Genesis Capital Acquires Stake in Iguatemi Assets, Including Shopping Malls, Multifamily, and Commercial Properties

By: SiiLA News

07/07/2025

In yet another major transaction in the real estate sector, Iguatemi S.A. has announced the sale of a significant stake in its portfolio to Genesis Capital. The deal, valued at R$500 million, includes interests in shopping malls, office buildings, and a future multifamily development.

According to a material fact released by the company, the transaction involves the sale of a 49% stake in the Market Place mall (São Paulo) and Galleria Shopping (Campinas), along with the Market Place Tower Building office complex. Also included are a 24% interest in a planned multifamily project at the Market Place complex and a 16.7% stake in a commercial development to be built at the Galleria site.

The payment will be made in stages: R$290 million was paid upfront at signing. Another R$20 million is scheduled for December 2025, and the remaining R$190 million will be paid in three equal annual installments from 2026 to 2028.

Despite the partial sale, Iguatemi will remain the majority stakeholder — holding 51% of the assets — and will continue to oversee the management and operation of the properties.

Diversified Portfolio

By: SiiLA

The deal includes assets considered strategic for Iguatemi. The Market Place mall, located in the Chucri Zaidan area of São Paulo, is one of the company’s most resilient assets, with a vacancy rate of just 3% and operational performance of R$6.8 million in the last quarter, according to the company's report.

Meanwhile, Galleria Shopping in Campinas is a class B asset, with a vacancy rate of 28% and operational performance of R$8.3 million.

In the office segment, Market Place Tower consists of two class A+ towers integrated into the shopping center. One tower is fully leased, while the other has a 24% vacancy rate, according to data from SiiLA’s Market Analytics platform. Tenants include LG Electronics, Sky, WeWork, Fúria, and Intel — reflecting a broad mix of industries.

Last year, Iguatemi had already revealed to REsource its plans to modernize and retrofit the Market Place complex. Read the full article.

Betting on Multifamily

One of the highlights of the transaction is the addition of a multifamily component to Iguatemi’s portfolio. The company plans to develop a rental residential tower within the Market Place complex, aligning with a growing trend in Brazil’s real estate sector — particularly in high-density areas with strong potential for recurring income.

Details on the multifamily project and the new commercial building planned for the Galleria complex have not yet been disclosed.

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