São Paulo, July 1st, 2021 - São Carlos Empreendimentos e Participações S.A. ("São Carlos" or "Company"; B3: SCAR3) announces on this date, the joint acquisition with JFL Living ("JFL") of 100% of the Edifício Olympia Residence, located in Vila Olímpia, São Paulo - SP ("Property"), for R$ 109.5 million, through the subsidiary GO850 Empreendimentos e Participações Ltda ("SPE"). São Carlos owns 60% of the SPE, while JFL owns 40%. In addition, the SPE entered into operational agreements for the operation of the referred Property.

The Property, now named GO850, is a top-quality residential building, concluded in 2014, located at Rua Gomes de Carvalho, 850, in the Vila Olímpia neighborhood in São Paulo. The Property has 6,795 square feet of gross leasable area, distributed in 136 apartment units of 1 and 2 bedrooms, with full amenities such as swimming pool, gym, steam and gaming rooms and lounge.

This transaction represents the expansion of São Carlos‘ investments into the Multifamily segment in the real estate sector, through a new platform - SC Living. The Company will continue to invest in the other two business platforms in which it holds leadership positions: Office, of corporate buildings, and Best Center, of convenience centers.

JFL has been operating Multifamily assets for 5 years in Brazil, with recognized expertise in the segment.

The acquisition was financed with a loan in the amount of R$ 100 million, with 15 years term and a cost of 3.2% p.a. plus the remuneration of the saving accounts (Poupança).

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Fabio Itikawa
Investor Relations Officer

For further information, please contact the Investor Relations department:

Investor Relations Department
Phone: (55 11) 3048-5419

About São Carlos
São Carlos Empreendimentos is one of the main companies in the sector of investment and administration of commercial properties in Brazil. Its goal is to maximize rental revenues and the real estate portfolio´s market value. Our business strategy includes investing in commercial properties, retrofitting our real estate and increasing rent, and disposing of already matured properties. We currently have a portfolio which includes mostly class A office buildings and convenience centers, located in the States of São Paulo and Rio de Janeiro.

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