Cyrela, CPP Investments and Greystar Announce Partnership with SKR in Brazilian Multifamily Development Venture

SAO PAULO, BRAZIL (January 19, 2021) – Cyrela Brazil Realty (Cyrela), Canada Pension Plan Investment Board (CPP Investments) and Greystar Real Estate Partners, LLC (Greystar) today announced a partnership with real estate developer SKR to develop, own and operate a purpose-built rental multifamily project in the Pinheiros/Rebouças district of São Paulo. Expected to be delivered in 2023, the asset will be a new and centrally located high-rise optimized for rental operations and a signature community lifestyle.

“It’s an opportunity and privilege to be part of a venture with global partners such as Cyrela, Greystar and CPP Investments, recognized experts in developing and managing institutionally owned rental residential buildings. I am certain that this will be the start of a solid partnership that will promote the development of several projects catered to this new growing asset class and demand from the Brazilian residential market, which is in constant transformation. A venture of this magnitude consolidates our position and relevance within the Brazilian competitive landscape,” said Silvio Kozuchowicz, Founder of SKR.

The project will add an iconic building design to the São Paulo skyline. The property was designed by Brazilian architect Angelo Bucci of SPBR Arquitetos, with inspiration from local materials and architectural features such as exposed concrete, natural hardwoods and Portuguese mosaic stones. The 220-unit building will have two entrances: one with more urban characteristics, facing the bustling Avenida Rebouças, and another more private entrance on Rua dos Pinheiros. Paying homage to the cosmopolitan life of the neighborhood, the project will feature retail shops, common areas and resident lounges designed to seamlessly integrate with Greystar’s operations, and offer a unique and premier lifestyle experience. Some of the project’s notable amenity spaces will include a state-of-the-art gym, co-working lounges, a dedicated podcast room, rooftop pool with a bar and lounge, and a world-class restaurant with easy and convenient access for residents.

The partnership is unique in being one of the first institutionally owned and operated multifamily real estate investment platforms in Brazil, which is experiencing a confluence of consumer behavior and demographic trends, as well as structurally lower interest rates, that will continue to make this an attractive investment in Brazil over the coming years and beyond.

“CPP Investments continues to see increasing demand in the rental multifamily sector in Brazil, which will particularly benefit developers of modern, high-quality residential space,” says Hilary Spann, Managing Director, Head of Real Estate Americas, CPP Investments. “We are pleased to venture with SKR on this project and we look forward to expanding our purpose-built multifamily portfolio in Brazil.”

“We could not be more pleased in announcing SKR’s contribution to our partnership with CPP Investments and Cyrela. Silvio is a true visionary in Brazil’s residential development market. SKR’s unmatched development expertise will significantly contribute to our growing portfolio of best-in-class, purpose-built and professionally managed rental residential buildings,” said Tom Livelli, Managing Director of South America for Greystar.

About SKR

SKR is a real estate development and construction company focused on the high-end market, a recognized brand within the Brazilian residential market with over 35 years of existence. Since 2007, SKR Engineering and Cyrela Brazil Realty established the joint venture SK Realty to explore the Sao Paulo real estate market. SKR has developed over 2,693 apartments and 55 buildings, corresponding to more than 600 thousand m² in commercial and residential developments. SKR’s expertise in design excellence and attention to quality is recognized internationally. The company curates very carefully the choice of architects, technical briefing, asset location and know-how within the local market in order to develop beautifully crafted and unique buildings that inspire the resident experience. As an innovative real estate development platform, SKR serves a growing demand of investors and partners in addition to its proprietary projects. Founder & CEO since 1985, Silvio Kozuchowicz believes in the synergies between real estate development, architecture and construction to promote creativity, interaction and community. For more information visit:

About Canada Pension Plan Investment Board

Canada Pension Plan Investment Board (CPP Investments™) is a professional investment management organization that manages the Fund in the best interest of the more than 20 million contributors and beneficiaries of the Canada Pension Plan. In order to build diversified portfolios of assets, investments are made around the world in public equities, private equities, real estate, infrastructure and fixed income. Headquartered in Toronto, with offices in Hong Kong, London, Luxembourg, Mumbai, New York City, San Francisco, São Paulo and Sydney, CPP Investments is governed and managed independently of the Canada Pension Plan and at arm’s length from governments. At September 30, 2020, the Fund totalled C$456.7 billion. For more information, please visit or follow us on LinkedIn, Facebook or Twitter.

About Cyrela

Cyrela Brazil Realty is among the largest residential property developers in the Brazilian real estate market. Thousands of families have trusted their safety and comfort to Cyrela over the last 50 years and the company has grown to more than 15,000 employees. Cyrela constantly invests in its valued workforce through its Corporate University. Cyrela is also committed to social responsibility and improving the neighbourhoods it builds through many types of urban enhancements, as well as caring for the environment through advanced waste-management processes during construction. Cyrela’s brand has become a synonym for high quality through its achievements and innovations. It currently has 200 construction sites spread across 67 cities in 16 Brazilian states in the Federal District and has proudly built more than 56,000 homes.

About Greystar

Greystar is a leading, fully integrated real estate company offering expertise in investment management, development, and management of rental housing properties globally. Headquartered in Charleston, South Carolina, Greystar manages and operates an estimated $200 billion+ of real estate in nearly 200 markets globally, including offices throughout the United States, United Kingdom, Europe, Latin America, and the Asia-Pacific region. Greystar is the largest operator of apartments in the United States, managing approximately 713,000 units/beds, and has a robust institutional investment management platform with approximately $37.2 billion of assets under management, including over $16 billion of assets under development. Greystar was founded by Bob Faith in 1993 with the intent to become a provider of world-class service in the rental residential real estate business. To learn more, visit

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