Cyrela Commercial Properties S.A Empreendimentos e Participações (now Syn Prop Tech) is a company in the real estate exploration segment that operates in areas such as acquisition, sale, leasing, development, and operations of commercial properties.
The company's focus, which has investments concentrated in São Paulo and Rio, is the construction of high-standard corporate buildings, as well as shopping centers. In addition to the states of São Paulo and Rio, the company also has projects in Goiás, Bahia, and Minas Gerais.
Although it was created in 2007, CCP comes from a 16-year path of experience from Cyrela Brazil Realty. In other words, CCP is the result of a spin-off, that is, the expansion of a company through another business.
Currently, Cyrela Commercial has about 244 thousand m² of leasable area in the regions where it operates.
The history of Cyrela Commercial Properties S.A Empreendimentos e Participações began in 2007, shortly after the partial spin-off from Cyrela Brazil. In summary, the company was incorporated into the Cyrela Group by Brazil Realty, thus forming Cyrela Commercial.
Thus, despite being young, the company already has several years of operation in the real estate market. This is because, in 1962, the Cyrela Group was exclusively dedicated to the activities of commercial building development. In this case, the construction of these was outsourced, as was the sale of the projects.
Through a joint venture, that is, a joint enterprise, Brazil Realty was created in 1994, between the shareholder controlling Cyrela and IRSA. The main objective of creating the company was to focus on the construction of high-standard corporate buildings, as well as leasing them.
In this case, Cyrela Commercial was established after Cyrela carried out a partial spin-off of the company. As a result, the activities related to the development and acquisition of buildings and shopping centers were concentrated in Cyrela Commercial.
After the spin-off, each shareholder who held any shares in Cyrela received one share in Cyrela Commercial, related to the shares of the previous company.
As part of the shopping center portfolio, the company includes the inauguration of Shopping Cerrado in 2011, in the city of Goiânia, as well as buildings like Miss Silvia Morizono and Shopping Cidade São Paulo, with 17,500 m² of gross leasable area and 160 stores.
Recently, the company began to be called Syn Prop Tech.
