NVHO11 — Novo Horizonte Real Estate Fund (FII)

Segment: Healthcare / Brick-and-mortar (single-asset) · Price R$ 12.79 · P/BV 0.7709 · BV/unit R$ 16.59 · Net assets R$ 689 Mi · 1,658 unitholders · 1 assets

What is NVHO11

NVHO11 (Novo Horizonte Real Estate Fund (FII)) is a Brazilian REIT in the Healthcare / Brick-and-mortar (single-asset) segment.

Zero vacancy and 32% book discount vs. negligible liquidity and Qualified Investor restriction

This page gathers the factual snapshot of NVHO11 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.

NVHO11 numbers in 2026

  • Net assets: R$ 689 Mi
  • Book value per share: R$ 16.59
  • Number of shareholders: 1,658
  • Assets in portfolio: 1
  • Gross leasable area: 30,359 sqm (Hospital São Luiz — 4 blocks)
  • Occupancy: 100.0%

Fees

  • Management fee: 0,10% a.a.
  • Performance fee: Not identified

Manager

Management: Genial Investimentos (not confirmed as formal manager).

The formal manager of NVHO11 was not nominally confirmed in this lite analysis. The fund's website points to Genial Investimentos, but there is no formal confirmation in the available data. The administrator is Plural S.A. Banco Múltiplo (CNPJ 45.246.410/0001-55). The management fee of 0.10% p.a. is one of the lowest on the market, and no performance fee was identified — a very lean cost structure. There is no verified management history to evaluate track record.
  • Administrador: Plural S.A. Banco Múltiplo
  • Fund inception: 28/07/2014
  • Taxa de adm: 0,10% a.a.

NVHO11 portfolio: what the fund invests in

Single-asset FII — Hospital São Luiz (4 blocks), São Paulo, SP

AssetLocation% of NAVOccupancy
Hospital São Luiz (4 blocks)São Paulo, SP100.0%1.0%

Price, P/BV and book value

last close R$ 12.79 · all-time low R$ 6.50 · high R$ 58.00 · book value per unit R$ 16.59.

Liquidity and trading

Average daily volume (21 sessions) of R$ 1,070.

Extremely low liquidity: R$ 1,070/day average over the last 30 days. Practically illiquid — any position above R$ 5,000 takes multiple days to trade without moving the price.

NVHO11 track record

PeriodWhat happened
CONSTITUIÇÃONVHO11 was established on 07/28/2014 (CNPJ 17.025.970/0001-44), administered by Plural S.A. Banco Múltiplo. Development-for-yield mandate focused on the healthcare segment. Target audience restricted to Qualified Investors since inception.
OPERAÇÃO ESTÁVELOperating period for Hospital São Luiz with IGP-M-indexed leases. The fund has maintained cash distributions over the years with historically zero vacancy — a typical characteristic of long-term healthcare leases with established operators.
SITUAÇÃO ATUALQuote at R$ 11.23 with a 32% discount to book value of R$ 16.59. 12-month dividend yield of 11.12%. Reduced unitholder base (1,664) and daily trading volume of just R$ 1,070. Next distribution of R$ 0.0866 per unit scheduled for 08/10/2026.