By Brazil Stock Guide – Brazil’s state-run postal service Correios has begun selling real estate assets as part of a restructuring plan aimed at easing its financial crisis, with the company expecting to raise as much as R$1.5 billion this year.
The first round includes 21 properties ranging from administrative buildings and former operational complexes to land plots, warehouses, retail units and functional apartments. The initial focus is on offloading assets currently sitting unused.
The first auctions are scheduled for Feb. 12 and Feb. 26, with the sales to be held digitally and open to both individuals and corporate buyers.
Some of the listings include heavily deteriorated buildings. One example is a commercial property in downtown São Paulo near the area where the so-called Cracolândia drug zone operated for years. Photos published by Correios show an abandoned structure with trash piled on floors and graffiti-covered walls. The minimum bid for the property is R$7 million.
The company is also offering multiple street-level commercial units in smaller cities, with some in visibly degraded condition after long periods of vacancy. Minimum bids for these properties start at R$16,000.
Other assets are expected to attract stronger investor interest. The portfolio includes an eight-story commercial building in Belo Horizonte, with minimum bids starting at R$8.3 million, located in Floresta, one of the city’s oldest neighborhoods.
Correios is also selling a residential apartment in Barra, one of Salvador’s most valuable districts, with bidding starting at R$524,000.
Correios holds roughly 2,300 properties nationwide, including retail outlets, distribution hubs and office buildings supporting its delivery network. Of that total, at least 60 to 70 properties are currently idle.
In its statement, the company said it remains focused on implementing a restructuring plan combining short-, medium- and long-term measures aimed at restoring financial balance, improving operational efficiency and ensuring long-term sustainability.
The full list of the 21 properties is available on the company’s sales platform.