author
Carlos Balthazar Summ
We are excited to share the second episode of CIXcast! This time, we had the honor of hosting Marcelo Michalua, founding partner and CEO of RB Capital, as our special guest. Join us as we delve into the intricacies of real estate macroeconomics and investment funds. Hosted by João Pedro Araujo, Portfolio Manager at CIX, this episode offers a wealth of insights into the evolving landscape of the real estate market.
In this episode, Marcelo Michalua—a professional whose career has been closely tied to the evolution of real estate financing in Brazil—takes us through the journey of the market’s growth. Marcelo has witnessed the securitization of real estate credit and the emergence of real estate investment funds. He shares his insights on topics ranging from interest rates to the influence of the Selic rate and broader dynamics affecting the real estate segment.
Marcelo breaks down the complexities of Brazil’s real estate credit market, which historically relied heavily on self-financing. He explores how regulatory frameworks and macroeconomic changes have shaped its evolution, even as it remains in a nascent stage.
Both the real estate investment fund market and the broader capital markets in Brazil are still in their early growth phases. Marcelo emphasizes the importance of macroeconomic stabilization and robust regulation to further strengthen these sectors. This conversation offers a deeper understanding of the nuances driving today’s real estate market and its promising growth potential.
From Marcelo’s perspective, Brazil’s Central Bank acts as both a key partner and a subtle competitor. He highlights how interest rates, particularly their impact on the long-term curve, significantly influence economic activities and real estate assets. The interplay between regulatory stability and macroeconomic health is critical for fostering a robust and healthy market.
Tune into the latest episode of CIXcast for a deep dive into the real estate market and its macroeconomic underpinnings. Subscribe to our YouTube channel and follow us on Spotify to stay updated on powerful insights into real estate investments and more.
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CIX Capital is an investment by Maiz: maiz.com.br