NewPort Logística Fundo de Investimento Imobiliário Responsabilidade Limitada (CNPJ 32.527.626/0001-47). IPO in Oct/2019. Administered by Banco Genial S.A.; managed by NewPort Real Estate Gestora de Recursos Ltda.
Segment: Brick · Logistics · medium quality · Price R$ 102.52 · P/BV 0.8086 · BV/unit R$ 126.79 · Net assets R$ 356 Mi · 7,113 unitholders · 2 assets
NEWL11 (NewPort Logística FII) is a Brazilian REIT in the Brick · Logistics · medium quality segment. NewPort Logística Fundo de Investimento Imobiliário Responsabilidade Limitada (CNPJ 32.527.626/0001-47). IPO in Oct/2019. Administered by Banco Genial S.A.; managed by NewPort Real Estate Gestora de Recursos Ltda.
Owner of two high-standard logistics warehouses in Goiânia and Caxias do Sul, fully leased to major corporations under long-term contracts, distributing rental proceeds as monthly income. Note: the largest tenant, representing one-third of revenue, announced its exit in 2027.
This page gathers the factual snapshot of NEWL11 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.
Management: NewPort Real Estate Gestora de Recursos Ltda..
NewPort Real Estate is a boutique asset manager focused on value-add logistics and industrial real estate, with a recognized track record: NEWL11 leads the return ranking among logistics FIIs since its Oct/2019 IPO, delivering 120% of the CDI and IFIX +7.08% p.a. Disciplined in origination (acquisition cap rates between 10% and 12% — Caxias 11.97%, Goiânia 10.1%), leverage (CRI structured to reduce early-year pressure, 4.3× coverage), and distribution (semi-annual extras). In December 2025, it sold NewLOG Sorocaba at an 18.6% IRR (1.9× cash-on-cash). Banco Genial acts strictly as administrator (custody, fiduciary); strategic management, acquisitions, and leasing are handled entirely by NewPort. The core test now: executing the transformation of NewLOG Caxias do Sul into urban income before September 2027 without allowing a structural drop in revenue.See our analysis of NewPort Real Estate Gestora de Recursos Ltda. →
| Asset | Location | % of NAV | Occupancy |
|---|---|---|---|
| NewLOG Goiânia | Av. Perimetral Norte, Goiânia/GO | 100.0% | 1.0% |
| NewLOG Caxias do Sul | RS-122, Caxias do Sul/RS | 100.0% | 1.0% |
| Capitânia Logística I FII | — | 3.7% | — |
| Capitânia Securities II FII | — | 3.5% | — |
HHI 0.471 — alta.
| Breakdown | Share |
|---|---|
| By state | Centro-Oeste 67.6% · Sul 32.4% |
| By tenant | Brinox 32.7% · Softys 32.8% · Coty 24.4% · Hypera Pharma 9.9% |
| By index | IPCA 42.6% · IGP-M 57.4% |
A P/BV ratio of 0.81 indicates the unit trades 19% below its book value of R$ 130.44. The discount reflects the Brinox event and the tight cash flow window between Jun/26 and Sep/27 — it is not an unearned discount.
last close R$ 102.52 · all-time low R$ 89.73 · high R$ 144.99 · book value per unit R$ 126.79.
Average daily volume (21 sessions) of R$ 415,000 · 12-month average of R$ 380,000.
Low-to-moderate liquidity. A R$ 1M position takes ~12 trading days to liquidate while absorbing 20% of daily volume. For retail investors (≤ R$ 100k), liquidity is adequate (1-2 days). Larger peers such as BTLG11/HGLG11 feature 5-10× higher liquidity.
| Period | What happened |
|---|---|
| Fund inception with the acquisition of NewLOG Caxias do Sul | NEWL11's 1st offering with trading commencement on B3 in Oct/2019. Immediate acquisition of the NewLOG Caxias do Sul warehouse (R$ 82.4M, 40,719 sqm GLA, 11.97% cap rate) with Brinox as the sole tenant under a 12-year atypical lease. |
| Brinox deferral agreement + recovery | In June 2020, at the height of the pandemic, NewPort negotiated a temporary deferral with Brinox to preserve the relationship. DPU dropped to R$ 0.30/unit in Jun/20 (from R$ 0.70). Rapid recovery — by 2H2020 it was back to R$ 0.80/unit, reflecting tenant resilience. |
| Transformational acquisition of NewLOG Goiânia (R$ 231M) | Acquisition of NewLOG Goiânia (R$ 231M, 70,318 sqm GLA, 10.1% cap rate), funded by R$ 91M in equity (2nd offering) + R$ 140M via CRI (IPCA + 5.60%, 121 months, maturing 05/28/2031). 3 AAA tenants: Hypera, Coty, Softys. Acquisition of NewLOG Sorocaba (R$ 6.2M) in Jun/2021 as a complementary asset. |
| 3rd unit offering | 3rd offering completed in March 2024, expanding the unitholder base and NAV. Units outstanding rose to 2.81 million. Consolidation as a relevant FII in the logistics segment. |
| Positive revaluation and CRI IPCA adjustment | Annual revaluation: Goiânia +5.4% (R$ 305.5M), Caxias +4.17% (R$ 136.9M). Total portfolio +38.6% over acquisition cost. The Goiânia CRI was adjusted by period inflation (+5.32%), increasing the outstanding debt balance — impacting BV per unit. |
| NewLOG Goiânia Expansion Project Approval | Management advances 3 new bays at NewLOG Goiânia (G100, G200, G300, totaling 42.7k sqm additional GLA). In the legal approval and feasibility study phase. Expressed interest from new tenants. |
| Sale of NewLOG Sorocaba at an 18.6% IRR | Sale of NewLOG Sorocaba for R$ 9.0M (vs. R$ 6.2M acquisition cost in 2021), 44.9% above cost. Closes the cycle with an 18.6% IRR and 1.9× cash-on-cash return. Real estate capital gain of ~R$ 0.86/unit integrated into the distribution base. Dec/25 DPU was R$ 1.08 (semi-annual extra). |
| Increase in recurring DPU to R$ 1.00/unit | Start of 1H/2026: management raises recurring DPU baseline from R$ 0.95 to R$ 1.00/unit/month (11.2% annualized DY on unit price). Clear message: sustainable and growing trajectory fueled by Sorocaba capital gains and contractual adjustments. |
| Brinox notifies exit from NewLOG Caxias do Sul | On 03/17/2026, Brinox notified its intention to fully return the property. It will fulfill an 18-month notice period (until ~Sep/2027) and pay scheduled penalties. NewPort announces a transformation plan for the asset into urban income — execution is the fund's strategic test over the next 18 months. |