,0\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>CRI\u003C\u002Ftd>\u003Ctd>24C2248334\u003C\u002Ftd>\u003Ctd>Felicitá\u003C\u002Ftd>\u003Ctd>Incorporação\u003C\u002Ftd>\u003Ctd>IPCA\u003C\u002Ftd>\u003Ctd>12,34%\u003C\u002Ftd>\u003Ctd>Única\u003C\u002Ftd>\u003Ctd>SP\u003C\u002Ftd>\u003Ctd>4.133\u003C\u002Ftd>\u003Ctd>11,2%\u003C\u002Ftd>\u003Ctd>51%\u003C\u002Ftd>\u003Ctd>0,9\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>CRI\u003C\u002Ftd>\u003Ctd>26C6324469\u003C\u002Ftd>\u003Ctd>Chaincorp\u003C\u002Ftd>\u003Ctd>Incorporação\u003C\u002Ftd>\u003Ctd>CDI\u003C\u002Ftd>\u003Ctd>4,00%\u003C\u002Ftd>\u003Ctd>Sênior\u003C\u002Ftd>\u003Ctd>SP\u003C\u002Ftd>\u003Ctd>3.510\u003C\u002Ftd>\u003Ctd>9,5%\u003C\u002Ftd>\u003Ctd>72%\u003C\u002Ftd>\u003Ctd>1,7\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>CRI\u003C\u002Ftd>\u003Ctd>26E2924725\u003C\u002Ftd>\u003Ctd>Marca Brasil\u003C\u002Ftd>\u003Ctd>Giro de Estoque\u003C\u002Ftd>\u003Ctd>IPCA\u003C\u002Ftd>\u003Ctd>14,98%\u003C\u002Ftd>\u003Ctd>Única\u003C\u002Ftd>\u003Ctd>MG\u003C\u002Ftd>\u003Ctd>2.780\u003C\u002Ftd>\u003Ctd>7,5%\u003C\u002Ftd>\u003Ctd>53%\u003C\u002Ftd>\u003Ctd>1,3\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>CRI\u003C\u002Ftd>\u003Ctd>19J0133907\u003C\u002Ftd>\u003Ctd>Balaroti\u003C\u002Ftd>\u003Ctd>Varejo\u003C\u002Ftd>\u003Ctd>CDI\u003C\u002Ftd>\u003Ctd>2,99%\u003C\u002Ftd>\u003Ctd>Única\u003C\u002Ftd>\u003Ctd>PR\u003C\u002Ftd>\u003Ctd>2.689\u003C\u002Ftd>\u003Ctd>7,3%\u003C\u002Ftd>\u003Ctd>48%\u003C\u002Ftd>\u003Ctd>1,5\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>CRI\u003C\u002Ftd>\u003Ctd>25J2605770\u003C\u002Ftd>\u003Ctd>Impegno\u003C\u002Ftd>\u003Ctd>Incorporação\u003C\u002Ftd>\u003Ctd>IPCA\u003C\u002Ftd>\u003Ctd>13,50%\u003C\u002Ftd>\u003Ctd>Única\u003C\u002Ftd>\u003Ctd>SC\u003C\u002Ftd>\u003Ctd>2.107\u003C\u002Ftd>\u003Ctd>5,7%\u003C\u002Ftd>\u003Ctd>62%\u003C\u002Ftd>\u003Ctd>1,6\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>CRI\u003C\u002Ftd>\u003Ctd>24H1453741\u003C\u002Ftd>\u003Ctd>Ariatam\u003C\u002Ftd>\u003Ctd>Incorporação\u003C\u002Ftd>\u003Ctd>IPCA\u003C\u002Ftd>\u003Ctd>12,98%\u003C\u002Ftd>\u003Ctd>Única\u003C\u002Ftd>\u003Ctd>SP\u003C\u002Ftd>\u003Ctd>1.719\u003C\u002Ftd>\u003Ctd>4,7%\u003C\u002Ftd>\u003Ctd>20%\u003C\u002Ftd>\u003Ctd>0,9\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>CRI\u003C\u002Ftd>\u003Ctd>22K1448235\u003C\u002Ftd>\u003Ctd>Miríade\u003C\u002Ftd>\u003Ctd>Incorporação\u003C\u002Ftd>\u003Ctd>IPCA\u003C\u002Ftd>\u003Ctd>13,50%\u003C\u002Ftd>\u003Ctd>Única\u003C\u002Ftd>\u003Ctd>SP\u003C\u002Ftd>\u003Ctd>1.091\u003C\u002Ftd>\u003Ctd>3,0%\u003C\u002Ftd>\u003Ctd>27%\u003C\u002Ftd>\u003Ctd>3,6\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>CRI\u003C\u002Ftd>\u003Ctd>25J2612796\u003C\u002Ftd>\u003Ctd>Garden Ville\u003C\u002Ftd>\u003Ctd>Incorporação\u003C\u002Ftd>\u003Ctd>CDI\u003C\u002Ftd>\u003Ctd>6,50%\u003C\u002Ftd>\u003Ctd>Única\u003C\u002Ftd>\u003Ctd>MA\u003C\u002Ftd>\u003Ctd>1.097\u003C\u002Ftd>\u003Ctd>3,0%\u003C\u002Ftd>\u003Ctd>58%\u003C\u002Ftd>\u003Ctd>2,6\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>CRI\u003C\u002Ftd>\u003Ctd>23E1206892\u003C\u002Ftd>\u003Ctd>Moov\u003C\u002Ftd>\u003Ctd>Incorporação\u003C\u002Ftd>\u003Ctd>IPCA\u003C\u002Ftd>\u003Ctd>12,22%\u003C\u002Ftd>\u003Ctd>Única\u003C\u002Ftd>\u003Ctd>MT\u003C\u002Ftd>\u003Ctd>1.083\u003C\u002Ftd>\u003Ctd>2,9%\u003C\u002Ftd>\u003Ctd>47%\u003C\u002Ftd>\u003Ctd>1,6\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Caixa\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>Caixa\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>3.761\u003C\u002Ftd>\u003Ctd>10,2%\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>LCI\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>Caixa