IRSA Acquires Los Gallegos Shopping Mall
IRSA Inversiones y Representaciones Sociedad AnΓ³nima (IRSA) has announced the acquisition of the "Los Gallegos" shopping mall in Mar del Plata for USD 13.5 million. The mall, with approximately 10,500 sqm of gross leasable area, includes 49 retail stores, 14 stands, 2 movie theaters, a department store, and 115 parking spaces. The acquisition, completed through the purchase of 100% of the owning entities, expands IRSA's shopping mall portfolio to 18 assets, with 16 currently operated by the company, totaling over 400,000 sqm of GLA. Mar del Plata is highlighted as a significant commercial hub with strong potential for growth due to its population and tourist influx. The transaction involved a USD 12.5 million payment at closing, with USD 1 million retained as collateral.