BBIG11 REIT Signs Memorandum of Understanding to Sell 9% Stake in Shopping Pátio Paulista for R$ 226.9 Million

The acquisition of the stake will be split between Iguatemi and the mall’s own fund, Shopping Pátio Paulista FII (SPP FII)

BB Asset Management President Gustavo Pacheco Lustosa

By: SiiLA News

02/20/2026

Last Thursday (12), the real estate investment fund BB Premium Malls (BBIG11) announced, through a material fact filing, the signing of a Memorandum of Understanding (MOU) for the sale of a 9% stake in Shopping Pátio Paulista, in São Paulo, for a total amount of R$ 226.9 million.

The buyers will be Iguatemi and the Shopping Pátio Paulista FII (SPP FII), with the acquisition split equally: 4.5% each.

SPP FII’s portion will be paid in full in cash at closing, while Iguatemi will pay in three installments: 70% upfront, 15% in 12 months, and the remaining 15% in 24 months, with future installments adjusted according to the DI rate variation.

If the transaction is completed, its stabilized cap rate, calculated by SiiLA’s research team, would be approximately 6.7%. REsource contacted the parties involved in the transaction for further information but has not yet received a response.

Shopping Pátio Paulista

Façade of Shopping Pátio Paulista

The mall, a Class B asset inaugurated on November 12, 1989, comprises 41,000 sqm of land area and 9,900 sqm of GLA. With 294 stores, the property includes five anchor tenants, four megastores, nine movie theaters, a food court, a gaming area, and 1,005 covered parking spaces.

Key tenants include Calvin Klein, MAC, Victor Hugo, Sephora, Zara, and Camicado.

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