Mallplaza Colombia Deal Adds Eight Malls for US$376M
Mallplaza agreed to buy eight Gran Plaza malls in Colombia from Pactia for US$376 million, adding 180,000 m² of space and lifting its local presence to 13 centers. The post Mallplaza Colombia Deal Adds Eight Malls for US$376M appeared first on The Rio Times .
Chilean mall operator Mallplaza Colombia has agreed to purchase eight shopping centers from Pactia for approximately US$376 million. This acquisition will expand Mallplaza's presence in Colombia from five to 13 centers, adding 180,000 square meters of leasable space to its portfolio. The deal, set to close later this year, is a significant bet on the growing consumer demand in Colombia and aims to create regional synergies in leasing, marketing, and operations.
The eight Gran Plaza centers, located across Colombia, attracted about 57 million visitors and generated COP 111 billion in net operating income during the past year. CEO Pablo Pulido expects the acquisition to boost productivity per square meter and provide a reliable rental stream for commercial growth. With this purchase, Mallplaza's Colombian footprint will nearly triple, making it one of the largest mall operators in the country by count.
This deal could attract anchor tenants and strengthen Mallplaza's position in the competitive Colombian retail real estate market.
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