LFTT11 — FII Loft II

LOFT II REAL ESTATE INVESTMENT FUND — CNPJ 24.796.967/0001-90. Residential paper-based Brazilian REIT-style fund (FII) for qualified investors, with only 8 unitholders and a P/BV of 0.07 (a 93% discount). No distributions paid since July 2022.

Segment: Residential (Paper) / Hybrid Paper Fund · Price R$ 2.1 · P/BV 0.068 · BV/unit R$ 30.86 · Net assets R$ 20,5 Mi · 8 unitholders

What is LFTT11

LFTT11 (FII Loft II) is a Brazilian REIT in the Residential (Paper) / Hybrid Paper Fund segment. LOFT II REAL ESTATE INVESTMENT FUND — CNPJ 24.796.967/0001-90. Residential paper-based Brazilian REIT-style fund (FII) for qualified investors, with only 8 unitholders and a P/BV of 0.07 (a 93% discount). No distributions paid since July 2022.

8 unitholders, no distributions for 4 years, P/BV 0.07 — unsuitable for secondary investment

This page gathers the factual snapshot of LFTT11 in 2026: what the fund is, what it invests in, what it charges, who manages it and how it got here. Opinion, score and recommendation live in the analysis; payout calendar and projections live in dividends.

LFTT11 numbers in 2026

Net assets: R$ 20,5 Mi
Book value per share: R$ 30.86
Number of shareholders: 8

Fees

Management fee: 0,20% a.a.
Performance fee: Not identified
Advisory fee: Not identified

Manager

Management: BTG Pactual Serviços Financeiros S.A. DTVM.

LFTT11's administrator is BTG Pactual Serviços Financeiros S.A. DTVM (CNPJ 59.281.253/0001-23), one of Brazil's largest securities distributors, with vast experience administering FIIs. The manager rating (7/10) reflects BTG's institutional quality as an administrator, but does not translate to management quality for this specific fund, given LFTT11's history of zero distributions and restricted context. Information regarding an independent active manager was not identified in the sources consulted.

Administrator CNPJ: 59.281.253/0001-23
Management Type: Ativa
Management fee: 0,20% a.a.

See our analysis of BTG Pactual Serviços Financeiros S.A. DTVM →

Concentration and diversification

Breakdown	Share
By state	Rio de Janeiro and São Paulo 100.0%

Price, P/BV and book value

last close R$ 2.1 · book value per unit R$ 30.86.

Liquidity and trading

Average daily volume (21 sessions) of R$ 79,010.

Extremely low liquidity — R$ 79k/day. Even small positions of R$ 100k take over 1 day to exit. Total fund market cap is only R$ 1.4M.

LFTT11 track record

The LFTT11 is a fund intended exclusively for qualified investors, with only 8 unitholders, which has not distributed income since July 2022. The P/BV of 0.07 suggests the market prices in that the fund's assets will not generate meaningful returns for secondary market unitholders. The Sep/2025 principal repayment may indicate a gradual capital return process — possibly a partial liquidation of assets.

Period	What happened
ORIGEM	Fund structured as a residential paper FII targeted at qualified investors.
ÚLTIMO RENDIMENTO	Last recorded distribution — R$ 3.6681/unit paid on 07/14/2022 referencing June 2022 earnings.
SEM RENDIMENTOS	Over 3-year period without any income distributions to unitholders.
AMORTIZAÇÃO	Fund carried out a unit principal repayment of R$ 0.21018050/unit in September 2025.
SITUAÇÃO ATUAL	Fund with a P/BV of 0.07, 8 unitholders, no distributions for 4 years, and practically nonexistent liquidity.