ALLOS to Exit: Via Parque Shopping Welcomes New Manager Focused on FVPQ11's Financial Recovery

• Read more: Via Parque Shopping FII Halts Income Distribution Amid Vacancy and Default Issues

Contacted by REsource, ALLOS stated that it initiated the decision to step away from managing the shopping center. The company cited misalignment with the fund's administrator on pursuing substantial investments to change the mall’s trajectory as the primary reason for its exit. ALLOS also announced it would discontinue its services for leasing, back-office operations, management, and parking as of January 2025.

"The decision was driven by misalignment with the fund's administrator on supporting a more significant investment to alter the current trajectory of the shopping center. ALLOS is also rescinding services for mall leasing, back-office operations, condominium management, and parking as of January 2025," the company stated.

The change in management will save R$ 0.06 per share monthly, as highlighted in the material fact. Rio Bravo selected Alqia through a competitive process in which ALLOS did not participate.

Alqia, formerly Saphyr, oversees the management of 11 shopping centers across Brazil, totaling over 450 thousand m² of gross leasable area (GLA). The company is part of the HSI group, which manages over R$ 13.5 billion in assets and has raised more than R$ 27.5 billion. In private equity, HSI has developed over 830,000 m² of GLA in shopping centers.

As of this report’s publication, neither Alqia nor Rio Bravo had responded to requests for comment.