The Company has signed a barter agreement transferring the “Ezpeleta land plot” of 46 hectares, located on the Bs. As. - La Plata Highway, in the district of Quilmes, Buenos Aires province.
The real estate project to be developed on the property consists of a gated community with 330 single-family lots and 6 macro lots for medium-density developments.
The transaction price was set at USD 16.4 million and will be paid to IRSA through the delivery of 125 single-family lots of the project and also 40% of the buildable sqm of the multifamily lots of said project. This consideration is guaranteed by a mortgage on the property and an additional guarantee on another property of the buyer.
Additionally, the Company received the sum of ARS 62.3 million in cash as part of the consideration.