Top 3 Most Recommended Real Estate Funds (FIIs) for February 2026 – Analysts’ Picks
- Why Are Brick-and-Mortar FIIs Leading the Pack?
- BTG Pactual Logística (BTLG11): The Logistics Powerhouse
- XP Malls (XPML11): Shopping for Returns
- Kinea Rendimentos (KNCR11): The Paper Fund Dark Horse
- Other Contenders Worth a Look
- Full Rankings: February’s FII All-Stars
- Methodology & Disclaimer
- Q&A: Your FII Questions Answered
Brick-and-mortar real estate funds (FIIs) dominated analysts' recommendations for February 2026, with,, andleading the pack. As Brazil anticipates interest rate cuts starting in March, these funds are poised to benefit. Here’s a deep dive into the top picks, sector trends, and why these FIIs stand out.
Why Are Brick-and-Mortar FIIs Leading the Pack?
Brick-and-mortar FIIs, which invest directly in physical properties, are the darlings of analysts this month. With the Central Bank expected to slash rates soon, these funds—especially in logistics and shopping malls—are primed for growth. "Lower rates typically compress capital costs, boosting asset repricing and NAV expansion," notes Daycoval. Translation: juicy upside potential.
BTG Pactual Logística (BTLG11): The Logistics Powerhouse
BTLG11 isn’t just another logistics fund—it’s aplay, with warehouses strategically clustered within 60 km of the city. Monte Bravo highlights its strengths: lease renegotiations at higher rates, modernized facilities, and killer liquidity. Think of it as the FedEx of Brazilian FIIs—reliable, scalable, and always delivering (pun intended).
XP Malls (XPML11): Shopping for Returns
XPML11 is the mall operator with a twist: diversified tenants, recurring income, and what Daycoval calls "favorable return asymmetry." In plain English? Shoppers might haggle over prices, but investors won’t need to—this fund’s upside looks solid as rates drop. Pro tip: Keep an eye on its asset repricing potential.
Kinea Rendimentos (KNCR11): The Paper Fund Dark Horse
The lone "paper" FII (investing in real estate receivables) in the top trio, KNCR11 packs 83 CRIs indexed to Brazil’s CDI. BTG loves its liquidity and "hold-to-maturity" strategy. In a high-Selic world, that’s like finding a bond fund that actually pays—consistently.
Other Contenders Worth a Look
The second tier includes:
- Bresco Logística (BRCO11) & VBI Logística (LVBI11): More logistics bets.
- Mauá Capital Recebíveis (MCCI11): A paper fund with 5 nods.
- HSI Malls (HSML11): Another mall play.
Full Rankings: February’s FII All-Stars
| Fund | Ticker | Segment | Recommendations |
|---|---|---|---|
| BTG Pactual Logística | BTLG11 | Brick (Logistics) | 7 |
| Kinea Rendimentos | KNCR11 | Paper | 7 |
| XP Malls | XPML11 | Brick (Malls) | 7 |
| Bresco Logística | BRCO11 | Brick (Logistics) | 5 |
| VBI Prime Properties | PVBI11 | Brick (Office) | 5 |
Methodology & Disclaimer
Data sourced from 11 analysts including BTG Pactual, Daycoval, and XP Investimentos.Past performance ≠ future results. Always DYOR (Do Your Own Research).
Q&A: Your FII Questions Answered
Why focus on brick-and-mortar FIIs now?
With rate cuts looming, physical assets (like warehouses and malls) benefit from cheaper financing and higher valuations. It’s a classic cyclical play.
Is KNCR11 safe if rates stay high?
Its CDI-linked CRIs provide a cushion, but liquidity is key—thankfully, BTG calls it "excellent."
What’s the biggest risk?
Rate cuts delayed? Logistics oversupply? Keep tabs on macroeconomic shifts—this isn’t a "set and forget" game.
