We were incorporated on January 10, 2006. Before our incorporation, our management team had already worked for more than ten years in the Brazilian real estate market, providing them broad experience in the sector.
On September 4, 1998, our management team founded CR2 Administradora de Recursos Ltda. ("CR2 Administradora"), a company that managed real estate developments carried out through SPEs. On July 26, 1999, our management team incorporated CR2 DTVM, which was later transformed into Banco CR2, that was responsible for the establishment and administration of Real Estate Investment Funds. Both Banco CR2 and CR2 Administradora were companies under common control.
On May 19, 2006, the shareholders present at a general shareholders‘ meeting approved an increase of our capital stock with the issuance of 500,000 new common shares attributed to CR2 Realty FIP, which became our controlling shareholder. In subsequent capital increases during 2006, which totaled R$61.5 million, CR2 Realty FIP subscribed for our common shares.
On December 20, 2006, the shareholders present at a general shareholders‘ meeting approved our acquisition of all of CR2 Administradora‘s equity interest. As a result of this acquisition, our capital stock was increased through the issuance of 61,515,000 common shares, attributed to the then owners of CR2 Administradora, totaling R$61,856,745.00. On March 13, 2007, our shareholders approved a capital restructuring according to which there was a reverse stock split and four common shares became equal to one common share. This restructuring is binding as of that date. As a result, each holder of four common shares became a holder of only one common share. After this capital restructuring, our capital in the total value of R$61,856,745.00 was divided and represented by 30,757,500 common shares.
On April 17, 2007, CR2 Realty FIP, our controlling shareholder at that time, was dissolved and its holders became our direct shareholders. As a result of this dissolution, we do not have a controlling shareholder holding more than 50% of our shares.
Last Update on September 16, 2013