Last Wednesday (14), XP Asset's shopping mall fund, the investment arm of XP Investimentos, XP MALLS (XPML11), announced the sale of 17.5% of Caxias Shopping, located in Duque de Caxias, Rio de Janeiro, for R$ 70 million.

Previously, XP MALLS held 35% of the shopping center, equivalent to about 9,661 m² of the total 27,605 m². With this sale, the fund now owns 17.5%, corresponding to 4,830 m² of the development.

XP Fund had acquired the 35% stake in the asset in 2017 from ALLOS, which still holds the remaining 65%. The transactions took place in two phases, one for R$ 35.5 million and the other for R$ 37.07 million, totaling approximately R$ 72.5 million.

Caxias Shopping, according to SiiLA data, is classified as a Class B development and has an occupancy rate of 97.90%, surpassing the national average for other assets in the same category, which is 88.67%.