The Company communicates that it has sold the entire "Suipacha 652/64" office building, located in the Microcentro district of the Autonomous City of Buenos Aires.
The class B building, with 7 office floors and 62 parking lots, acquired by IRSA in 1991, has a gross leasable area of 11,465 sqm, which was vacant at the moment of the transaction.
The price was set at USD 6.75 million, of which USD 3 million have been collected in cash, USD 750,000 through the delivery of 3 units in a building owned by the buyer, with a 30-month free lease agreement and the remaining balance of USD 3 million will be paid as follows:
- USD 2.5 million in 10 semi-annual, equal and consecutive installments of USD 250,000, the first due 24 months after the signing of the deed, with annual interest of 5%;
- USD 500,000 through the provision of services by the buyer.
This sale, whose result will be recognized in the 1st quarter of FY 2024, is part of the company's strategy to consolidate a portfolio of premium offices in the City of Buenos Aires.