Econômica Federal\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>0\u003C\u002Ftd>\u003Ctd>0,0%\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>ATIVO\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>IPCA+ CDI+\u003C\u002Ftd>\u003Ctd>13,32%4,55%\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>36.861\u003C\u002Ftd>\u003Ctd>100%\u003C\u002Ftd>\u003Ctd>47%¹\u003C\u002Ftd>\u003Ctd>1,8¹\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>Instrumento\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F4009\u002Fpage_7_chart_4.jpg\">\u003C\u002Fp>\u003Cp>Indexadores\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F4009\u002Fpage_7_chart_6.jpg\">\u003C\u002Fp>\u003Cp>¹ Considera somente a parcela alocada em CRIs.\u003C\u002Fp>\u003Cp>Distribuição Regional\u003C\u002Fp>\u003Cp>% Carteira¹\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F4009\u002Fpage_7_chart_10.jpg\">\u003C\u002Fp>\u003Ch3>Consolidado\u003C\u002Fh3>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>Sudeste\u003C\u002Fth>\u003Cth>79%\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>Sul\u003C\u002Ftd>\u003Ctd>14%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Centro-Oeste\u003C\u002Ftd>\u003Ctd>3%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Nordeste\u003C\u002Ftd>\u003Ctd>3%\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>Segmento\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F4009\u002Fpage_8_chart_4.jpg\">\u003C\u002Fp>\u003Cp>Securitizadora\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F4009\u002Fpage_8_chart_6.jpg\">\u003C\u002Fp>\u003Cp>Duration\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F4009\u002Fpage_8_chart_8.jpg\">\u003C\u002Fp>\u003Cp>¹ Considera somente a parcela alocada em CRIs.\u003C\u002Fp>\u003Cp>Loan to Value (LTV)\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F4009\u002Fpage_8_chart_11.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F4009\u002Fpage_9_chart_0.jpg\">\u003C\u002Fp>\u003Ch3>Portfólio ZAVC11\u003C\u002Fh3>\u003Ch3>CRI Bralar\u003C\u002Fh3>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F4009\u002Fpage_10_image_3.jpg\">\u003C\u002Fp>\u003Ch3>CRI Comporte\u003C\u002Fh3>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F4009\u002Fpage_10_image_5.jpg\">\u003C\u002Fp>\u003Ch3>CRI Felicitá\u003C\u002Fh3>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F4009\u002Fpage_10_image_7.jpg\">\u003C\u002Fp>\u003Cp>Disclaimer: Os valores dos indicadores de obra e vendas são atualizados com base nos relatórios mais recentes dos servicers.\u003C\u002Fp>\u003Cp>\u003Cstrong>Taxa\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>CDI + 6,00%\u003C\u002Fp>\u003Cp>\u003Cstrong>Segmento\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cstrong>%PL\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>Construção\u003C\u002Fp>\u003Cp>18,2%\u003C\u002Fp>\u003Cp>\u003Cstrong>Duration\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cstrong>LTV\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>2,7 anos\u003C\u002Fp>\u003Cp>31%\u003C\u002Fp>\u003Cp>\u003Cstrong>Taxa\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>CDI + 3,62%\u003C\u002Fp>\u003Ch3>Segmento\u003C\u002Fh3>\u003Cp>\u003Cstrong>%PL\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>Transporte\u003C\u002Fp>\u003Cp>16,7%\u003C\u002Fp>\u003Cp>\u003Cstrong>Duration\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>2,0 anos\u003C\u002Fp>\u003Cp>\u003Cstrong>LTV\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>50%\u003C\u002Fp>\u003Cp>\u003Cstrong>Taxa\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>IPCA + 12,34%\u003C\u002Fp>\u003Cp>\u003Cstrong>Segmento\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>Incorporação\u003C\u002Fp>\u003Cp>\u003Cstrong>%PL\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>11,2%\u003C\u002Fp>\u003Cp>\u003Cstrong>Duration\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>0,9 anos\u003C\u002Fp>\u003Cp>\u003Cstrong>LTV\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>51%\u003C\u002Fp>\u003Cp>CRI corporativo para a Construtora Probase (Bralar), construtora e incorporadora com mais de 45 anos de mercado, tendo realizado mais de 150 empreendimentos MCMV e entregue mais de 15 mil unidades.