Merrill to partner with MaxCap to invest in Brazil.

MaxCap Real Estate Investment Advisors and Merrill Lynch have formed a joint venture to invest in real estate throughout Brazil. The joint venture will acquire and develop properties in a diversified range of real estate sectors.

The partnership combines the local expertise and strategic relationships

Paim is MaxCap's founder and CEO and was founding partner and formerly the CEO of Rossi Residencial, one of Brazil's largest residential real estate developers.

MaxCap and Merrill Lynch's relationship began in 2006 and have already made more than $135 million in real estate investments in Brazil.

Their current portfolio includes an ownership stake in Ecoesfera, a groundbreaking residential developer of environmentally sustainable homes, with whom they are developing 15 projects. Two of Ecoesfera's most recent development projects are pre-certified as LEED (Leadership in Energy and Environmental Design) by the US Green Building Council.

The partnership also holds a stake in MaxCasa, an innovative residential developer, with whom they are currently developing eight projects, branded as MaxHaus.

MaxHaus apartments are 70 square meters delivered in an open format, which allows purchasers to tailor their apartment into one, two or three bedrooms based on their own design. The company offers an affordable product that is flexible and contemporary.

"The joint venture between MaxCap's highly experienced local team and Merrill Lynch as a global financial institution, will enable us to build a leading investment platform in Brazil," said Mr Paim. "We expect to substantially increase our exposure in Brazil over the next few years."