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Overview

Fund’s characteristic:

Name Fundo de Investimento Imobiliário – FII BTG Pactual Corporate Office Fund.
CNPJ 08.924.783/0001-01.
ISIN Code BRBRCRCTF000.
Trade Code BRCR11.
Type of Fund Closed-end condominium.
Fund`s Manager BTG Pactual Serviços Financeiros S.A. Distribuidora de Títulos e Valores Mobiliários.
Agent/Depositary Compensation BTG Pactual Serviços Financeiros S.A. Distribuidora de Títulos e Valores Mobiliário
Independent Auditors PricewaterhouseCoopers Auditores Independentes, audit company responsible for as of full-year 2016 statement.
Objective The Fund seeks to invest in real estate developments by acquiring the following assets: commercial properties, completed or under construction, or other types of properties where commercial developments may be established, rights related to properties, for the purpose of sale, rent or lease, in addition to other Target Assets listed in the Fund‘s regulation
Duration The Fund does not have a specific term and its duration is for an undetermined period.
Share Classes The shares are undivided interest of BC Office Fund’s assets, nominative and book entry, and are recorded in individual accounts maintained by the fund manager in the name of their respective owners.
Management Fee The fund manager will receive a management fee for its services, comprising: (a) an amount equivalent to 0.250% of 1/12 of the Fund’s market value. Management fee will be daily calculated based on the Fund’s market value and settled up to the fifth business day of the month following the month in which services were provided.
Adviser Fee In accordance with the Investment Advisory Agreement, the investment advisor will be entitled to annual compensation equivalent to 1.5% of the market capitalization of the Fund for its professional investment consulting services, to be calculated and provisioned daily, and paid to the investment advisor monthly, for the preceding period.
Earnings Payouts The earnings are monthly paid to shareholders, based on the minimum legal limit of 95% of the Fund’s earnings in the six-month period, calculated under the cash regime, in accordance with the Fund’s law and regulation in force.
Redemption Pursuant to Brazilian Corporate Law (Article 2º of Law 8,668), shareholders cannot redeem their shares before the liquidation of the Fund.
Risk Factors An investment in the shares involves risks. See “Risk Factors” in the offering memorandum for a discussion of certain factors you should consider before investing in the shares.

 

Legal Basis

The Fund gathers capital from several sources and invests in real estate developments, as defined in the current regulation. It has an indefinite term and is regulated by Law 8,668/93, CVM Instruction 472 and other applicable legal and regulatory provisions, and governed by the Regulation.

Share Rights, Advantages and Restrictions

The Fund’s shares correspond to ideal fractions of its equity, are registered and book-entry, and held by the manager on behalf of the shareholders.

Each share corresponds to one vote at the Fund’s Annual Meetings. Pursuant to article 9 of CVM Instruction 472 and article 2 of Law 8,668/93, shareholders are not allowed to redeem shares.

The Fund’s shares are admitted for trading on the stock exchange or OTC market, on the BOVESPA segment, which is managed and operated by B3 S.A. – Brasil, Bolsa, Balcão, under ticker BRCR11. The shares must remain under custody of the Central Depository of B3 S.A. – Brasil, Bolsa, Balcão, by means of duly accredited custodians.

The holder of the Fund’s shares cannot exercise any real right on the properties and other assets of the Fund’s equity neither personally respond for any legal or contractual obligation related to the properties and other assets of the Fund’s or manager’s equity, except for the obligation to pay the shares subscribed.

Issue of Shares for the Establishment of the Fund

The first issue carried out for the establishment of the Fund was registered with the CVM on April 20, 2007, and the authorization to establish and operate the Fund was granted by the CVM on June 21, 2007.

To date, the Fund has carried out five share issues, and a total of 19,224,537 shares were subscribed and paid up.

Below are the main documents that describe the rules governing the Fund’s operations – Regulation (Portuguese only)

Prospectus of the last issuance

Law 8,668/93 – Creation of FIIs

Law 11,196/2005 – Income tax exemption in the distribution of profit – individuals

CVM Instruction 472/08 – Provides for the creation, management, operation, share offering and disclosure of information of the FIIs

CVM Instruction 516/11 – Provides for the accounting rules applicable to the FIIs’ financial statements

Note: FII – Known locally as Fundo de Investimento Imobiliário or just FII