Ludmila Arruda Braga

A significant part of her practice involves foreign institutional capital. Ludmila developed and leads the firm's Singapore Desk, is a member of its Singapore Desk, and co-founded the Singapore–Brazil Friendship Group, a government-supported initiative to strengthen ties between investors and institutions in both countries. Her recent matters include advising Agrícola Xingu (Mitsui Group) on the sale of approximately 47,800 hectares of farmland to SLC Agrícola (BRL 913 million); Live Nation on its joint venture with Cidade Center Norte to develop Brazil's first world-class entertainment and sports arena (over BRL 1 billion); Greystar on the structuring of a multifamily platform in São Paulo; and JP Morgan on a nationwide real estate regularization mandate. She also advises clients such as CPPIB, GIC and Goodman, and BNDES on Furnas' divestment plan, spanning more than 230 real estate assets.

Private, public and state-owned clients also seek her counsel on sustainable projects and impact-investing structures in real estate, applying an interdisciplinary approach — regulatory, tax, zoning and corporate. In agribusiness and forest investments, Ludmila is a reference in aligning transactions with the legal restrictions on the acquisition and rural lease of real estate by foreign capital. She writes and is frequently sought out on the sector's most current issues — from the new mining regulatory framework, in a contribution to Valor Econômico, to the impact of Brazil's tax reform on real estate — delivers practical masterclasses to industry leaders at the invitation of the GRI Institute, and takes an active role in advancing Brazil's economic and investment agenda at international forums such as Brazil Week in New York.

• JP Morgan: nationwide real estate regularization mandate for a legacy residential portfolio originated by Banco Hipotecário Lar Brasileiro (BRL 200 million).
• Oncoclínicas / Virgo Securitização: BRL 390 million public offering of CRIs, backed by debentures, financing a build-to-suit healthcare development.
• Lúcio Incorporadora, Stan Desenvolvimento and Paladin: SPV structuring and investment/shareholders' agreements for the Instituto Pensi/Instituto Sabará build-to-suit research center (BRL 600 million).
• Axia Energia: structuring and public offering of a real estate fund (FII) to segregate and monetize non-core assets (BRL 250 million, first tranche); and a land swap of a prime Brasília asset with Lotus Incorporadora for a high-end residential development (BRL 600 million).
• Mahindra Brasil: negotiation of a long-term municipal concession in Dois Irmãos (RS) for a new manufacturing plant expected to triple the company's Brazilian capacity (estimated BRL 100 million).
• Keppel Capital: successful defense before the São Paulo State Court (TJ-SP) against a veil-piercing and fraud claim, protecting the client's majority investment in MaxCasa XXX (BRL 40 million).
• Allos: sale of interests and quotas in real estate funds relating to six shopping malls to VISC11 (Vinci Partners) (BRL 537 million).
• Ambev (Corona): structuring of the real estate intervention (air rights) for Corona's centennial campaign on preserving beach sunsets — entered at the Cannes Lions festival.
• Eneva: advice on a competitive public bid for a strategic energy-sector property in Aracruz (ES).

Landmark matters:

• CPPIB and Cyrela: joint venture of up to BRL 1 billion to develop a residential portfolio in São Paulo — one of the first institutionally-owned multifamily platforms in operation in Brazil.
• Goodman and the APG/CPPIB/First State Super/GIC consortium: joint venture for the development and acquisition of logistics assets in Brazil, with a US$ 700 million investment target.
• GIC: acquisition of commercial suites at the CEO Corporate building (Rio de Janeiro) and of PETROS's stake in the Grand Plaza Shopping real estate fund.
• BNDES (Eletriza Consortium): real estate, capital markets and regulatory advice on Furnas' divestment plan, covering more than 230 real estate assets.
• Real estate aspects of the sale of 90% of TAG to Engie/CDPQ (final offer of US$ 8.6 billion).

• Recommended in Real Estate & Tourism – Latin Lawyer 250, 2023-2024
• Recognized as Band 5 in Real Estate – Chambers & Partners Brazil, 2022-2023
• “Ludmila is extremely attentive, responsive and creative in the solutions she proposes, always aiming at solutions that meet the needs of the business, without creating unnecessary obstacles. Throughout the process, she demonstrated remarkable knowledge in the disciplines of Real Estate and Capital Markets, clear and assertive communication, willingness and availability, in addition to commendable ability in interpersonal relationships, both with the client and with others.’ And ‘Ludmila Braga is a professional with full knowledge of the profile of our company, in addition to having absolute mastery of the topics she leads. Her determination and sense of urgency bring very positive results.” – The Legal 500, 2023
• Recognized in four categories: Specialty: Real Estate, Food, beverages and tobacco, Packaging and São Paulo – Análise Mulher, 2023
• Recommended in Real Estate & Tourism – Expert Guides Women In Business Law, 2022
• "Ludmila Arruda Braga is a tremendous real estate lawyer, involved in domestic and international complex transactions." And "Ludmila has the outstanding ability to make complex matters seem simple to the client." – Chambers & Partners Brazil, 2022
• Recognized as Band 5 in Real Estate – Chambers & Partners Global, 2022
• Recognized in two categories: Real Estate and Packaging – Análise Mulher, 2022
• Mentioned as Excellent in Real Estate - Leaders League Brazil Best Counsel, 2018