\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F4009\u002Fpage_10_image_40.jpg\">\u003C\u002Fp>\u003Cp>A operação conta com a alienação fiduciária de imóveis, cessão fiduciária de recebíveis pró-soluto, aval dos sócios e fundos de reserva.\u003C\u002Fp>\u003Cp>\u003Cstrong>N\u002FA\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>CRI corporativo para a Viação Piracicaba, controlada do Grupo Comporte. O grupo atua no setor de transporte de passageiros por vias terrestres e sobre trilhos e transporte de encomendas.\u003C\u002Fp>\u003Cp>A operação conta com a alienação fiduciária de 12 imóveis, cujo valor de avaliação é de R$ 234 milhões, a cessão fiduciária de contratos de locação e aval da Comporte Participações S.A.\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F4009\u002Fpage_10_image_45.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F4009\u002Fpage_10_image_46.jpg\">\u003C\u002Fp>\u003Cp>\u003Cstrong>N\u002FA\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>Término de obra de um empreendimento residencial localizado no bairro da Pompeia em São Paulo\u002FSP. A obra encontra-se em estágio avançado de construção com previsão de entrega em janeiro de 2027.\u003C\u002Fp>\u003Cp>A operação conta com a cessão fiduciária dos recebíveis, alienação fiduciária das cotas da SPE, alienação fiduciária do terreno, aval dos sócios e fundo de reserva.\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F4009\u002Fpage_10_image_50.jpg\">\u003C\u002Fp>\u003Cp>\u003Cstrong>83%\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F4009\u002Fpage_10_image_52.jpg\">\u003C\u002Fp>\u003Cp>\u003Cstrong>51%\u003C\u002Fstrong>\u003C\u002Fp>\u003Ch3>CRI Chaincorp\u003C\u002Fh3>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F4009\u002Fpage_11_image_3.jpg\">\u003C\u002Fp>\u003Cp>CRI Marca Brasil\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F4009\u002Fpage_11_image_5.jpg\">\u003C\u002Fp>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>Taxa\u003C\u002Fth>\u003Cth>IPCA + 14,98%\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>Segmento\u003C\u002Ftd>\u003Ctd>Giro de Estoque\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>%PL\u003C\u002Ftd>\u003Ctd>7,5%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Duration\u003C\u002Ftd>\u003Ctd>1,3 anos\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>LTV\u003C\u002Ftd>\u003Ctd>53%\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>CRI Balaroti\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F4009\u002Fpage_11_image_8.jpg\">\u003C\u002Fp>\u003Cp>Disclaimer: Os valores dos indicadores de obra e vendas são atualizados com base nos relatórios mais recentes dos servicers.\u003C\u002Fp>\u003Ch3>Taxa\u003C\u002Fh3>\u003Cp>CDI + 4,00%\u003C\u002Fp>\u003Cp>\u003Cstrong>Segmento\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>Incorporação\u003C\u002Fp>\u003Cp>\u003Cstrong>%PL\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>9,5%\u003C\u002Fp>\u003Cp>\u003Cstrong>Duration\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cstrong>LTV\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>1,7 anos\u003C\u002Fp>\u003Cp>72%\u003C\u002Fp>\u003Ch3>Taxa\u003C\u002Fh3>\u003Cp>CDI + 2,99%\u003C\u002Fp>\u003Cp>Varejo\u003C\u002Fp>\u003Cp>\u003Cstrong>%PL\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>7,3%\u003C\u002Fp>\u003Cp>\u003Cstrong>Duration\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>1,5 anos\u003C\u002Fp>\u003Cp>\u003Cstrong>LTV\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>48%\u003C\u002Fp>\u003Cp>Término de obra de dois empreendimentos residenciais localizados no bairro Jardim São Paulo em São Paulo\u002FSP. Operação conta com série subordinada, que foi integralizada pelos sócios da incorporadora.