In 2016, Grupo Adtalem Global (formerly Devry), after acquiring IBMEC in December 2015, analyzed all lease agreements and, observing that some of them were above market values, hired EREA to renegotiate them and also negotiate the expansion of one of the units. Two contracts were negotiated in the city of Rio de Janeiro, being one of them a Built to Suit (BTS).
The Work Conducted
IBMEC has two units in Rio de Janeiro (Barra da Tijuca and Downtown), one of them located in a BTS project whose contract is not subject to lease review. After thorough analysis of all contracts, amendments and plans by EREA, discrepancies were identified enabling the negotiation of the value of the contract. Combining those discrepancies to the need of IBMEC to expand one of the buildings, it was possible to negotiate gains in the projects in favor of the client.
We negotiated reductions in the values of the payment made by IBMEC to the two landlords due to the discrepancies found, as well as the contract for the expansion requested.