SANTIAGO, Chile–(BUSINESS WIRE)–Parque Arauco S.A. introduced the closing of a transaction to promote 49% of the corporate Todo Arauco SpA ” which owns Arauco Premium Retailers Buenaventura, Curauma, Coquimbo, and San Pedro de la Paz ” to Administradora de Fondos de Pensiones Habitat S.A., on behalf of its funds A, B, C, D, and E. This transaction values the property at UF 4.25 million (roughly US$173 million), leading to a complete fairness valuation of UF 1.82 million (roughly US$74 million) after deducting the car’s debt. Based mostly on this valuation, the fee for the 49% minority fairness stake within the firm shall be UF 893,606 (roughly US$36 million).
Following the transaction, Parque Arauco will proceed managing and consolidating the property, which achieved a NOI (Web Working Revenue) over the previous twelve months, as of Q2 2024, of roughly UF 338,000 (roughly US$14 million). Moreover, the settlement features a buy possibility for Parque Arauco to amass the minority stake in yr 10 from the date the transaction is executed.
Eduardo Pérez Marchant, CEO of Parque Arauco, said, This transaction is necessary for the corporate as a result of it permits us to recycle capital by promoting minority stakes in stabilized property and reinvesting these assets into growing new industrial areas and buying strategic property for the corporate. Moreover, this minority stake sale strengthens our monetary place and prepares Parque Arauco’s steadiness sheet for a possible acquisition of Open Plaza Kennedy, which is at the moment awaiting the standard approvals for such a transaction.
This minority stake sale follows earlier comparable transactions carried out by the corporate in Chile and Colombia. The primary sale occurred in 2019, involving the sale of a shopping center portfolio to Ameris Parauco Fondo de Inversión and a strip middle portfolio to Fondo de Inversión Banchile Rentas Inmobiliarias I. These have been adopted by the strategic sale of a shopping center portfolio in Colombia to Fondo de Inversión Colectiva Inmobiliario Inmoval in 2021.
About Parque Arauco
Parque Arauco at the moment has 1,182,000 m ² of complete GLA (Gross Leasable Space) in Chile, Peru, and Colombia. The corporate opened its first shopping center in Chile in 1982, expanded into Peru in 2005, and entered Colombia in 2008. For extra particulars, go to the corporate’s web site: www.parauco.com.
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Lauren Brown
Head of Investor Relations
Lbrown@parauco.com
(56 2) 2299 0608
Supply: Parque Arauco S.A.