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Iguatemi Finalizes Sale of Stake in Shopping Pátio Paulista for R$ 244.5 Million
- The transaction was carried out with FUNCEF, which already co-owns the mall and exercised its right of first refusal.
By: SiiLA News
08/06/2025 On Tuesday (5), Iguatemi completed the sale of a 10% stake in Shopping Pátio Paulista to the Fundação dos Economiários Federais (FUNCEF) for R$ 244.5 million.
Following the deal, Iguatemi now holds an 11.5% stake in the shopping center. FUNCEF, previously a co-owner, increased its ownership to 40.52%. BB Premium Malls also owns a 14.65% stake in the property.
The payment was structured in two parts: 70% was paid upfront at closing, while the remaining 30% will be divided into two equal annual installments, due on April 14, 2026, and April 14, 2027.
About the Mall
Opened 30 years ago, Shopping Pátio Paulista features a retail mix that includes brands like Chanel, Zara, Carter’s, and Sephora. The property is classified as a Class B mall, with a total GLA of 41,000 m² and 294 tenants.
Other Moves
Iguatemi is also negotiating the sale of another asset: Shopping Pátio Higienópolis. According to information obtained by REsource, the company plans to sell a 7% stake for R$ 170 million to an undisclosed financial investor.
Iguatemi currently owns 17 assets, including 15 shopping malls and two outlet centers, totaling 2,860 stores. The company also owns four office towers. According to its website, Iguatemi’s portfolio has a total gross leasable area (GLA) of 753,000 m², of which 481,000 m² is owned GLA.
Thirteen of its properties are located in São Paulo, four in Rio Grande do Sul, and one each in the Federal District, Rio de Janeiro, and Santa Catarina.
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