The Company announces that it has sold en bloc 100% of the “República” building, located in the Catalinas Norte area of the Autonomous City of Buenos Aires. The tower consists of 19,885 m2 of gross floor area in 20 floors of office space and 178 parking units.
The transaction price was USD 131.8 million (USD/m2 6.629) and approximately 80% has been paid in cash, i.e. USD 105.1 million or ARS 11,944.8 million, and the remaining amount with the delivery of a 46 hectare land located on the Bs. As. – La Plata in the district of Quilmes, province of Buenos Aires. This property has approved regulations and urban planning indicators to develop a mixed-use development with a construction capacity of approximately 521,400 m2.
The accounting result of this transaction will be recognized in the Company’s 4th Quarter Financial Statements of PF 2022.
