News

Rio de Janeiro, March 13th, 2020 -BR MALLS PARTICIPAÇÕES S.A., publicly-held company located at Avenida Afrânio de Melo Franco 290, 1st floor, in the city and state of Rio de Janeiro, under CNPJ nº 06.977.745/0001-91 ("brMalls" or "Company"), hereby announces the sale of its 49.0% stake in Via Brasil Shopping, located in the city and state of Rio de Janeiro, for R$ 38.4 million. The amount represents a cap rate of 10.5%* on a cash basis and 11.0%* on an accrual basis.

This transaction reinforces the Company’s commitment with its portfolio recycling strategy, where we aim to increase our exposure to core assets and reduce our exposure to non-core assets (smaller malls, located in smaller areas of influence and malls that we do not have active management).

* The cap rate calculation considers the asset‘s 2019 NOI.