\u003C\u002Fp>\u003Cp>A operação conta com a cessão fiduciária dos recebíveis, alienação fiduciária das cotas da SPE, alienação fiduciária do terreno, aval dos sócios e uma série subordinada.\u003C\u002Fp>\u003Cp>Operação de Giro de Estoque de dois empreendimentos performados, localizados em Belo Horizonte (MG): Vivity e Rosenburg. Além disso, a operação conta com cessão de carteira de dois loteamentos performados.\u003C\u002Fp>\u003Cp>A operação conta com a cessão fiduciária dos recebíveis, alienação fiduciária das unidades, alienação fiduciária das cotas da SPEs, aval dos sócios na pessoa física e fundo de reserva.\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F4009\u002Fpage_11_image_33.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F4009\u002Fpage_11_image_34.jpg\">\u003C\u002Fp>\u003Cp>\u003Cstrong>37%\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cstrong>66%\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>CRI corporativo para a Balaroti, empresa fundada em 1975 que atua no comércio de materiais de construção, acabamento e decoração, em especial na região Sul do país.\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F4009\u002Fpage_11_image_38.jpg\">\u003C\u002Fp>\u003Cp>\u003Cstrong>100%\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>A operação conta com alienação fiduciária de 5 lojas locadas para a Balaroti, cessão fiduciária de recebíveis das vendas de suas lojas, fiança do sócio e fundo de reserva.\u003C\u002Fp>\u003Cp>\u003Cstrong>N\u002FA\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F4009\u002Fpage_11_image_42.jpg\">\u003C\u002Fp>\u003Cp>\u003Cstrong>N\u002FA\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cstrong>N\u002FA\u003C\u002Fstrong>\u003C\u002Fp>\u003Ch3>CRI Impegno\u003C\u002Fh3>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F4009\u002Fpage_12_image_3.jpg\">\u003C\u002Fp>\u003Ch3>CRI Ariatam\u003C\u002Fh3>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F4009\u002Fpage_12_image_5.jpg\">\u003C\u002Fp>\u003Ch3>CRI Miríade\u003C\u002Fh3>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F4009\u002Fpage_12_image_7.jpg\">\u003C\u002Fp>\u003Cp>Disclaimer: Os valores dos indicadores de obra e vendas são atualizados com base nos relatórios mais recentes dos servicers.\u003C\u002Fp>\u003Cp>\u003Cstrong>Taxa\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>IPCA + 13,50%\u003C\u002Fp>\u003Cp>\u003Cstrong>Segmento\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cstrong>%PL\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>Incorporação\u003C\u002Fp>\u003Cp>\u003Cstrong>Duration\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>5,7%\u003C\u002Fp>\u003Cp>\u003Cstrong>LTV\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>1,6 anos\u003C\u002Fp>\u003Cp>62%\u003C\u002Fp>\u003Cp>\u003Cstrong>Taxa\u003C\u002Fstrong>\u003C\u002Fp>\u003Ch3>Segmento\u003C\u002Fh3>\u003Cp>IPCA + 12,98%\u003C\u002Fp>\u003Cp>\u003Cstrong>%PL\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>Incorporação\u003C\u002Fp>\u003Cp>\u003Cstrong>Duration\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>4,7%\u003C\u002Fp>\u003Cp>\u003Cstrong>LTV\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>1,2 anos\u003C\u002Fp>\u003Cp>20%\u003C\u002Fp>\u003Cp>\u003Cstrong>Taxa\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>IPCA + 13,50%\u003C\u002Fp>\u003Cp>\u003Cstrong>Segmento\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>Incorporação\u003C\u002Fp>\u003Cp>\u003Cstrong>%PL\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>3,0%\u003C\u002Fp>\u003Cp>\u003Cstrong>Duration\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>3,6 anos\u003C\u002Fp>\u003Cp>\u003Cstrong>LTV\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>30%\u003C\u002Fp>\u003Cp>Término de obra de um empreendimento residencial localizado na cidade de Itajaí\u002FSC. A obra se encontra em estágio avançado de construção e o empreendimento está 100% vendido.\u003C\u002Fp>\u003Cp>A operação conta com a cessão fiduciária dos recebíveis, alienação fiduciária de cotas, alienação fiduciária do terreno, aval dos sócios e fundo de reserva.\u003C\u002Fp>\u003Cp>Término de obra de um empreendimento residencial localizado na cidade de Piracicaba\u002FSP. A obra encontra-se concluída com habite-se emitido.\u003C\u002Fp>\u003Cp>A operação conta com a cessão fiduciária dos recebíveis, alienação fiduciária das cotas da SPE, alienação fiduciária do terreno, aval dos sócios e fundo de reserva.\u003C\u002Fp>\u003Cp>Término de obra de um empreendimento residencial localizado na cidade de Ubatuba\u002FSP. A obra já foi finalizada e possui habite-se emitido.\u003C\u002Fp>\u003Cp>A operação conta com a cessão fiduciária dos recebíveis, alienação fiduciária das cotas da SPE, alienação fiduciária das unidades, fiança dos sócios e fundo de reserva.\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F4009\u002Fpage_12_image_45.jpg\">\u003C\u002Fp>\u003Cp>\u003Cstrong>94%\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cstrong>100%\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F4009\u002Fpage_12_image_48.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F4009\u002Fpage_12_image_49.jpg\">\u003C\u002Fp>\u003Cp>\u003Cstrong>100%\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cstrong>60%\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cstrong>100%\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F4009\u002Fpage_12_image_53.jpg\">\u003C\u002Fp>\u003Cp>\u003Cstrong>98%\u003C\u002Fstrong>\u003C\u002Fp>\u003Ch3>CRI Garden Ville – Fase 1\u003C\u002Fh3>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F4009\u002Fpage_13_image_3.jpg\">\u003C\u002Fp>\u003Cp>\u003Cstrong>Taxa\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F4009\u002Fpage_13_image_5.jpg\">\u003C\u002Fp>\u003Cp>\u003Cstrong>Segmento\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>CDI + 6,50%\u003C\u002Fp>\u003Cp>Incorporação\u003C\u002Fp>\u003Cp>\u003Cstrong>%PL\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F4009\u002Fpage_13_image_10.jpg\">\u003C\u002Fp>\u003Cp>3,0%\u003C\u002Fp>\u003Ch3>CRI Moov\u003C\u002Fh3>\u003Cp>\u003Cstrong>Duration\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cstrong>LTV\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>2,6 anos\u003C\u002Fp>\u003Cp>58%\u003C\u002Fp>\u003Cp>\u003Cstrong>Taxa\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cstrong>Segmento\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cstrong>%PL\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cstrong>Duration\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cstrong>LTV\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>IPCA + 12,22%\u003C\u002Fp>\u003Cp>Incorporação\u003C\u002Fp>\u003Cp>2,9%\u003C\u002Fp>\u003Cp>1,6 anos\u003C\u002Fp>\u003Cp>47%\u003C\u002Fp>\u003Cp>Término de obra de dois empreendimentos residenciais horizontais localizados no Maranhão. A operação conta com 5 séries independentes com objetivo de financiar as fases dos empreendimentos. O Fundo integralizou a primeira série cuja fase objeto do financiamento está totalmente vendida.