GP Investments, an alternative asset investment firm in Latin America, has sold its remaining stake in Brazilian commercial property company BR Properties. GP Investments founded BR Properties in 2006 with an initial investment of US$25 million from, in part, its private equity fund GP Capital Partners III (GPCPIII). GPCPIII invested a total of US$49.2 million in BR Properties, which generated returns of US$127 million, resulting in a cash-on-cash multiple of 2.1x and an IRR of 22.3%. Taking into account investments made through GPCPIII as well as co-investment vehicles and direct investments, GP Investments received total proceeds of US$134.8 million from the sale.