General Shopping Brasil S/A concluded the sale of a 48.0% stake in the Barueri Mall project to VBI GSBR Empreendimentos e Participações Ltda for R$68.7 million
• The Barueri Mall will have 32,000 m2 of gross leasable area in its first phase, constructed on a 60,000 m2 terrain
• The project includes the potential future construction of business towers as well as additional expansion
• General Shopping will retain its management role following the transaction
• General Shopping is one of the largest shopping center management companies in Brazil, with 190,100 m2 of own gross leasable area
• At the time of the transaction, the Company owned 13 shopping centers in which it had a proportional interest of 84.3%
– Together these shopping centers have a gross leasable area of 225,400 m2
– 11 of these malls are located in the State of São Paulo, 1 in Paraná and 1 in Rio Grande do Sul
• General Shopping actively participates in the site search, planning, development and construction of shopping centers
• The Company leases and manages its shopping centers, provide parking management services and also manages the supply of electricity and water
• General Shopping is uniquely qualified to manage smaller and “neighborhood”-type malls focused on the B and C socio-economic classes