\u003C\u002Fp>\u003Cp>A operação conta com a cessão fiduciária dos recebíveis, alienação fiduciária das cotas da SPE, alienação fiduciária das unidades, aval dos sócios e fundo de reserva.\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F4009\u002Fpage_13_image_29.jpg\">\u003C\u002Fp>\u003Cp>Término de obra de um empreendimento residencial localizado na cidade de Cuiabá\u002FMT. A obra já foi finalizada e possui habite-se emitido.\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F4009\u002Fpage_13_image_31.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F4009\u002Fpage_13_image_32.jpg\">\u003C\u002Fp>\u003Cp>A operação conta com a cessão fiduciária dos recebíveis, alienação fiduciária das unidades, alienação fiduciária das cotas da SPE, aval dos sócios e fundo de reserva.\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F4009\u002Fpage_13_image_34.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F4009\u002Fpage_13_image_35.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F4009\u002Fpage_13_image_36.jpg\">\u003C\u002Fp>\u003Cp>\u003Cstrong>74%\u003C\u002Fstrong>\u003C\u002Fp>\u003Ch3>ZAVIT\u002FcapITaL\u003C\u002Fh3>\u003Cp>Gestão de Recursos\u003C\u002Fp>\u003Cp>\u002F>\u003C\u002Fp>\u003Cp>Av. Angélica, 2220, CJ 112\u003C\u002Fp>\u003Cp>01228-200, Higienópolis\u003C\u002Fp>\u003Cp>São Paulo, SP\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F4009\u002Fpage_14_image_7.jpg\">\u003C\u002Fp>\u003Cp>www.zavit.com.br\u003C\u002Fp>\u003Cp>Zavit Capital\u003C\u002Fp>\u003Cp>+55 11 3819-2655\u003C\u002Fp>\u003Cp>Relação com Investidores\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F4009\u002Fpage_14_image_12.jpg\">\u003C\u002Fp>\u003Cp>\u003Cstrong>ri@zavit.com.br\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>documento não const meramente informativo e é para u evendo ser u s. Recomendam • º s temas nem es indicadas no material e não rar qualquer condição, nados ne\u003C\u002Fp>","https:\u002F\u002Fwww.kartac.com.br\u002Fapi\u002Ffiis\u002FZAVC11\u002Fdocumentos\u002F4009\u002Fpdf",false,"https:\u002F\u002Ffnet.bmfbovespa.com.br\u002Ffnet\u002Fpublico\u002FdownloadDocumento?id=1277834","2026-06-30","2026-08-05 18:45:00",1,{"title":17,"description":18,"canonical":19,"image":20,"json_ld":21,"nome":46,"resumo":88},"Relatório Gerencial ZAVC11 de junho de 2026 | Kartac","Relatório Gerencial de junho de 2026 do ZAVC11 (Zavit Crédito Imobiliário), entrega em 05\u002F08\u002F2026. DY 12 meses de 17,00% e P\u002FVP 0,87 em 04\u002F11\u002F2026.","https:\u002F\u002Fwww.kartac.com.br\u002Fdetalhes\u002FZAVC11\u002Fdocumentos\u002F4009","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\u002FZAVC11\u002Fdocumentos\u002F4009#pagina",{"@id":32},"2026-11-01",{"@id":41},"https:\u002F\u002Fwww.kartac.com.br\u002Fdetalhes\u002FZAVC11\u002Fdocumentos\u002F4009#documento",{"@id":43},"https:\u002F\u002Fwww.kartac.com.br\u002Fdetalhes\u002FZAVC11\u002Fdocumentos\u002F4009#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 ZAVC11 de junho de 2026",{"@id":48},"https:\u002F\u002Fwww.kartac.com.br\u002Fdetalhes\u002FZAVC11#fundo","2026-08-05","2026-06",{"@type":25,"name":52,"identifier":53},"ZAVIT GESTÃO DE RECURSOS LTDA.",{"@type":54,"propertyID":55,"value":56},"PropertyValue","CNPJ","38.136.258\u002F0001-92",{"@type":25,"name":58},"BRL TRUST DTVM S.A.",{"@type":60,"@id":48,"name":61,"alternateName":62,"url":65,"category":66,"identifier":67,"provider":72},"InvestmentFund","Zavit Crédito Imobiliário",[63,64],"ZAVC11","ZAVIT CRÉDITO IMOBILIÁRIO FUNDO DE INVESTIMENTO IMOBILIÁRIO - RESPONSABILIDADE LIMITADA","https:\u002F\u002Fwww.kartac.com.br\u002Fdetalhes\u002FZAVC11","Papel",[68,70],{"@type":54,"propertyID":69,"value":63},"Ticker