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19 ABR

Republica Building Sale

The Company communicates that it has sold in block 100% of the “República” building, located next to “Catalinas Norte” area in the City of Buenos Aires. The tower has 19,885 sqm of gross leasable area on 20 office floors and 178 parking spaces.

The transaction price was set at USD 131.8 million (USD/sqm 6,629), approximately 80% has already been paid in cash (USD 105,1 million), and the remaining amount with the delivery of a 46-hectare plot of land located on the Bs. As – La Plata Highway, in the district of Quilmes, Buenos Aires Province. This property has approved regulations and urban indicators to develop a mixed-use project with a construction capacity of approximately 521,400 sqm.


The accounting result of this operation will be recognized in the Company's Financial Statements for the fourth quarter of FY 2022.