Subdivision arm of Brazil developer MRV files for potential IPO

SAO PAULO, Aug 28 (Reuters) - Urba, the residential and commercial subdivision arm of Brazilian real estate developer MRV Engenharia e Participacoes SA MRVE3.SA, has filed for a potential initial public offering, according to a Friday securities filing.

Urba would use the proceeds of the potential IPO for capital expenditures and to expand its land bank. The process will be coordinated by Banco BTG Pactual SA BPAC3.SA, Banco Itau BBA SA, Banco Bradesco BBI, Banco Santander Brasil SA SANB3.SA and Caixa Economica Federal.

Brazil has seen a glut of real estate firms file for potential IPOs in recent months. MRV, focused mainly on the lower- and middle-income segment, is Latin America's largest real estate firm.

(Reporting by Aluísio Alves; Writing by Gram Slattery; Editing by Leslie Adler)

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