"With panoramic park views, expansive full-floor units and first-class finishes, this development will offer buyers the opportunity to live in one of the most sought-after areas in the city," says GoldenTree InSite Partners Managing Director Josh Pristaw. Most of the units will average 3,600 sf, although the penthouse will encompass two floors. That scale should offer privacy for tenants, says Pristaw, with buyers also expected to be attracted by a range of high-end amenities and services.

Company officials did not provide a timetable for launching or completing the project, but GoldenTree InSite Partners president Tom Shapiro indicates the undertaking will move ahead quickly to take advantage of the country's booming real estate sector. Shapiro also says the opportunity was made available to GoldenTree largely thanks to its relationship with Yuny, an 11-year old Brazilian real estate company that recently changed its name from Quality Desenvolvimento Imobilario.

"We continue to be impressed with Yuny's principals and the team they have built," says Shapiro, calling the partnership "a significant competitive advantage to source deals in Brazil." Yuny co-CEO Marcelo Mariz de Oliveira Yunes is equally upbeat. "As a direct result of our strategic alliance, we have been able to pursue larger, higher-profile deals than ever before," says Yunes. The partnership was able to buy an office condo project in Berrini and another residential project in Carrao in the two inaugural acquisitions. Other transactions are also being aggressively pursued, Yunes relays.