ALLOS Signs a Sale Commitment of US$ 86.1 Million For Two Shopping Malls

The multimillion-dollar transaction involves Boulevard Shopping Bauru and Shopping Jardim Sul

The developments are located in the cities of São Paulo and Bauru | Photo: Disclosure

By: SiiLA News

10/09/2023

The shopping mall company ALLOS has announced, through a market statement, that the company is selling two developments. The purchase and sale commitment concern 60% of Shopping Jardim Sul and 43% of the stake in Boulevard Shopping Bauru.

The total value of the combined transactions is R$ 444.4 million (US$ 86.1 million*).

On the other side, we have Hedge, which is investing in shopping malls. For Shopping Jardim Sul, the company will be paying R$ 343.8 million (approximately US$ 66.6 million*), and for Boulevard Shopping Bauru, the amount is R$ 100.6 million (approximately US$ 19.4 million*)

Jardim Sul is a prestigious Class A shopping center located in São Paulo. Subscribers to the GROCS platform gain exclusive access to comprehensive property details and transaction information, including a detailed Cap Rate investment analysis.

The development is located in São Paulo, in the Vila Andrade neighborhood, in the Morumbi region. Its main stores include Renner, C&A, and Pão de Açúcar, but it also features boutiques like Arezzo, Vivara, Le Lis, Shoulder, Schutz, and others.

Hedge Fund Invests Over R$ 100 Million in Stake at Boulevard Shopping Bauru

Boulevard Shopping Bauru is the other asset involved in the transaction | Photo: Disclosure

Boulevard Shopping Bauru, located in the city of Bauru, houses stores such as Renner, Riachuelo, Centauro, Farm, and others, as well as entertainment options like cinema and bowling.

Both shopping mall will be integrated into the HGBS11 fund, which has an occupancy rate of 91.5% (as of the reference date 01/07/2023) and includes properties in its portfolio such as Shopping Penha, Shopping Villalobos, Tivoli Shopping, and others.

*Real to dollar exchange rate as of October 6, 2023, at 05 p.m.

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