B3",{"@type":54,"propertyID":55,"value":71},"52.101.897\u002F0001-43",{"@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 Zavit Crédito Imobiliário (ZAVC11), fundo imobiliário de papel, referente a junho de 2026, com entrega no FundosNet (B3) em 05\u002F08\u002F2026.","No pregão de 04\u002F11\u002F2026, a cota do ZAVC11 fechou a R$ 9,00, com P\u002FVP de 0,87 (valor patrimonial de R$ 10,34 por cota no informe mensal de setembro de 2026).","O último rendimento foi de R$ 0,13 por cota, com pagamento em nov\u002F2026, e o dividend yield dos últimos 12 meses é de 17,00% sobre a cotação de 04\u002F11\u002F2026.","O patrimônio líquido era de R$ 37,1 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":211,"vpa":212,"p_vpa":213,"tipo_gestao":214,"mandato":215,"segmento":216,"categoria":66,"grupo":66,"preco_atual":192,"cotacao_atualizada_em":217,"ultima_variacao_cotacao_24h":218,"variacao_cotacao_7d":219,"variacao_cotacao_1m":220,"variacao_cotacao_3m":221,"variacao_cotacao_6m":222,"variacao_cotacao_12m":223,"vacancia_fisica":215,"liquidez_atual":224,"ultimo_dividendo":225,"ultimo_dividend_yield":226,"mes_pagamento_ultimo_dividendo":227,"dividend_yield_3m":228,"dividend_yield_6m":229,"dividend_yield_12m":230,"dividend_yield_medio_12m":231,"qtd_dividendos_pagos_ano_passado":232,"data_ultima_cotacao":209,"pregoes_com_negocio_21":233,"alertas":234,"updated_at":235,"liquidez_media_reais":236,"administrador":58,"taxa_administracao_paga":215,"balanco":237,"resultado_distribuido":244,"publico_alvo":248,"mercados_negociacao_cotas":249,"data_funcionamento":251,"data_final":215,"quantidade_cotas":252,"quantidade_cotistas":253,"detalhes_cotistas":254,"total_investido":257,"investimentos_fundo":258,"imoveis":259,"contratos":215,"custodiante":261,"auditor_independente":266,"formador_mercado":215,"distribuidor_cotas":273,"consultor_especializado":215,"administrador_locacoes":215,"relatorio_anual":274,"analise_administrador":277},601,{"nome":64,"nome_simplificado":99,"nome_comercial":61,"ticker":63,"nome_ticker":100,"nome_pregao":101,"cnpj":71},"ZAVIT CRÉDITO IMOBILIÁRIO   RESPONSABILIDADE LIMITADA","ZAVC11 - ZAVIT CRÉDITO IMOBILIÁRIO FUNDO DE INVESTIMENTO IMOBILIÁRIO - RESPONSABILIDADE LIMITADA","FII ZAVIT C",{"id":103,"nome":52,"cnpj":104,"endereco":105,"telefone":106,"created_at":107,"updated_at":107},80,"38136258000192","Av Brigadeiro Faria Lima, 1800 6° andar\n01451-001 - São Paulo – SP","(11) 3819-2655","2026-10-03T18:55:44.000000Z",[109,115,121,126,130,135,140,146,152,157,161,167,171,177,183,189,194,198,202,207],{"id":110,"data":111,"abertura":112,"ultimo":113,"volume":114},3288801,"2026-10-06",9.27,9.22,77,{"id":116,"data":117,"abertura":118,"ultimo":119,"volume":120},3289530,"2026-10-07",9.37,9.23,4353,{"id":122,"data":123,"abertura":119,"ultimo":124,"volume":125},3290518,"2026-10-08",9.26,595,{"id":127,"data":128,"abertura":118,"ultimo":113,"volume":129},3290986,"2026-10-09",160,{"id":131,"data":132,"abertura":119,"ultimo":133,"volume":134},3356945,"2026-10-13",9.24,1568,{"id":136,"data":137,"abertura":138,"ultimo":124,"volume":139},3375555,"2026-10-14",9.42,140,{"id":141,"data":142,"abertura":143,"ultimo":144,"volume":145},3376198,"2026-10-15",9.4,9.39,484,{"id":147,"data":148,"abertura":149,"ultimo":150,"volume":151},3377055,"2026-10-16",9.52,9.57,319,{"id":153,"data":154,"abertura":150,"ultimo":155,"volume":156},3445222,"2026-10-19",9.56,164,{"id":158,"data":159,"abertura":155,"ultimo":144,"volume":160},3446589,"2026-10-20",345,{"id":162,"data":163,"abertura":164,"ultimo":165,"volume":166},3459774,"2026-10-21",9.55,9.46,49,{"id":168,"data":169,"abertura":149,"ultimo":143,"volume":170},3473632,"2026-10-22",307,{"id":172,"data":173,"abertura":174,"ultimo":175,"volume":176},3488172,"2026-10-23",9.5,9.49,263,{"id":178,"data":179,"abertura":180,"ultimo":181