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BRMALLS ANNOUNCES THE SALE OF INTEREST IN SHOPPING GRANJA VIANNA AND SHOPPING PARALELA
Rio de Janeiro, December 22th, 2017 - BR MALLS PARTICIPAÇÕES S.A., hereby announces the sale of its full stake on Shopping Granja Vianna and Shopping Paralela, located in the city of Cotia (SP) and Salvador (BA), respectively, for R$369.8 million to Hemisfério Sul Investimentos (HSI). The amount represents a cap rate of 9.4%* on a cash basis and 10.0%* on an accrual basis. The sales proceeds is net of taxes.
Since 2011, BRMALLS fully divested its stake in 16 assets, totalling R$2.0 billion, being 6 in 2017, with a total amount of R$824.3 million this year, BRMALLS largest asset sale volume in a single year. This transaction reinforces the companys commitment with its portfolio recycling strategy as a way to generate value to its shareholders. The transaction allows BRMALLS to reinvest the proceeds in investments along with its strategy.
* The cap rate calculation considers the assets last twelve months.