Pátria invests R$257M in malls, expanding footprint in Brazil

The fund plans to acquire stakes ranging from 5% to 15% in Prudenshopping, Granja Vianna, Natal Shopping, North Shopping Maracanaú and Plaza Sul

SUBSCRIBER EXCLUSIVE

Rodrigo Abbud, partner and director at Pátria Investimentos; fund acquires new assets

By: SiiLA News

04/16/2026

Pátria Malls (PMLL11) signed a memorandum of understanding (MOU) last Wednesday (15) to acquire minority stakes in five shopping centers currently owned by Vinci Shopping Centers (VISC11). The transaction totals approximately R$257 million.

The assets under negotiation include a 5% stake in Plaza Sul (São Paulo, SP), with 1,219 sqm of gross leasable area (GLA); 10% of Natal Shopping (Natal, RN), totaling 2,840 sqm; 12% of Prudenshopping (Presidente Prudente, SP), with 3,940 sqm; 14% of Granja Vianna (Cotia, SP), with 4,292 sqm of GLA; and 15% of North Shopping Maracanaú (Maracanaú, CE), with 3,018 sqm.

Under the agreed payment structure, R$35 million will be paid upon signing, followed by R$167 million at closing. Pátria may choose to settle this portion partially or fully through a share-based payment using its own fund units issued to VISC11. The remaining balance will be paid in two installments of R$27.5...

Other transactions

This is not Pátria’s first acquisition announcement this quarter. In late March, the fund disclosed an MOU with HGBS11 to acquire a 19% stake in Shopping Jardim Sul, in São Paulo.

The investment totals R$128 million, with R$64 million to be paid at closing (in cash or units), R$12.8 million upfront, and two additional installments of R$25.6 million due in 12 and 18 months, respectively. The cap rate for the transaction was 8.11%.

In December 2025, PMLL11 also signed an MOU to acquire a 15% stake in Suzano Shopping for R$51.12 million, at a cap rate of 7.22%.

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