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Tecnisa SA and PDG Realty SA Empreendimentos e Participacoes Announce Launch of Towers in Jardim das Perdizes District; Signs Credit Agreement with Banco Santander SA


Tuesday, 12 Mar 2013 08:01am EDT 

Tecnisa SA and PDG Realty SA Empreendimentos e Participacoes (PDG) announced the launch of the first towers in Jardim das Perdizes district, Sao Paulo, Brazil. During the first weekend there were sold 367 units, corresponding to 86% of total units launched. To finance the project, the Company has signed a credit line agreement with Banco Santander SA in the amount of BRL 750 million. The development belongs to a special purpose company Windsor Investimentos Imobiliarios Ltda where Tecnisa SA has a 69.53% stake and PDG a 25% stake through Agra Empreendimentos Imobiliarios SA and BV Empreendimentos e Participacoes SA with 5.47%.