Parque Arauco SA acquired the mall Minka, located in the Callao district, as part of its expansion strategy in Peru, making it its 22 asset in the commercial real estate market. According to Eduardo Pérez Marchant, general manager of the Chilean company, Minka has a privileged location and will become his second most important asset in the country in visits and sales, after Megaplaza Independence.
Currently, Parque Arauco has 1,200,500 m² of ABL (Locative Bruta Area) in Chile, Peru and Colombia. The company opened its first shopping center in Chile in 1982, entered Peru in 2005 and Colombia in 2008.
How much did Minka del Callao cost?
The signing of a Binding Agreement of Parque Arauco with Grupo Centenario for the acquisition of the Zonal SAC Multimardly Company, owner of the Minka shopping centerit would be for a company value of US $ 102 million. Along with this, the company has a financial debt of US $ 36 million, so the price for 100% of the shares will be US $ 66 million.
“The recent sale of a minority participation of our Portfolio de Outlets in Chile, added to the solid results that Parque Arauco has had in recent times, allows us to specify this acquisition complying with the leverage policy that the company has had in the last Decade, ”said Eduardo Pérez in a statement.
Once the purchase is completed, which requires that certain previous preceding conditions be met for this type of operations, an annual NOI (net operational income) is projected close to US $ 10 million.
Why is Mussa a key shopping center in Callao?
The Minka shopping center is located in the District of Callao, adjacent to Lima, an expanding area with strong urban development potential. Likewise, the asset is close to access to the new city airport, which is projected will receive 30 million passengers per year, and which has a strategic location with direct access to the Express Costa Verde and excellent connection to the center of Lima .
The asset has 54,800 m² of commercial area including more than 540 stores, distributed in 47,800 m² of retail and 7,000 m² of traditional market, which has been operating for more than 20 years, positioned as the main market of fresh products in the area. The traditional market area represents 23% of the commercial income Of the asset and attracts about 20% of its visitors regarding the ABL of Retail, it includes the supermarkets Metro, Vega and Mayorsa, a cinema cinema, a smartfit gym and an H&M store. In addition, it has an outlet area with brands such as Skechers, Puma, Nike, Adidas, Prüne, among others. The shopping center receives more than 18 million visitors a year and has 950 parking lots. Its current occupation reaches 97%.
Who is the owner of Minka?
The Minka shopping center is owned by the Centennial Group, a Peruvian real estate company that acquired 100% of Zonales SA multimerred assets, including Minka, in May 2013.
Source: Larepublica
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