HSI Malls Divests a Portion of Shopping Center in MG to Fuel Expansion Plans

Located in Uberaba, Minas Gerais, this Class B property spans 115,000 m² of land and 25,111 m² of Gross Leasable Area (GLA). Operated by Alqia, the mall features 188 stores and 1,190 parking spaces. Among the main brands present at the location are: Renner, C&A, Riachuelo, Pernambucanas, Magazine Luiza, Casas Bahia, Lojas Americanas, Madero, Burger King, McDonald’s, Kopenhagen, Vivara, Farm, Track & Field, Reserva, and Samsung. The mall's occupancy rate for the third quarter of 2024 is 97.54%.

In a statement, Felipe Gaiad, Managing Partner of HSI Fundos Imobiliários, highlighted that the shopping mall's operating profit has grown by over 50% since HSI Malls acquired the asset two years ago. "The expansion will bring another cycle of significant appreciation in the medium term."

Shopping Uberaba continues to deliver solid results. Just a few months after the acquisition, the mall began operating with an NOI margin of approximately 90% (compared to 80% pre-acquisition). "We see this as a very timely opportunity to strengthen the fund's portfolio and position it for sustainable growth through our active management approach and strategic understanding of the demands and opportunities of each asset and its region," he said.

Moreover, the shopping mall sector has proven to be resilient, particularly among operators who are attentive to new consumer demands, attracting more visitors and increasing dwell times within their facilities.