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BRMALLS ANNOUNCES THE SALE OF INTEREST IN MINAS SHOPPING
Rio de Janeiro, December 8th, 2017 - BR MALLS PARTICIPAÇÕES S.A., hereby announces the sale of its 2.1% stake on Minas Shopping (763.8 m² of owned GLA) located in the city of Belo Horizonte, state of Minas Gerais, for R$11.2 million. The amount translates to a cap rate of 9.8%*.
This was BRMALLS 12th full mall divestment since 2011. 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 with higher yield. The company will continue to seek further opportunities to recycle its portfolio.
* The cap rate calculation considers the assets last twelve months NOI and a post-tax transaction amount.