 Brazilian retailer GPA has sold 16 real estate assets to a pair of local funds for 446 million reais 87.1 million, it said on Wednesday, a step forward in the companys plan to free up resources via real estate sales. In a securities filing, GPA, which is controlled by Frances Casino Guichard Perrachon SA, said it had sold 16 buildings to TRX Real Estate Fundo de Investimento Imobiliário and TRX Real Estate II Fundo de Investimento Imobiliário, both of which are run by asset manager TRX Gestora de Recursos. 