Crédito imobiliário e mercado de capitais: como financiar incorporações no Brasil

Market Conversation is our editorial series consisting of interviews with leading figures in the market. We discuss with entrepreneurs, executives, and specialists from various segments, so you can stay informed about trends, market perspectives, and hot topics. In this episode, recorded during GRI Residencial 2026, Daniel Sznelwar, Founding Partner of TREE, talks with Álvaro Rezende, Managing Partner of Banco Fator, about the evolution of Brazilian mortgage lending, the role of the capital market, and new financing alternatives for developers. Throughout the interview, Álvaro analyzes the professionalization of the sector over the last two decades, highlighting instruments that have transformed the business environment in the country, such as fiduciary alienation, Real Estate Receivables Certificates (CRIs), and asset securitization. The conversation also presents Banco Fator's work in corporate insurance, investment management, and structuring financial operations focused on the real estate market, in addition to the institution's strategic focus on serving medium and medium-large developers throughout Brazil. One of the episode's highlights is the explanation of an innovative operation involving the purchase of off-plan units by real estate funds, which allows for generating cash flow for the project without increasing the developer's debt, creating new possibilities for financing real estate development. The episode also addresses the importance of data and market intelligence in the feasibility analysis of projects, considering factors such as inventory, sales velocity, and absorption potential of different real estate markets. In this video, you'll see: (01:06) About Álvaro (02:01) Market evolution (04:09) About Banco Fator (09:24) Credit origination and structuring (18:02) Construction financing operations Topics covered: • Mortgage lending • Capital markets • CRIs and securitization • Real estate funds • Real estate development • Project financing • Minha Casa Minha Vida (My House My Life program) • Market intelligence • Real estate data • Project feasibility Brain Inteligência Estratégica monitors the movements of the Brazilian real estate market to support safer decisions, reduce risks, and generate value for companies, investors, and developers. #RealEstateMarket #MortgageLending #CapitalMarkets