Southeastern Asset Management Comments on BR Properties

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Jul 20, 2016

We sold BR Properties (BSP:BRP3, Financial), Brazil’s largest commercial office real estate landlord, following the stock’s rise after GP Investments raised its bid for the company. In spite of high quality properties and a solid partner in Claudio Bruni, the highly challenged Brazilian environment and concurrent currency depreciation resulted in a dollar loss over our full holding period.

From Southeastern Asset Management's International Fund second quarter 2016 commentary.

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