Multiplan is no longer acquiring Diamond Mall

Multiplan, the shopping mall's manager, announced that it still needs to complete the purchase of the 49.9% stake in the Diamond Mall asset.

The company published a Notice to the Market last night (02).

In commercial real estate, all major transactions take months to complete. That's because transactions are dependent on board approvals and, of course, contractual agreements.In this case, Multiplan hasn't disclosed the reason for not finalizing the acquisition of the mall.

This statement continued what was published by the company back in August 2022. At the time, it was reported here on SiiLA REsource that Multiplan would buy the remaining portion of the asset, which belonged to Clube Atlético Mineiro.

Located on Avenida Olegário Maciel, in Belo Horizonte, Diamond Mall was delivered in 1996. The asset has 21,351 sq. meters of GLA (Gross Lettable Area). By not completing the acquisition, the administrator will continue with the share of 50.1% of the asset.

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