The Company purchased by public auction from the Government of the Autonomous City of Buenos Aires (hereinafter “GCABA”) a property located at Paseo Colón 245, a few metres from the Casa Rosada, the seat of the National Government. Twelve garages located at Paseo Colón 275 were also acquired.
The property, with mixed-use potential, has 13 floors of office space on a covered area of approximately 13,700 m2 and a basement with garages. The purchase price was ARS 1,434,793,198, which was paid in full.
To date, the signing of the deed of transfer of ownership is pending. Simultaneously to the deed, the Company is obliged to enter into a gratuitous bailment contract with the GCABA, the latter holding the property free of charge for a period of 18 months (with the option to request the continued use of the property for an additional 6 months under a lease contract), in accordance with the conditions agreed at the auction.
