The Company acquired a property adjacent to its Alto Avellaneda shopping center, located at Gral. Güemes 861, Avellaneda District, Buenos Aires Province.
The property has a total area of 86,861 m² and a built area of 32,660 m², with potential for future expansion. The purchase price was set at USD 12.2 million, of which USD 9.2 million has already been paid, and the remaining USD 3 million will be settled along with the deed of transfer of ownership, which is still pending. The transaction includes the assignment to IRSA of the existing lease agreements until their original term and the signing of a new 3-year lease agreement with the supermarket. “This transaction consolidates our leadership in the southern area of Greater Buenos Aires through Alto Avellaneda, one of our main shopping centers in terms of sales and visitor numbers,” said Eduardo Elsztain, CEO of IRSA.
