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(Reference retrieved automatically from SciELO through information on FAPESP grant and its corresponding number as mentioned in the publication by the authors.)

The financial instrumentalization of space: Real estate investment funds as fixed capital structures

Full text
Author(s):
Vinicius Nakama [1]
Total Authors: 1
Affiliation:
[1] Universidade de São Paulo - Brasil
Total Affiliations: 1
Document type: Journal article
Source: Revista INVI; v. 36, n. 103, p. 194-214, 2021-10-00.
Abstract

Abstract: In the current condition of financial dominance over the production processes, the growth and consolidation of the Real Estate Investment Funds (FII, Brazilian REIT) in the Metropolitan Region of São Paulo are designated as an increasingly relevant model of urban space instrumentalization and, therefore, of the constitution of a specific capital ownership regime whose centrality resides in interest and rent. Because of this, the present work demonstrates how the development of the instrument had repercussions on the metropolitan region of São Paulo since the global financial crisis of 2008. Furthermore, the FII was qualified as an autonomous large fixed capital structure that, in the light and determination of finances, engenders complex mechanisms of capital appropriation and reproduction through the urban space. The qualitative method used here demonstrates empirically the process of expansion of the FII over the metropolis, being later articulated in the theoretical debate. The work concludes that the real estate and financial entanglement, viable through sophisticated instruments, circumvents the barriers historically present in the real estate sector, taking it as a great vector for the expansion of financial capital. (AU)

FAPESP's process: 19/18881-0 - Real estate and infrastructure under the control of large corporations: financialization and metropolization of space in São Paulo of 21st Century
Grantee:Maria Beatriz Cruz Rufino
Support Opportunities: Regular Research Grants
FAPESP's process: 20/07497-1 - From financing to financialization: the restructuring of space by Real Estate Investment Trust in São Paulo
Grantee:Vinicius Kuboyama Nakama
Support Opportunities: Scholarships in Brazil - Master