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JHSF Finalizes Sale of Stake in Ponta Negra Mall and Reinforces Focus on the High-End Market Segment
- Since the beginning of 2024, the company has completed stake sales totaling over R$700 million through M&As.
- Data from the GROCS platform, provided by SiiLA, indicates that the cap rate for the transaction is 5.51%.
By: SiiLA News
01/10/2025 JHSF has sold an 18% stake in Ponta Negra Mall, located in Manaus, Amazonas, for R$82 million. Data from the GROCS platform, provided by SiiLA, indicates that the cap rate for this transaction is 5.51%.
According to the company, this sale marks the beginning of its divestment cycle in two malls that do not align with its strategy of focusing on the high-end market segment.
In addition to this transaction, the company also announced that it is divesting from Bela Vista Mall in Salvador, where its stake will be reduced to 1% following the sale of 10.7%. JHSF stated that the transaction is underway, but no expected completion date has been provided.
Since the beginning of 2024, JHSF has completed stake sales through M&As totaling over R$700 million. For Augusto Martins, CEO of JHSF, these transactions represent a “successful capital recycling” in “attractive conditions,” led by JHSF Capital, the group’s financial arm.
Recent JHSF Transactions
In November 2024, the company finalized the sale of a 32.5% stake in controlled entities that will develop the Shops Faria Lima project, a development set to be located on Faria Lima Avenue in São Paulo. The transaction, valued at R$290.1 million, was purchased by XP Malls. JHSF retained a 67.5% stake in the asset.
Another asset with a completed sale in October 2024 was the Catarina Fashion Outlet, located in São Roque (SP). JHSF sold 17.99% of its stake to XP Malls for R$113.6 million. With this acquisition, the XP fund, which already held 32% of the outlet, increased its stake to 49.99%. JHSF retained 55.01% of the asset.
About Ponta Negra Mall
Ponta Negra Mall spans 32,834 m² of GLA, with 170 stores, movie theaters, and 1,700 parking spaces. The main brands in the mall include Zara, C&A, Renner, Riachuelo, Cinépolis, Le Lis Blanc, Bemol, and Ramsons. GROCS platform subscribers can access detailed information about the mall and the transaction!
*The company declined to comment on the matter when contacted.
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