BR Malls sells 30% of Center Shopping Uberlândia

Last Wednesday (2), BR Malls announced via a press release to the market the sale of 30% of its stake in Center Shopping Uberlândia, located in Uberlândia, in Minas Gerais. The transaction was worth R$ 307 million, which will be paid in cash by the current partners of the venture.

According to BR Malls, the amount will represent a cap rate of 6.7% for 2022. The company will continue to hold a 21% stake and will continue to manage and market the Center Shopping Uberlândia. The transaction is still subject to the Administrative Council for Economic Defense (CADE) approval.

Proceeds from the sale will be used to reduce BR Malls' financial leverage, the company said in the same statement.

According to SiiLA's Market Analytics platform data, Center Shopping Ubertlândia was opened in 1992 with a private area of over 52,000 sq metres. There are two floors of stores, with occupants such as C&A, Camicado, Centauro, Kalunga and others.