Investing
3G Billionaires Snap Up Real Estate Bargains in Covid Hotbed
- Brazil targets include office space, strip malls, apartments
- Latin America country is suffering its worst phase of pandemic
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The private equity titans behind 3G Capital Inc. and their families are taking advantage of distressed real estate prices in Brazil, where the economy has been battered by Covid-19 and the botched government response.
Firms linked to billionaires Jorge Paulo Lemann, Marcel Telles and Carlos Alberto Sicupira are increasing bets on strip malls, office space and long-term rental apartments. The goal is to seize opportunities created by the pandemic in a nation that’s leading the world in daily Covid deaths.