1. BRProperties
2Q11 Earnings Release Presentation

2. Highlights
 2Q11 Net Revenues totaled R$ 83.6 million, an increase of 92% in relation to 2Q10, when net
revenues came in at R$ 43.4 million;
 Adjusted EBITDA of R$ 77.4 million in 2Q11, an increase of 104% over 2Q10 and an Adjusted
EBITDA margin of 93%, the highest ever recorded by the company;
Financial
Highlights  Net Income totaled R$ 158.8 million at the end of 2Q11, impacted by a gain on appraisal of
investment properties of R$167.9 million (R$122.8 million net of taxes). Therefore, an increase of
484% in relation to 2Q10, when our net income totaled R$27.2 million;
 Adjusted FFO totaled R$35.8 million in 2Q11, with an FFO margin of 43%.
 Leasing spreads (net of inflation) for renegotiations reached 24.5% and 15.7% in office and retail
properties, respectively, while leasing spreads for new lease up of vacant areas reached 14.3%
and 28.3% in office and industrial properties, respectively;
 We experienced a significant decrease in the portfolio’s vacancy level, where financial
vacancy totaled 2.3% at the end of 2Q11, a 63% reduction when compared to 1Q11, which
Operating
totaled 6.2%. Physical vacancy represented 1.5% of GLA at the end of quarter. It is important to
Highlights mention that our office, industrial, and retail properties were 99.2%, 99.3%, and 100.0%
occupied at the end of the quarter, respectively;
 The company has concluded a R$690.3 million equity offering by issuing 40.3 million ordinary
shares – including greenshoe – at R$17.15 per share. The proceeds from the issuance will be
dedicated exclusively to the acquisition of commercial properties.
BRProperties 2 2Q11

3. Portfolio
2Q11 Revenue Breakdown
11%
Straight-line 45% Of f ice
Leasing
3% Industrial
95%
Services 43%
2% Retail
Portfolio Breakdown Portfolio Breakdown
(% market value) (% GLA)
3% 14%
9%
22%
8%
33% 55%
57%
Office Industrial Retail Development Office Industrial Retail Development
BRProperties 3 2Q11

4. Financial Highlights
Net Revenues (R$ thousand) Net Income* (R$ thousand)
483%
105%
484%
181.166
92% 161.353 158.809
83.576 78.697
43.430 31.072
27.204
2Q10 2Q11 6M10 6M11 2Q10 2Q11 6M10 6M11
* Impacted by a net gain on appraisal of investment properties
of R$122.8 million.
BRProperties 4 2Q11

5. Financial Highlights
Adjusted EBITDA (R$ thousand) Adjusted FFO (R$ thousand)
59%
93%
91% 44%
43%
37%
87% 88%
113% 74%
39%
147.256 59.700
104%
77.395 35.824 34.390
69.211
25.745
37.949
2Q10 2Q11 6M10 6M11 2Q10 2Q11 6M10 6M11
Adjusted EBITDA Margin FFO Margin
Adjusted EBITDA (R$ thousand) Adjusted FFO (R$ thousand)
93%
43%
90% 31%
11% 50%
77.395
35.824
23.876
69.861
1Q11 2Q11
1Q11 2Q11
Ajusted EBITDA Margin
FFO Margin
BRProperties 5 2Q11

6. Debt
2Q11 Net Debt (R$ mn) 2Q11 Debt Index Breakdown
1.887 2.087 410
1.677
24%
TR
2%
IGPM
176 24 CDI
75%
ST Debt Obligations LT Debt Total Debt Cash Net Debt
f or
Acquisitions
Debt Service Schedule (R$ mn)
Principal
129 332
129 158 Interest
161 179
156
61 155
183 141
171 153 26
134 117 14
99 95 68 54 39 32 22
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
BRProperties 6 2Q11

7. Operating Highlights
Market Alignments New Leases
24,5% 28,3%
22,7% 22,6%
15,7% 15,7%
12,7% 12,6% 15,6%
14,3% 14,7%
Office 13,8% 14,0% 13,2% Office
10,6%
Industrial Industrial
9,0%
6,6% Retail Retail
n/a n/a n/a n/a n/a n/a n/a
2Q10 2Q11 6M10 6M11 2Q10 2Q11 6M10 6M11
Leasing Spread - Market Alignments* 2Q11 2Q10 var % 6M11 6M10 var %
Leasing Spread - Office 24,5% 12,7% 92% 22,7% 12,6% 80%
Leasing Spread - Warehouse n/a 10,6% n/a 22,6% 6,6% 241%
Leasing Spread - Retail 15,7% n/a n/a 15,7% n/a n/a
Renegotiated Area - Office (sqm) 9.330 944 888% 24.004 944 2442%
Renegotiated Area - Warehouse (sqm) - 10.223 -100% 14.798 16.792 -12%
Renegotiated Area - Retail (sqm) 97.431 n/a n/a 97.431 n/a n/a
Leasing Spread - New Leases* 2Q11 2Q10 var % 6M11 6M10 var %
Leasing Spread - Office 14,3% 13,8% 4% 14,7% 9,0% 64%
Leasing Spread - Warehouse 28,3% 14,0% 102% 15,6% 13,2% 19%
Leasing Spread - Retail n/a n/a n/a n/a n/a n/a
Leased Area - Office (sqm) 17.444 9.102 92% 25.787 17.625 46%
Leased Area - Warehouse (sqm) 5.130 1.883 172% 18.019 7.167 151%
Leased Area - Retail (sqm) n/a n/a n/a n/a n/a n/a
* Leasing spreads are net of inflation
BRProperties 7 2Q11

