Genial Malls FII Announces Acquisition of 45% of Rio Anil Shopping

The FII announced it will pay BRL 172 million, partially financed through a share issuance

Rodolfo Riechert, CEO of Genial Investimentos

By: SiiLA News

01/02/2025

Genial Investimentos, through the real estate investment trust (FII) Genial Malls (MALL11), announced this Friday (27th) the signing of a purchase and sale agreement to acquire 45% of Rio Anil Shopping, located in São Luís (MA), Brazil.

According to the disclosed document, the transaction, valued at BRL 172.2 million, will be paid in two installments.

The first installment, equivalent to 70% of the amount, will be financed using funds raised through the 6th Share Issuance of the FII. The remaining 30% will be paid using the FII’s cash reserves and a potential issuance of Real Estate Receivables Certificates (CRI).

The statement report states that the positive impact on operational revenue will be felt as early as February 2025, with an expected increase of BRL 0.09 per share per month.

Rio Anil Shopping

Inaugurated in 2010, Rio Anil Shopping has a gross leasable area (GLA) of 39.520 sqm. According to the disclosed information, the shopping mall attracts an average of 750,000 consumers per month and has recorded approximately BRL 583 million in sales over the past 12 months.

Among the brands present in the tenant mix are major retailers such as Renner, Riachuelo, C&A, Casas Bahia, and Kalunga, in addition to a variety of services such as a hospital, lottery outlet, gym, and educational institutions. The mall is managed by Allos.

MALL11

The acquisition is expected to be finalized in January 2025. Rio Anil Shopping will represent 12.2% of the FII’s proprietary GLA. This acquisition expands Genial Malls’ portfolio to 15 assets spread across six states, with a strong presence in the Northeast. According to disclosed data, the FII's proprietary GLA now exceeds 146,000 square meters.

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