Structuring of a Real Estate Investment Vehicle for the Rio Central Region

The Inter-American Development Bank (IDB) invites specialized consulting firms to submit proposals for the technical, legal, and financial structuring of a Real Estate Investment Vehicle (REIV) dedicated to the urban revitalization of the Rio Central Region.

The primary objective is to design technical, legal, and financial arrangements capable of mobilizing private capital at scale to finance the regeneration and rehabilitation of a real estate portfolio comprising public and private properties, with special focus on heritage-listed assets and protected cultural sites.

1. Scope of Services & Key Objectives

Urban Regeneration at Scale: Mobilize private investment to fund the redevelopment, rehabilitation, and adaptive reuse of real estate assets across Rio de Janeiro's central district.

Heritage Preservation Focus: Prioritize properties protected by official heritage listings and urban cultural heritage preservation instruments.

Integrated Assessment & Financial Modeling: Conduct multi-disciplinary diagnostics, analyze global best practices, and formulate actionable vehicle structuring scenarios and complementary financing mechanisms.

2. Key Activities

Asset Diagnosis (P1): Perform technical, legal, and financial evaluations of candidate public and private properties, including title/registry/tax verification, heritage status checks, highest-and-best-use studies, property valuations, and owner surveys.

International Benchmarking (P2): Analyze at least three (3) international case studies of institutional public-private real estate investment vehicles that successfully led to the revitalization of historic urban centers.

Structuring Scenarios & Financing (P3): Formulate REIV structuring models defining portfolio composition, anchor strategies, economic-financial feasibility, and complementary public and private financing instruments.

Inter-Team Collaboration: Coordinate directly with technical and legal teams preparing the legal instruments needed to operationalize the REIV structure.

3. Core Deliverables

Deliverable 1 (P1) — Public and Private Asset Diagnostic Report: Comprehensive technical, legal, tax, valuation, and highest-and-best-use studies for portfolio properties.

Deliverable 2 (P2) — International Benchmarking Study: Comparative evaluation of at least three global public-private real estate vehicles for historic center revitalization.

Deliverable 3 (P3) — REIV Structuring Plan & Financial Scenarios: Feasibility models, portfolio structuring options, anchor asset strategies, and recommended public/private financing mechanisms.

Note: Interested companies must review the requirements in the BEO Bidders Portal. TheInter-AmericanDevelopmentBank(IDB)invitesspecializedconsultingfirmstosubmitproposalsforthetechnical,legal,andfinancialstructuringofaRealEstateInvestmentVehicle(REIV)dedicatedtotheurbanrevitalizationoftheRioCentralRegion.Theprimaryobjectiveistodesigntechnical,legal,andfinancialarrangementscapableofmobilizingprivatecapitalatscaletofinancetheregenerationandrehabilitationofarealestateportfoliocomprisingpublicandprivateproperties,withspecialfocusonheritage-listedassetsandprotectedculturalsites.1.ScopeofServices&KeyObjectivesUrbanRegenerationatScale:Mobilizeprivateinvestmenttofundtheredevelopment,rehabilitation,andadaptivereuseofrealestateassetsacrossRiodeJaneiro'scentraldistrict.HeritagePreservationFocus:Prioritizepropertiesprotectedbyofficialheritagelistingsandurbanculturalheritagepreservationinstruments.IntegratedAssessment&FinancialModeling:Conductmulti-disciplinarydiagnostics,analyzeglobalbestpractices,andformulateactionablevehiclestructuringscenariosandcomplementaryfinancingmechanisms.2.KeyActivitiesAssetDiagnosis(P1):Performtechnical,legal,andfinancialevaluationsofcandidatepublicandprivateproperties,includingtitle/registry/taxverification,heritagestatuschecks,highest-and-best-usestudies,propertyvaluations,andownersurveys.InternationalBenchmarking(P2):Analyzeatleastthree(3)internationalcasestudiesofinstitutionalpublic-privaterealestateinvestmentvehiclesthatsuccessfullyledtotherevitalizationofhistoricurbancenters.StructuringScenarios&Financing(P3):FormulateREIVstructuringmodelsdefiningportfoliocomposition,anchorstrategies,economic-financialfeasibility,andcomplementarypublicandprivatefinancinginstruments.Inter-TeamCollaboration:CoordinatedirectlywithtechnicalandlegalteamspreparingthelegalinstrumentsneededtooperationalizetheREIVstructure.3.CoreDeliverablesDeliverable1(P1)—PublicandPrivateAssetDiagnosticReport:Comprehensivetechnical,legal,tax,valuation,andhighest-and-best-usestudiesforportfolioproperties.Deliverable2(P2)—InternationalBenchmarkingStudy:Comparativeevaluationofatleastthreeglobalpublic-privaterealestatevehiclesforhistoriccenterrevitalization.Deliverable3(P3)—REIVStructuringPlan&FinancialScenarios:Feasibilitymodels,portfoliostructuringoptions,anchorassetstrategies,andrecommendedpublic/privatefinancingmechanisms.Note:InterestedcompaniesmustreviewtherequirementsintheBEOBiddersPortal.

Executing unit: Inter-American Development Bank (IDB)

IDB project: BR-T1728

Contact: washingtonm@iadb.org

Financed by the Inter-American Development Bank (IDB).