Iguatemi (IGTI11) announced the total acquisition of JK Iguatemi shopping mall, a high-end enterprise in the Vila Olímpia region of São Paulo. The operation for the acquisition of the remaining 36% is around R$ 667 million.
With this operation, the shopping center manager announced a follow-on to finance the purchase, with the objective of raising R$ 500 million.
JK Iguatemi has 34 thousand square meters of GLA and is located in Vila Olímpia, “a region with high population density and high income per capital,” informs Iguatemi RI.
In this first semester, the mall’s NOI (net operating revenue) was R$68 million.
With the reduction of the inflation force, the shopping mall sector achieved a good result in 2022, with Iguatemi standing out. In addition, the decrease in sanitary restrictions to fight the covid-19 pandemic also helped the performance of the companies in this sector.
It can be seen that in 2022, the Jereissati Group’s company has a valuation of 17.51%.
Who is Iguatemi (IGTI11)?
Iguatemi is one of the leading full-service shopping mall companies in the country. It has participations in 14 shopping centers, two outlets and three commercial towers, which total approximately 710 thousand m².
Iguatemi’s shopping centers are targeted to the A and B class public, in the most developed regions of Brazil (Southeast, South and Center-West regions).
Besides, the company also operates in the development of multipurpose projects, in the surroundings of the shopping centers, in order to capture the synergies between the shopping centers and such enterprises.
Among Iguatemi’s main products, we highlight Iguatemi São Paulo, JK Iguatemi, Pátio Higienópolis, Iguatemi Campinas and Iguatemi Porto Alegre.