Identifier
Created
Classification
Origin
07BRASILIA103
2007-01-19 16:44:00
UNCLASSIFIED
Embassy Brasilia
Cable title:
BRAZIL: OPIC SUPPORT FOR INVESTMENT FUND
how-toVZCZCXRO3122 RR RUEHRG DE RUEHBR #0103 0191644 ZNR UUUUU ZZH R 191644Z JAN 07 FM AMEMBASSY BRASILIA TO RUEHC/SECSTATE WASHDC 7896 INFO RUEHRG/AMCONSUL RECIFE 6130 RUEHRI/AMCONSUL RIO DE JANEIRO 3727 RUEHSO/AMCONSUL SAO PAULO 9046
UNCLAS BRASILIA 000103
SIPDIS
SIPDIS
STATE PASS OPIC FOR B.MCGUIRE AND A.PATEL
STATE FOR EB/IFD/OIA
E.O. 12958: N/A
TAGS: EINV ECON BR
SUBJECT: BRAZIL: OPIC SUPPORT FOR INVESTMENT FUND
REF: 06 STATE 201751
UNCLAS BRASILIA 000103
SIPDIS
SIPDIS
STATE PASS OPIC FOR B.MCGUIRE AND A.PATEL
STATE FOR EB/IFD/OIA
E.O. 12958: N/A
TAGS: EINV ECON BR
SUBJECT: BRAZIL: OPIC SUPPORT FOR INVESTMENT FUND
REF: 06 STATE 201751
1. Post supports OPIC's planned investment in Paladin Realty LP
Fund, which will assist in the development of affordable and
middle-income housing in Brazil (reftel). Recent changes to
Brazilian legislation have encouraged substantial growth in the real
estate and construction sector. These changes have brought new
financing to the sector and have allowed significant recent
issuances of mortgage-backed securities. This high growth comes
from a relatively low base, however, so there is still need for
additional capital. Moroever, given Brazil's modest domestic
savings rate and its overall investment needs, there clearly is a
useful role for external financing to play in supplementing domestic
funding sources.
2. Paladin is not very well known in the Brazilian real estate and
construction sector, although representatives of its local partner,
Even Construtora, spoke very highly of them to us. An independent
real estate industry group with whom we spoke had no knowledge of
Paladin, but noted that Even Construtora is a well-regarded market
leader in the Brazilian real estate and construction sector.
SOBEL
SIPDIS
SIPDIS
STATE PASS OPIC FOR B.MCGUIRE AND A.PATEL
STATE FOR EB/IFD/OIA
E.O. 12958: N/A
TAGS: EINV ECON BR
SUBJECT: BRAZIL: OPIC SUPPORT FOR INVESTMENT FUND
REF: 06 STATE 201751
1. Post supports OPIC's planned investment in Paladin Realty LP
Fund, which will assist in the development of affordable and
middle-income housing in Brazil (reftel). Recent changes to
Brazilian legislation have encouraged substantial growth in the real
estate and construction sector. These changes have brought new
financing to the sector and have allowed significant recent
issuances of mortgage-backed securities. This high growth comes
from a relatively low base, however, so there is still need for
additional capital. Moroever, given Brazil's modest domestic
savings rate and its overall investment needs, there clearly is a
useful role for external financing to play in supplementing domestic
funding sources.
2. Paladin is not very well known in the Brazilian real estate and
construction sector, although representatives of its local partner,
Even Construtora, spoke very highly of them to us. An independent
real estate industry group with whom we spoke had no knowledge of
Paladin, but noted that Even Construtora is a well-regarded market
leader in the Brazilian real estate and construction sector.
SOBEL