8. Operating Highlights
We showed a financial vacancy of 2.3% for the period, a 63% decrease when compared to 1Q11.
Vacancy Breakdown Financial Vacancy per Segment
8,1% 5,5%
Of f ice
6,2% Industrial
Physical
Retail
Financial
3,8%
3,1%
2,3% 1,6%
1,5%
0,7% 0,7%
0,0% 0,0%
2010 1Q11 2Q11 1Q11 2Q11
Vacancy per Property 2Q11
Property Type Financial Physical
CBOP - Jacarandá Office 1,36% 0,73%
Midas Office 0,06% 0,04%
Ventura II Office 0,21% 0,03%
Total Office 1,6% 0,8%
BP Jundiaí Industrial 0,04% 0,10%
Piraporinha Industrial 0,65% 0,59%
Total Industrial 0,7% 0,7%
Total Portfolio 2,3% 1,5%
BRProperties 8 2Q11

9. Operating Highlights
Lease Contract Expiration Schedule
% Revenues % GLA
69% 62%
7% 22% 31%
3% 2% 5%
2011 2012 2013 >2013 2011 2012 2013 >2013
Lease Contract 3 Year Market Alignment Schedule
% Revenues % GLA
20%
26%
20%
27% 19%
15%
42%
32%
2011 2012 2013 >2013 2011 2012 2013 >2013
BRProperties 9 2Q11

10. Operating Highlights
Managed Properties
39%
36%
Managed Properties # Managed GLA
Athenas 1 6.718
+4 Gloria 1 5.969
Henrique Schaumann 1 14.045
30 Joaquim Floriano 1 3.899
Mairynk Veiga (MV9) 1 12.511
Santo Antonio 1 4.009
26
São José 1 5.043
Icomap 1 8.802
2Q10 2Q11 Vargas 1 13.448
% GLA Under Management Panamerica Park 9 45.020
Ouvidor 1 7.802
Property Management Revenues Jacarandá 1 31.766
(R$ thousand) BP Jundiaí 1 53.345
Cond. Indl. São José dos Campos 1 73.199
BP Jandira 2 34.424
65% BP Itapevi 1 33.526
TNU 1 22.450
RB 115 1 13.500
105%
2.827 Plaza Centenário 1 6.671
Indaiatuba 1 9.969
1.768 1.712 DP Araucária 1 42.697
863 TOTAL 30 448.812
2Q10 2Q11 6M10 6M11
BRProperties 10 2Q11

11. Stock Performance
50% GP
BRPR3
5,6% Laugar
40% IBOV 3,2%
IMOB Silverpeak
30% 1,0%
GIC
20% 6,4%
Management
10%
0,7%
0%
-10%
-20%
-30%
 Current number of shares: 180,003,919
 Market Value: R$ 2.9 billion
 Average Daily Vol. (30d): R$ 12.3 million Other
83,0%
* As of August 11th, 2011
Stock Performance (BRPR3) 2Q11 2Q10 var % 6M11 6M10 var %
Total Number of Shares * 174.753.919 139.391.381 25,4% 174.753.919 139.391.381 25,4%
Free Float (%) 99% 99% 0,0% 99% 99% 0,0%
Stock Price (average for the period) 17,66 12,16 45,2% 17,49 12,33 41,8%
Stock Price (end of period) 17,50 12,85 36,2% 17,50 12,85 36,2%
Market Cap end of period (R$ million) 3.058,2 1.791,2 70,7% 3.058,2 1.791,2 70,7%
Average Daily Trading Volume (R$ million) 10,85 3,34 224,9% 9,58 4,81 99,2%
Average Daily Traded Shares 616.953 276.203 123,4% 548.476 387.351 41,6%
Average Daily negotiations 688 89 672,9% 573 130 340,8%
BRProperties 11 2Q11

12. IR Contacts
Investor Relations
Pedro Daltro
CFO & Investor Relations Officer
Leonardo Fernandes
Investor Relations Manager
Marcos Haertel
Investor Relations Analyst
Phone: (55 11) 3201-1000
Email: ri@brpr.com.br
www.brpr.com.br/ri
BRProperties 12 2Q11