Built to Suit
Contracts with Built-To-Suit stems from the specific need of a company occupy a particular
type of property, with peculiar characteristics, location and infrastructure. Thus, the user
not retain ownership of the property, ie not immobilized capital and real estate assets by transferring
investment for the enterprise (SPE).
You could say that the building constructed by a contract of Built-To-Suit is specially made for a
occupant in the specific aims and leasing in addition to following specific standards
space planning, such as building standard, technical specifications, layout, the
growth of the company, location, etc..
The diagram below illustrates the processes and agents involved in an operation Built-To-Suit
2 - The SPE hires a builder to run the project the price closed
3 - EPC Contractor and hit the value and the flow of rents and the rate at which this flow will be fixed (most used by the market are IGP-M and CPI-A)
4 - SPE issues of rent receivables for securitization
5 - Securitizadora standardizes these receivables and issuing CRIs, which have ballast in rents for investors (capital market)
6 - Investors buy CRIs
7 - With the proceeds from the sale of MBS, the insurance company pays the SPE for the transfer of rights to rentals receivable
