Multiplan Increases Stake in RibeirãoShopping in an investment of R$76 million

In a recent market statement, Multiplan, the shopping mall administrator, has announced an increase in its stake in RibeirãoShopping. The company has acquired an additional 4.1% ownership, at a price of R$76 million. The payment will be made in four installments, with the first installment of R$22.8 million due at the closing date. The remaining three installments of R$19.0 million, R$15.2 million, and R$19.0 million are scheduled for January 2024, July 2024, and January 2025, respectively. As a result of this transaction, Multiplan now holds an 86.5% share of the asset.

RibeirãoShopping, established in 1981, boasts a Gross Leasable Area (GLA) of 74,988 square meters, according to data from SiiLA's GROCS. The mall currently maintains an occupancy rate of over 95%. Additionally, Multiplan owns 43,035 square meters of land surrounding the shopping mall, representing a potential private area of 132,298 square meters for future development, as stated by the company.

This marks the second acquisition made by Multiplan this year. In the first quarter of 2023, the company successfully acquired a 24.95% stake in DiamondMall, located in Belo Horizonte (MG). The company's recent actions align with its growth strategy, as highlighted in their statement.

Furthermore, Multiplan has confirmed its ongoing investments in two expansions: DiamondMall and ParkShoppingBarigüi. These expansions will add a combined total of 24,049 square meters of Gross Leasable Area (GLA) to Multiplan's portfolio. DiamondMall is set to expand by 2,698 square meters, while ParkShoppingBarigüi will see an increase of 12,965 square meters.

SiiLA's GROCS serves as the universal metric used by shopping mall investors and retailers to analyze the percentage of sales in stores versus occupancy costs. This enables investors to optimize their returns by assessing GROCS, occupancy costs, rent, sales, and vacancy rates across various retail categories.

For those interested in exploring the assets mapped in São Paulo, Rio de Janeiro, and five other regions of Brazil (South, Southeast, Midwest, North, and Northeast), more information about SiiLA's comprehensive solution can be found by clicking here.