,"volume":182},3566184,"2026-10-26",9.48,9.19,816,{"id":184,"data":185,"abertura":186,"ultimo":187,"volume":188},3580086,"2026-10-27",9.2,8.99,2276,{"id":190,"data":191,"abertura":192,"ultimo":192,"volume":193},3594240,"2026-10-28",9,1553,{"id":195,"data":196,"abertura":192,"ultimo":192,"volume":197},3608991,"2026-10-29",678,{"id":199,"data":200,"abertura":192,"ultimo":192,"volume":201},3624873,"2026-10-30",1839,{"id":203,"data":204,"abertura":205,"ultimo":187,"volume":206},3682177,"2026-11-03",8.96,486,{"id":208,"data":209,"abertura":192,"ultimo":192,"volume":210},3695712,"2026-11-04",446,37053512.52,10.34,"0.87","Ativa",null,"Outros","2026-11-05 09:00","0.0011","0.0000","-0.0239","-0.0260","-0.0364","-0.0323",33,"0.1300","0.0144","Nov\u002F2026","0.0433","0.0867","0.1700","0.0138",12,21,[],"05\u002F11\u002F2026 07:00",7796.48,{"data_referencia":238,"ativo":239,"passivo":240,"obrigacoes_imoveis":241,"obrigacoes_securitizacao":241,"liquidez":242,"valores_receber":243},"2026-09-01",37557948.83,504436.31,0,3118895.94,4550.83,{"data_referencia":13,"resultado":245,"rendimentos":246,"percentual":247},2748390.57,2672545.8615,0.9724039554902126,"Investidor Profissional",[250],"Bolsa","2023-09-28",3582421,883,{"Pessoa Física":255,"Fundos de investimento imobiliário":256,"Pessoa jurídica não financeira":81},874,7,34434502.06,{"CRI \u002F CRA":257},{"vacancia_total":241,"lista_imoveis":260,"data_referencia":13,"vacancia_suspeita":11},[],{"id":81,"nome":58,"cnpj":262,"endereco":263,"telefone":264,"created_at":265,"updated_at":265},"13486793000142","R. Alves Guimarães, 1216 - Pinheiros, São Paulo - SP, 05410-002","(11) 3509-0600","2026-06-07T17:17:20.000000Z",{"id":267,"nome":268,"cnpj":269,"endereco":270,"telefone":271,"created_at":272,"updated_at":272},64,"ECOVIS WFA AUDITORES IDEPENDENTES S\u002FS","40221974000110","AV. NAÇÕES UNODAS, 14401 - CHACARA SANTO ANTONIO","(11) 5183-5422","2026-10-03T18:54:38.000000Z",{"id":81,"nome":58,"cnpj":262,"endereco":263,"telefone":264,"created_at":265,"updated_at":265},{"ano_referencia":275,"data_disponibilizacao":276},"2026","2026-09-28",{"ResultadoFundo":278,"ConjunturaEconomica":279,"PerspectivaPeriodoSeguinte":280},"De Julho de 2025 a Junho de 2026, o fundo gerou R$ 5.628 milhões de resultado caixa. A distribuição no período foi de R$ 5.481 milhões, equivalente a R$ 1,53 por cota em uma base de 3.582.421 cotas. ","Nos últimos anos, o mercado imobiliário enfrentou uma crise prolongada, marcada pelo endividamento de empresas, escassez de crédito e altas taxas de juros, o que dificultou as transações de compra e venda de imóveis, tanto para uso residencial quanto para investimento. Entretanto, recentemente o setor mostrou sinais de recuperação. Com uma leve recuperação econômica, houve uma retomada das construções e um aumento na demanda por imóveis.\n\nNo entanto, a inflação persistente e o aumento dos custos de insumos e materiais de construção têm pressionado o mercado, impactando diretamente os preços dos imóveis. Adicionalmente, o aumento das taxas de financiamento imobiliário em conjunto com as restrições, ainda refletem um cenário econômico de cautela, o que mantém os valores dos imóveis elevados. Essa combinação de fatores está redefinindo a dinâmica do mercado imobiliário, exigindo uma análise criteriosa por parte de investidores e compradores.","Diante da escassez de recursos no mercado de poupança e da Selic acima dos dois dígitos, o cenário atual apresenta taxas de financiamento mais elevadas. Esse contexto abre boas oportunidades para a estruturação de operações com maior rentabilidade e garantias mais sólidas, uma vez que a desaceleração nas vendas de empreendimentos, combinada com o alto custo do setor, tem criado um ambiente favorável para negociações mais vantajosas."]